Home › Forums › Trading Courses › Professional Trading Strategies + 5 Bots Included › TP / SL and pips question
- This topic has 8 replies, 2 voices, and was last updated 1 month, 1 week ago by
Alan Northam.
-
AuthorPosts
-
-
October 25, 2023 at 21:36 #207079
0xBitpool
ParticipantHey guys!
I was looking at where my TP and SL weew on the charts and I’ve been surprised by the numbers. Maybe just because I’m still a noob but I want to make sure everything’s good.
So the first one is the USDJPY EA, with a SL of 300+ pips
The settings are:
I thought there were in points, which would convert in 30 pips for the SL value.
-
October 25, 2023 at 21:38 #207137
Alan Northam
ModeratorYes, that is correct!
-
October 25, 2023 at 21:41 #207139
0xBitpool
ParticipantWhat worries me is the graph screenshot that shows S/L: pips -304.
Shouldn’t it be pips -30.4?
-
October 25, 2023 at 22:39 #207157
0xBitpool
ParticipantAnother example:
And the settings:
Should I change the settings? (I use leverage 1:100 if that helps)
-
October 25, 2023 at 22:42 #207162
Alan Northam
ModeratorThe only thing you should change is the Lot Size, you should not change any of the other parameters. Lot size should be chosen based upon account size and the risk you are willing to take.
-
October 25, 2023 at 22:48 #207169
Alan Northam
ModeratorYes the graph should show 30.4 pips. I don’t know why it is showing up as 304 pips. The EA parameters are in points so this is what the EA will use.
-
-
October 25, 2023 at 23:03 #207178
0xBitpool
ParticipantNevermind, I calculated the price difference between entry and S/L and T/P, and the price values are correct. The graph is weird, but the prices are okay.
Example for EURUSD:
Entry price: 1.05776 / SL: 1.06533 (price difference 0.00757, or in pips 75.7) / TP: 1.05183 (price difference 0.00593, or in pips 59.3)
The settings are SL 75 / TP 60, so it looks good!
-
October 25, 2023 at 23:29 #207186
0xBitpool
ParticipantI just learned something: the decimal place is important
Example for USDJPY (3 decimal – 1 pip – 0.01)
Price: 149.856
TP: 150.752 => Price difference: 0.896. I was like “What!? 9000pips??” No: it’s actually 90 pips on a 3 decimal currency pair. I can stop sweating lol
-
October 26, 2023 at 0:39 #207200
Alan Northam
ModeratorOnly for xxx/jpy pairs!
-
-
-
AuthorPosts
- You must be logged in to reply to this topic.