How many Pips do I need to gain to earn $50?

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7
deklin 2015.01.08 03:27
 

I want to set a take profit for trades that will result in a specified dollar gain.

How can I calculate this?  In the examples below, what math will I need to use to set a take profit that will result in a $50 gain?

 

Thanks! 

 

Pair: NZDUSD  |  Entry Price: 0.770000  |  Volume: 53000
Pair: EURGBP  |  Entry Price: 0.783119  |  Volume: 51000
Pair: AUDUSD  |  Entry Price: 0.805590  |  Volume: 51000
Pair: EURUSD  |  Entry Price: 0.783119  |  Volume: 35000
Pair: USDCAD  |  Entry Price: 1.185100  |  Volume: 35000
Pair: EURGBP  |  Entry Price: 0.784050  |  Volume: 51000


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2017
gooly 2015.01.08 11:03 #
 

For some of the forex symbols 1 pip and 1 Lot are ~10$

If so you need 5 pips of a 1 lot-position.

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273
fx1.net 2015.01.08 11:49 #
 
All depends on TickValue and it differs based on your base currency and currency you have.
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13010
WHRoeder 2015.01.08 14:38 #
 
deklin:

I want to set a take profit for trades that will result in a specified dollar gain.

How can I calculate this?  In the examples below, what math will I need to use to set a take profit that will result in a $50 gain?

  1. You place the stop where it needs to be - where the reason for the trade is no longer valid. E.g. trading a support bounce the stop goes below the support.
  2. Account Balance * percent = RISK = (OrderOpenPrice - OrderStopLoss)*DIR * OrderLots * DeltaPerlot (Note OOP-OSL includes the SPREAD)
  3. Do NOT use TickValue by itself - DeltaPerlot
  4. You must normalize lots properly and check against min and max.
  5. You must also check FreeMargin to avoid stop out
So profit = (OrderTakeProfit - OrderOpenPrice)*DIR * OrderLots * DeltaPerlot
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