TRO RISK / REWARD

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TheRumpledOne
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TRO RISK / REWARD

Postby TheRumpledOne » Wed Apr 01, 2009 12:22 am

TRO RISK / REWARD

Image

Do you know how many times I hear "What's the stop loss?"

Let me make something PERFECTLY CLEAR:

STOP LOSS IS NOT A FUNCTION OF YOUR ENTRY METHOD.

STOP LOSS IS A FUNCTION OF YOUR MONEY MANAGEMENT AND RISK MANAGEMENT.

The market doesn't care why you entered a trade or why you exited.

Your stop loss needs to be calculated so that after 10, 100 or 1,000 trades, you expect to come out even or ahead of the game. It is that simple.

TRO_RiskReward will calculate and display what your winning percentage need to be to break even using your SL and TP including spread. ( Commissions not coded so leave input Use.Commissions = false )

Ideally, % Wins Needed should be less than 50 but it doesn't have to be.

FREE MT4 version of TRO_RiskReward, INCLUDING SOURCE CODE, attached.
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IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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Postby MightyOne » Thu Apr 02, 2009 12:37 am

Thanks TRO :)

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Postby happyhappyRN » Fri Apr 10, 2009 3:23 am

Thanks for another great tool TRO!

I do have a question. Where in the code do I change it so it works with 5 digit quotes?

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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 10, 2009 5:03 am

Fix attached.
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Postby happyhappyRN » Fri Apr 10, 2009 5:51 am

That's service! Thanks :smt023

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bredin
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Postby bredin » Fri Apr 10, 2009 7:05 am

instead of this
point = Point ;
if(digits == 5 || digits == 3) { digits = digits - 1 ; point = point * 10 ; }

try this
point = 1/MathPow(10,Digits);

Cheers
G (who is too lazy to code two lines)

[edited to fix bad math]
Last edited by bredin on Fri Apr 10, 2009 10:42 pm, edited 1 time in total.

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TheRumpledOne
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Postby TheRumpledOne » Fri Apr 10, 2009 9:41 pm

But what about digits??
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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bredin
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Postby bredin » Fri Apr 10, 2009 10:56 pm

to my mind its only relevant if you want to reformat the 3 or 5 digit numbers back to 2 or 4, or for setting hard stop/tp in an EA

Cheers
G
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