Hi there,
I am reaching out, as I need help from some genius to calculate a formula for my EA.
I have build a grid EA, which I am quite happy with. But the MM part has a missing part, which is to calculate
lot size based on pip value.
We all know, that the USD pip value for most pairs are different.
ie. Pip value for EURGBP is 11.11 USD per 1 lot, GBPCAD is 6.45 USD per 1 lot and EURNZD is 5.79 per 1 lot.
I trade 28 pairs.
My MM input is :
Money Level : 1000
Lots per level : 0.1
So if I have ie. 5000 balance, the EA trades 0.5 lot per grid trade.
I have no SL on the trades at all, but close all grid trades when a pair reach 0.3 pips ratio of the 20 ATR daily value.
So ie. if Daily ATR 20 is 100 pips, I close all grid trades when the net amount of all grid trades are 30 pips in profit. (on each pair).
As I use no SL per trade (only a hard SL of 10%of all open trades), I find it very difficult to come
up with a formula, to adjust trade size on each pair...
As the EA is now, the EA trade EURGBP with double risk as ie. the EURNZD because the EA only look at Money level and EURGBP lot value
is almost double as the EURNZD lot value.
Can anybody come up with a "3. factor "input, in order to auto calculate a lot size adjustment, which take into consideration
the pip value on each specific pair?
So my goal is to have same risk /(and same TP) value on each pair, no matter if I trade EURGBP or EURNZD or any other pair.
Any help would be much appreciated as I have sleepless nights over this haha....
THANKS
PC
I am reaching out, as I need help from some genius to calculate a formula for my EA.
I have build a grid EA, which I am quite happy with. But the MM part has a missing part, which is to calculate
lot size based on pip value.
We all know, that the USD pip value for most pairs are different.
ie. Pip value for EURGBP is 11.11 USD per 1 lot, GBPCAD is 6.45 USD per 1 lot and EURNZD is 5.79 per 1 lot.
I trade 28 pairs.
My MM input is :
Money Level : 1000
Lots per level : 0.1
So if I have ie. 5000 balance, the EA trades 0.5 lot per grid trade.
I have no SL on the trades at all, but close all grid trades when a pair reach 0.3 pips ratio of the 20 ATR daily value.
So ie. if Daily ATR 20 is 100 pips, I close all grid trades when the net amount of all grid trades are 30 pips in profit. (on each pair).
As I use no SL per trade (only a hard SL of 10%of all open trades), I find it very difficult to come
up with a formula, to adjust trade size on each pair...
As the EA is now, the EA trade EURGBP with double risk as ie. the EURNZD because the EA only look at Money level and EURGBP lot value
is almost double as the EURNZD lot value.
Can anybody come up with a "3. factor "input, in order to auto calculate a lot size adjustment, which take into consideration
the pip value on each specific pair?
So my goal is to have same risk /(and same TP) value on each pair, no matter if I trade EURGBP or EURNZD or any other pair.
Any help would be much appreciated as I have sleepless nights over this haha....
THANKS
PC
Less is more...