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Script/Calculator to calculate stop loss

Discussion in 'Forex Trading Systems and Strategies' started by C K, Oct 3, 2011.

  1. C K

    C K Recruit

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    Hello,Just started with a demo a/c of 3000 USD.Also took some classes on Equity Trading.Am looking for a solution to this:
    1.Is there a formula to calculate stop loss in PIPS.For instance I use MT4 and should I buy .1 lot CHF/JPY at 156.79,what would be .5% of 3000USD=15USD in pips for this pair?Tried a lot of methods but am sure it's so simple it's going to sound crazy that I over looked it.
    2.How do you read the ATR for a time frame?For instance ,if a EUR/GBP M5 chart mentions .0045,is it 45 pips in the last 5 miniutes?If so,how do I apply that as a TRailing Stop to say,1.30045(yes,five decimal place pricethat my broker gives!!).

    Anyone?
    Thank you.
     
  2. Pharaoh

    Pharaoh Colonel

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    I'll take the last question since it's the easiest. :D

    A trailing stop on a 5 digit broker needs to be 10 times larger than a 4 digit broker. For example: If you would have set a 40 pip trailing stop on a 4 digit broker, you need to set a 400 pip stop on a 5 digit broker to get the same effect.
     

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