Money Management will help you to Easy Trade with One Click, instance and pending, set SL, and manage number of your TP.
You can use this expert for different currency pairs, CFDs, cryptocurrency, and stocks.
The basic formula for calculating pip value and position size which has been used in this expert are:
Pipette Value = Position Size * (Exchange Rate (Base Currency) / Entry Price) * Contract Size * Digits
Exp.
Account Currency: USD
Currency Pair: GBPJPY
Position Size: 0.05 Lot = 5000 units
Exchange Rate (Base Currency) [GBPUSD]: 1.36820
Entry Price: 156.221
Contract Size: 100000
Digits: 0.001
Pipette Value = 0.044 $
Pip Value = Pipette Value * 10 = 0.44 $
Position Size = (Risk * Net Balance * Entry Price) / (Stop Loss * Exchange Rate (Base Currency) * Contract Size * Digits)
Net Balance = Account Balance – Commissions and Swaps of all open positions
Exp.
Account Currency: USD
Currency Pair: GBPJPY
Risk: 2 % = 2/100 = 0.02
Account Balance: 1000 $
Entry Price: 156.221
Stop Loss = 500 pipette (points)
Exchange Rate (Base Currency) [GBPUSD]: 1.36820
Contract Size: 100000
Digits: 0.001
Position Size = 0.04567 Lot = 4567 units
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