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Originally Posted by MickMason
For simplicity I found it's easier to forget about margin and leverage.....
Your account is $1000
Your maximum risk is 2% ($20)
Your stop loss is 50pips
Divide $20 by 50pips = 40 cents per pip
Trade size 4k
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That's nice and simple. However, my trading software shows "available units", and on EUR/CHF at least - "1 pip = 0.00 USD". So if I knew the USD $ amount to buy, I'm not sure how easy it would be to do on non-USD paris.
I'm guessing my "1/100th of available units" will always work, though I need to learn the math if I'm going to be serious about this stuff.