Forex Strategies Forum

[Ghaz]

Hi folks,

I just want to ask the profis in this forum if I have done something wrong or if I have done everything allright at this trade.
Today i went long in EUR/JPY. You can see it at the picture. I set the stop loss at the lowest point (red line).
My entry signals are the crossing EMAs from down to top, Stoch under 50 and crossing too. Also I use ADX to see how strong the trend is.
Now to the stop loss. I have 1% risk (equal 5 Dollar). My money management calculator said, that i could risk 0.01 lots by 490 pips stop loss.

Now to my question. At the moment i am with 8 Dollars in minus. How could this happen?-I use money management to prevent such losses!
Last week i made roundabout 1000 Pips with the same entries, but i feel, that there is something frong with the stop losses. Did i understand them wrong?


best regards,


Florian

[Rom]

Now to the stop loss. I have 1% risk (equal 5 Dollar). My money management calculator said, that i could risk 0.01 lots by 490 pips stop loss.

Hi Florian

Standard account means $10/pips for lotsize = 1
Mini account means $1/pips for lotsize = 1

490 pips stop loss on standard account
$10 * 0.01 * (490 + spread) => $50

Your calculation is right for a mini account


kjell

[Ghaz]

ooohh....i have not told you, that the calculation was for a mini account of course!-so its right.
But how could i get in minus (10 Dollar now) when i calculate it?
When I see my stop loss it could also be 100 Dollar in minus. It is unbeliveable.
should i use micro account?-so, my stop loss would be 5 Dollars....


thanks for your answer!



Florian

[Rom]

Find out what account you have by checking a couple of trades

(standard)
P&L = $10 * lotsize * profit in pips
(mini)
P&L = $1 * lotsize * profit in pips

kjell

[Ghaz]

i KNOW that i have a mini account. But i dont know why the losses came, because of money management they should not be there ;-D

[Rom]

Can you post all data for one trade here (no charts)?

kjell

[Rom]

Your trade:
Entry 1.0465, Lotsize 0.04 Exit 1.0268 P&L = $76

$10 * 200 pips * 0.04 => $80

You have a standard account

kjell

[Ghaz]

oh f*uck!
ok, thanks for your explaination!!!
no i will try another Demoaccount. Activtrades should be a good solution. But they only have a month testemonial


thanks,


Flo

[Edward Revy]

Hi Florian,

just to double check: does your calculator know that you have 5 decimal pricing on your platform?
May be it should be 49 pips, instead of 490?

[Ghaz]

hi Edward,

yes, it is right, because i give in my stop loss in pips.
With the calculation from your other post i can calculate my stop loss. How could i calculate my lotsize by brain?
I would need much money by a proper money management to set a stop loss like some strategies want, because sometimes the stops are far away....


Florian