sorry mate
ok so this…
yes 1% x 900 = 9
Meaning you are risking $9
correct, you are risking $9
i think this part is confusing you
keep reading…
ok
9 = $9 Meaning, YOU SAID you are risking 1% of your total account balance
$9 is 1% of your Account Balance
YOU DO NOT ENTER 9 into the field, because the field is asking for LOT SIZE, Not $ Amount
$9 is just FOR YOU TO KNOW HOW MUCH $$ YOU ARE RISKING
You need to convert this amount to LOT SIZES (And enter that into the field)
which leaves us with
0.01 and 0.03
Now. before you can work out the lot size, you need to know HOW MANY PIPS your stop loss is set at.
WE ASSUMED 30 Pips stop loss
so. You take your $9 and you are spreading it over 30 Pips (MAKE SURE YOU UNDERSTAND THIS)
so 900 cents divided by 30 pips = 30 cents per pip or 0…30 cents
so now
You are risking 1% of your Account balance IN THE WHOLE TRADE
and since your stop loss is at 30 pips… You are risking 30 cents PER PIP
now we convert that 30 cents to LOT SIZES (And this is what we enter in the field)
so the 0.01 LOTS is what i told you so as to make the math easier
0.01 Lots = 10 cents per pip
Now we are trying to find 30 cents per pip
so… 3x More
so
0.01 x 3 = 0.03LOTS (this is what you enter in the field) YOU ENTER 0.03
AND IN DOING SO…
you trade will consume 30 cents per pip
and to reverse engineer this strategy
it means
if your trade runs 30 pips the wrong way
you will lose $9
aka you will lose 1% of your account balance
DOES THAT MAKE SENSE