Hi everyone, i have been cracking my head to calculate how much lot size i should use if i am planning to win 2% a trade. Could you help me with this?
currency: all currencies like eur, usd, gbp etc etc
Want to win $20 for each trade
Stoploss: 16 pips
Profit TP: 8 pips
In this senario, how do i calculate what the lot size should be taking into account spread,commission etc? So that i can plan and execute the correct lot size to win $20 after taking into account the spread and commission and leverage etc?
I cannot find a simple answer to this and seems i have to use many calculators but still i don’t know how to count include the spread and commission.
Could you tell me if there is a much simpler way to do this? Appreciate it. Thanks