StopLoss % of Balance
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I've read a lot of tips & tricks where people say it's good money management to start with the stop loss to see how much you can afford to loose.
Then from that point you should be able to set your take profit.If I want to set my stop loss to 2% of my account balance and then my take profit to 2:1.
What is the correct way to make this in Fxdreema?
Do I need to figure out how many pips this is or is my solution the only thing I need to make this work?Not sure my math is with me here.
And what if I would like a Trail to keep following that one with the same pips as the stop loss maybe? Or maybe half the amount of the stop loss.This is what I am trying right now:
https://fxdreema.com/shared/s8CLNchIc -
Balance is measured in money. If your base currency is $, then the balance is $. But SL and TP are price levels, like 1.23456. There are some other options, like "Fixed pips", which converts the input value into price level by adding it to Ask or Bid. The thing here is that it's not only the SL level, there is also a lot size. So I think that you want to set SL where it will lise X money with the lot size that is used.
There is the opposite option available, when you calculate the lot size knowing SL - all these Risk % options in Volume mode. I have to think about the thing you want to do, I'm not sure if it's logically possible to add it as an option. The other question is - do you really want to have such a dynamic SL? Otherwise you can try some calculations. You have something like 1000$, the idea is how to convert this into something like 10 (pips) or 0.0010 (price fraction)