Update: I have managed to figure out my own mistake, after painful hours of reading articles, head banging, and doubting my existence. The articles on the MT crosshair state that the second value is a representation of points, and not pips, but I clearly commited a mistake by not reading over all of them. So if you are a beginner, take this as a word of advice, I paid with blood and sweat for this little mistake(mostly a lack of sleep). If you want to keep reading, feel free to, my mistake is also exemplified and explained in further detail.submitted by AlexSimply to Forex [link] [comments]
Hello guys, I have a really important and probably easy problem that I do not seem to be able to figure out. Today is the last day of the week, and I've been crunching forex tutorials for the past 5 days like a madman trying to understand as much as I can before my university year starts. But on the last day, I have a really frustrating problem:
I decide to buy EUUSD with a lot size of 0.01(micro lots)
Entry price: 1.0972 (I leave the pipette out, as I've learned that it is not so significant)
Take profit 50 pips above: 1.0972+ 0.0050 -These are 50 pips, I am totally sure of that ===> TP= 1.0972
HOWEVER: When I look at the chart with my crosshair and measure 50 pips, the TP= 1.0927 WTF? What am I leaving out from my calculations? I am sure someone more experienced could easily tell me what's wrong, but I don't get it, why does 50 pips equal 1.0927 instead of 72? The 4th number is 1 PIP, and the 5th is a pipette. So what's wrong? It says 50 pips equal a change in the 4th decimal, but that is impossible, right? The 4th decimal is 1 pip, not 10!!
If I was to speculate an answer, I would say that the 5th decimal in metatrader is considered 1 pip? But why? The 5th decimal is always a pipette, right??? But IF I MEASURE IT, a change in the 5th decimal equals 1 pip in the crosshair!
What's going on here? Is there something the tutorials did not cover? I can practically just change my calculation a bit but I wonder what is going on here? I've literally stayed up all night wondering why my orders were missing the SL and TP just to zoom out and see my take profit in heaven and the stop loss in the 9th circle of hell, right under my table. If someone could clear up as of what is going on, I would greatly appreciate it!
UPDATE: After bouncing back and forth a few articles, I have realized something extremely infuriating. The MT4 crosshair shows points, and they need to be divided by 10 in order to get the actual pips!
Reading the forexpeacearmy article, it first states that the second value are pips, and under it, it states that they are actually 90.1 pips and not 901 pips. This is something someone can very easily look over, mostly if they are a newbie!
Forex Demo Accounts; Price Action Guide; Free Course; How to Use a Lot Size Calculator in MT4 and MT5. Johnathon Fox. 08/29/2019 UPDATED ON: 09/02/2019. How to Use a Lot Size Calculator in MT4 and MT5. We are always on the lookout for tools that will help make trading easier, quicker and more efficient. In this post we look at how you can use a lot size calculator in MT4 and MT5 to quickly ... MT4 Position Size Calculator is an easy and quick tool to Calculate the Position Size in MT4 and see the lot size and risk reward ratio. Position Size Calculator Indicator For MT4 is a great tool to easily calculate the position size for a trade . With Lot Size Calculator you can: Set your risk management preferences; Select the percentage of risk; Configure Stop Loss and Take Profit by points ... How to use lot size calculator on MT4 to automatically set a proper lot size to risk 2% per trade in just 1-click. Trader On Chart Features. Auto-calculate position size. Trader On Chart will calculate the exact lot size for your trade according to the stop loss size and your available account equity. If you chose to risk 1% per trade, it means TOC will set the exact lot size so that in case ... The position size calculator is a Meta trader indicator that is used to calculate the positions of different things in the forex market. It is a forex calculator that calculates the risks in the trade by giving the value of account currency, account balance, risk percentage, stop loss, pips, currency pair, and then calculate all these things to give the value of the amount that is on risk ... Lot size calculator Forex MT4 Download. Tool to quickly and easily calculate the lot size you must enter to risk x of your capital in percentage or money. Account Currency. Account Balance. Risk Percentage. Stop Loss in Pips (ex: 30 pips = 300 points) Currency Pair . Amount at Risk ... Lot in forex is the name of the position size of each trade. How to determine a lot size in forex? Position size is determined by the number of lots and the size and type of lot that traders buy or sell in a trade. A micro-lot consists of 1000 units of currency, a mini-lot 10.000 units and a standard lot has 100,000 units. The risk of the forex trader can be divided into account risk and trade ... Forex Lot Size Calculator For All MT4 Forex Brokers is backed with a 60 Day No Questions Asked Money Back Guarantee. If within the first 60 days of receipt you are not satisfied with Wake Up Lean™, you can request a refund by sending an email to the address given inside the product and we will immediately refund your entire purchase price, with no questions asked.
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