Let’s say I want to open a short position on XAUUSD at 1707.05 and I put my stop loss at 1723.70
I want to risk $1 000. The stop loss is 1 665 pips (1723.70 - 1707.05)
I used a position size calculator and it told me that I must open 6 006 troy oz.
But at the broker I use I can’t open more than 1 000 troy oz.
What did I do wrong?
Maybe instead of 1665 pips I should have written 166500 pips?
How should I write the stop loss at pairs that have JPY, for instance USD/JPY or silver/usd?