Wiki source code of Forex
Version 3.1 by Drunk Monkey on 2020-04-11 21:14
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2.2 | 1 | == Risk Management - Pip values and Lot Sizing == |
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2.1 | 2 | |
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2.2 | 3 | sdfsdf |
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2.1 | 4 | |
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2.2 | 5 | == Reference Links == |
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| 7 | * [[BabyPips Position Size Calculator>>https://www.babypips.com/tools/position-size-calculator]] | ||
| 8 | \\**Pros**: | ||
| 9 | It is simple to use. If you wish to do the calculations for other trades, the information remains so you can change only what you need to change. It also shows the results in the following standard sizes used by the brokers; units, lots, mini lots, micro lots. | ||
| 10 | \\**Con**: | ||
| 11 | You need to put in the exchange rate between your account currency and the base currency if the two are not the same. | ||
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2.3 | 12 | |
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2.4 | 13 | * [[Investing.com Currency Converter>>https://www.investing.com/currency-converter/]] |
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2.5 | 14 | \\Often needed when you are calculating risk for Forex pairs not in your base currency. Near real time rates. Also includes the various digital currencies. |
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2.4 | 15 | |
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2.5 | 16 | * [[Investing.com Forex Pip Calculator>>https://www.investing.com/tools/forex-pip-calculator]] |
| 17 | \\Contains data for most, but not all, currency pairs. Shows the results in a table so you can quickly see the relationship between the Forex pair and the pip value in your account currency. | ||
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2.6 | 18 | \\I recommend that you put in 100,000 for the units as that is a standard "lot" size and then scale it from there. |
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