Home › Forums › Trading Courses › Professional Trading Strategies + 5 Bots Included › TP / SL and pips question

EightCap
Viewing 3 reply threads
  • Author
    Posts
    • October 25, 2023 at 21:36 #207079
      User Avatar0xBitpool
      Participant

      Hey guys!

      I was looking at where my TP and SL weew on the charts and I’ve been surprised by the numbers. Maybe just because I’m still a noob but I want to make sure everything’s good.

      So the first one is the USDJPY EA, with a SL of 300+ pips

      SL for the USDJPY M5 EA

      The settings are:

      I thought there were in points, which would convert in 30 pips for the SL value.

    • October 25, 2023 at 21:38 #207137
      User AvatarAlan Northam
      Moderator

      Yes, that is correct!

      • October 25, 2023 at 21:41 #207139
        User Avatar0xBitpool
        Participant

        What worries me is the graph screenshot that shows S/L: pips -304.

        Shouldn’t it be pips -30.4?

        • October 25, 2023 at 22:39 #207157
          User Avatar0xBitpool
          Participant

          Another example:

          And the settings:

           

          Should I change the settings? (I use leverage 1:100 if that helps)

          • October 25, 2023 at 22:42 #207162
            User AvatarAlan Northam
            Moderator

            The only thing you should change is the Lot Size, you should not change any of the other parameters.  Lot size should be chosen based upon account size and the risk you are willing to take.

        • October 25, 2023 at 22:48 #207169
          User AvatarAlan Northam
          Moderator

          Yes the graph should show 30.4 pips.  I don’t know why it is showing up as 304 pips.  The EA parameters are in points so this is what the EA will use.

    • October 25, 2023 at 23:03 #207178
      User Avatar0xBitpool
      Participant

      Nevermind, I calculated the price difference between entry and S/L and T/P, and the price values are correct. The graph is weird, but the prices are okay.

      Example for EURUSD:

      Entry price: 1.05776 / SL: 1.06533 (price difference 0.00757, or in pips 75.7) / TP: 1.05183 (price difference 0.00593, or in pips 59.3)

      The settings are SL 75 / TP 60, so it looks good!

    • October 25, 2023 at 23:29 #207186
      User Avatar0xBitpool
      Participant

      I just learned something: the decimal place is important

      Example for USDJPY (3 decimal – 1 pip – 0.01)

      Price: 149.856

      TP: 150.752 => Price difference: 0.896. I was like “What!? 9000pips??” No: it’s actually 90 pips on a 3 decimal currency pair. I can stop sweating lol

  • Author
    Posts
Viewing 3 reply threads
  • You must be logged in to reply to this topic.
Account
Account
Shopping Cart