Avoid opening trade due to size of risk
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So, I am trying to figure out a way to avoid having my EA take certain sized trades. For example, right now after certain conditions are met, it will open a trade. As it does this, it looks at a range of candles to determine where the stoploss will go, (For a Buy Trade, It looks at the last 8 candles and places the stoploss 6 pips lower than the lowest price reached in that range, basically looking for the most recent swing low and placing the stop 6 pips below that. This is all done in the Buy Now block by the way). What I am trying to do is avoid taking trades let's say that are 50 pips or more from the point of entry to the stoploss. Since the stoploss is all calculated in the Buy Now block, how can I get this thing to measure the distance from the entry point to the stoploss point calculated and avoid opening a trade if the stoploss calculated is 50 pips or more? -
Anyone have any ideas?
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Maybe one of the 'Risk %' money management options will do what you want. They auto-size your trade according to risk. If you're trading small size it should work. Can't trade below your broker's minimum size. Otherwise you might want a minimum trade size option to go with the max size option (Volume upper limit) that's already there.