Hello,
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so now we got two things ,stoploss point and entry point (from the above chart)
based on this we need to calculate our position size
no.of shares/contracts=(ur percentage risk*toal equity)/(stoploss points).
but Eur/usd trade in lots so...
no of lots=(no.of shares or contracts)/lot size denominator
for Eur/usd 1000 shares/contracts= 1 micro lot.
10000 shares/ontracts=1 mini lot
100000 shares/contracts=1 standard lot.
Regards,
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so now we got two things ,stoploss point and entry point (from the above chart)
based on this we need to calculate our position size
no.of shares/contracts=(ur percentage risk*toal equity)/(stoploss points).
but Eur/usd trade in lots so...
no of lots=(no.of shares or contracts)/lot size denominator
for Eur/usd 1000 shares/contracts= 1 micro lot.
10000 shares/ontracts=1 mini lot
100000 shares/contracts=1 standard lot.
Regards,
Thank you for the example given... I really not used this type of sl ever, i went for the trade with my % of risk... i'll differently work on this method.
@ashu1234
Thank you for your suggestions, i'm following your fx-gold thread