Robot and Position Sizing
Created at 02 Apr 2013, 23:25
Robot and Position Sizing
02 Apr 2013, 23:25
Hi Guys
Can some please tell me if it possible to code a robot to calculate say 1% risk of your equity take the required stop into consideration and then return the required volume for that particular trade.
Regards
Darren
atrader
04 Apr 2013, 15:04
Based on this:
http://www.fxstreet.com/education/learning-center/unit-3/chapter-3/the-position-size/
and
http://www.babypips.com/tools/forex-calculators/positionsize.php
You can use this formula:
var Volume = (((Account.Balance * Risk) / StopLossPips) / PipValue) * 100000;
I believe for xxxUSD where the account currency is USD, the pip value is $10. Not sure how you would calculate this for other currencies.
Risk should be input as a percentage, i.e. 0.01. or if you input 1 then convert it by
Risk = Risk/100; prior to the formula.
StopLossPips should be in pips, i.e. 10 for 10 pips.
@atrader