Edit: Didn't include right code or pic. Is now fixed for $1 pip example given.
One thing I almost always forget to do is price the pips correctly when looking to enter a position.
This is a snippet of code you can use to determine what the minimum pip value should be to return 1:1 per pip movement.
$1 Pips is the minimum position size you should use to enter the position for a $1USD (or your base currency) per pip return.
In this example ATC Brokers minimum lot size is 0.05. So in order to see a 1:1 return per dollar we simply double the minlot cost to 0.14 and multiply by the intended dollar return we would like to have per pip.
Maybe someone has better math than I do. I always round up. Nothing like a little freebie here and there!
Code: Select all
int start()
{
//----
string Text="";
double PipValue = DoubleToStr(MarketInfo(Symbol(), MODE_TICKVALUE),2);
double Minlot = DoubleToStr(MarketInfo(Symbol(), MODE_MINLOT),2);
double ThisLot = DoubleToStr(((100/PipValue*Minlot)/100),2);
Text = "Pip/Tick Value = " + DoubleToStr(PipValue,2) +
"\n"+
"Spread = " + DoubleToStr(MarketInfo(Symbol(), MODE_SPREAD), 0) +
"\n"+
"Min Lot = " + DoubleToString(Minlot,2) +
"\n"+
"Min Lot Cost = " + DoubleToStr(ThisLot,2) +
"\n"+
"$1 Pips = " + DoubleToStr(ThisLot*2,2);
Comment(Text);
return(0);
}