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.
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.