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Position sizing and currency conversion
I asked this question however it has been deleted, so i never saw the answer that was posted. by Ninja if you could answer this question again.
i Asked.
i have an equation for determining volume..
$risk / Stop pips(x10) = Volume.
how can i convert the value from my account Money (AUD) to another currency, IE Euro or USD.
I did try taking Volume / Currency Value. (as in USD is currency 0.81 AUD). But it didnt seem to work out.
over 2 years ago
Best Answer - Chosen by Asker
Lucky for you, BabyPips.com has the tools you need to answer this question... Just input your account currency, account balance, your risk percentage, the currency you want to trade, the price your sold/bought and your stop loss point (target close price).
over 2 years ago
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Answers (1)
If your equation for determining volume:
$risk / Stop pips(x10) = Volume
is similar to this one (which I think it is):
Position size = Risk, in dollars / [(Stop-loss, in pips) x (Pip-value, in dollars)]
Then you should follow the link provided below. You will find a very detailed explanation...
over 2 years ago
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