There is one calculation I am finding to be a little tedious to calculate each and every time, and that is how many pips represent my risk.
I am searching google and I am not finding a script that I can upload into MT4.
To be clear, I am looking for a script in MT4 that will do the following:
[ul]
[li]Determine my account size
[/li][li]Ask for lot size
[/li][li]Take in a pair at its current price (say EURUSD @ 1.2) – Or even better, lose 2%, gain 10%. Doesn’t need to be symmetric.
[/li][li]Calculate the number of pips I need to make/lose in order to gain/lose X% (say 2%) of my account balance
[/li][li]Execute a buy/sell with those pip values registered in there
[/li][/ul]
It seems like a basic operation. I am almost considering programming it myself, but I haven’t programmed MT4 before and I am just starting Forex.
I notice no one responded to your post yet, so I thought I’d chime in. While the functionality you describe does not currently exist on FXCM’s MT4 platform, there are a couple of options you might want to consider. To get free help in coding this script, you can visit FXCodeBase. That is a free community where people share programs, indicators and scripts with each other. It’s possible someone on that site might be able to write the script you describe. Alternatively, if you need professional assistance, you can contact our Programming Services department to write code for any of our platforms including MT4.
The code for this is super easy, probably the hardest part would be determining all the equations, which should only take about 5 min or less. If you do want some help email me at grider.aaron @ gmail . com. Hopefully you have already received help with this, but just in case.