Petko,
I just wanted to say how impressed I have been with your FTMO challenge course which I received the the FTMO EAs.
I placed the EA’s on a Trial account a few days ago and they started trading last night, so far I have three open trades going into the weekend but all are in profit, hopefully the market remains stable and they will come profitable next week.
After going through the training I have a few newbie questions for you, so sorry. I am sure many of you probably think I am stupid, but I would rather ask and understand than to remain ignorant!
While I understand the money management principles in the training what I don’t understand is how to quickly calculate my SL and TP based on account size and leverage?
Obviously I understand that 1% risk on £10K is £100 but how do you quickly calculate this to place SL and work out TP, is there a tool that you use?
Also how does leverage work with this? If I have two accounts at £10K and one with 100:1 leverage and another at 500:1 are my lot sizes the same or different?
I have tried to research this and find the explanations I found unclear and confusing.
I thank anyone in advance for providing a simplified explaination.
Thanks all and wishing you every success for 2024! :)