Help with problem calculating take profit

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Hi to all guys ,

I am struggeling my head with a problem that sesms easy but i am not able to get rid of.
the problems is with pair XAUUSD where my broker give me these values : 

Ticksize = 0.01  and contract size ( or  lot size ) = 10. ( very poor value ) .
the open price used is 2006.535  and the exchange Eur for this price si 1.09212.
the stop loss is 2005.827 

the problem is that i want calculate the take profit value referreing to 3% of the balance of 500000.00 EUR ( account currency)  = 15000.00.EUR

So I though to calculate the pip value in account currency  with  the formula
pip value =  ( pip / currency exchange * lot size )

pip value =  ( 0.01 /1.09212* 10  ) = 0.0915650294 

numbers of pips in EUR = 15000.00 / 0.0915650294  =163.81 or 1.63 ?? <---  is that it ??

I tried to calcutate with tradingvView and the result is 2121 pips or 2.121 XAU price.
adding  this value  ( 2.121 )  to 2006.535  result is 2008.656 that is correct value-

Could some one help me to undestand where i am wrong ?





 

You have already been given an answer ...

Use the OrderCalcProfit function. It can be used for both Profit or Loss, for Reward or Risk.
 


Hi Fernando,

I think we are talking about 2 different things. I want to know the TakeProfit Price.

The premise is that a just have a formula  like ( BUY )  ->   TakeProfit  = ((Openprice- stoplossprice) *3)  +  Openprice;  

But what I want is to satisfy my curiosity and calc the  TakeProfit for XAUUSD  taking  the 3% ofthe account balance in EUR = 500000 at 1% of risk. in this case 15000 EUR . 
This is another way to do things, that is : How many pips do i have to add to my openprice in profit Pair  (USD)  stating that these number of pips  (must be) = 15000  EUR ??

With all due respect Fernando it does not seem what you gave here :

[Volume]      = [Money Value] * [Tick Size] / ( [Tick Value] * [Stop Size] )
[Stop Size]   = [Money Value] * [Tick Size] / ( [Tick Value] * [Volume]    )
[Money Value] = [Volume]      * [Stop Size] * [Tick Value]   / [Tick Size]

[Volume] in lots
[Stop Size] in quote price change
[Money Value] in account currency

gives what i am asking, unless I can do the math. may be...

I already use the OrderCalcProfit() function that you mentioned and it's usefull to calc the lotsize or volume , but i am trying to do another calc.

If you think I'm wrong could you gently show me what is the math applying to one the formula you mentioned above?  with the prices in my post above ?

I thank you  very much of what you can do to help me.




 
Hi Fernando ,

I owe you an apology, because i didn't see this snippet of code ( inside/nested  in in one the posts you mentioned) , specifically :

double secondMethod(double money, double avgPrice, double volume)
  {
   return(avgPrice + money * MarketInfo(_Symbol, MODE_TICKSIZE) / (MarketInfo(_Symbol, MODE_TICKVALUE) * volume));
  }

infact if I change the values for my case for XAU :

case 1 : BUY 

ticksize = 0.01
tickValue= 0.916481
lotsize = 77.05 

OP =2006.535  SL=2005.827  
contractsize for XAUUSD = 100

priceInPoints = (500000.00 *0.03) * ( ticksize  / ( tickValue * lotsize  )); = 2.124
TP = 2006.353 + 2.214 = 2008.659

case 2  : SELL 

ticksize = 0.01 
tickValue= 0.916481 
lotsize = -11.84
OP =2017.088  SL=2021.692  
contractsize for XAUUSD = 100

priceInPoints = (500000.00 *0.03) * ( ticksize  / ( tickValue * lotsize  )); = -13.812
TP = 2017.088 -13.812 = 2003.276

IT'S  PERFECT . ones must always have to look into the details.. 
thanks a lot 


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