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Thread: Question about Funyoo's mm risk and lotsdigits

  1. #1
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    Default Question about Funyoo's mm risk and lotsdigits

    Hi Funyoo:
    I am going through several thread and some are rather lengthy as you already know..

    Couple of questions here and I think you can answer these for me to have clear understanding how you your EA works.

    mm risk --> if I set to 1 (1% of the account, etc), is this 1% risk per lot size or 1% apply to total lot size combined? example: I am reading Sniper EA. I can open 5 positions. Let's say, i opened 5 orders. Is this 1% risk apply to each order or all 5 orders combined risk?

    Lotsdigits --> This is always hard to understand subject for me. Since may brokers uses different term on mini and/or micro, I need to understand in the EA. It said 1 for Mini and 2 for Micro. Mini and Micro is based on value of pips? or lot size digits?
    example: Gain (forex.com) and many other brokers like Alpari -classic and GoMarkets, they offer account under 'standard account', but we are allowed to trade the lot as low as 0.01. So, 0.01 lot on these account's pip value is 10 cents, whereas, real mini account's 0.01 (like IBFX mini account) lot value would be 1 cent. Some brokers won't allowed 0.01 lot and only 0.1 lot. In this case, 0.1 lot value is $1.00. So, how to determinded this settings?
    Is it safe to assumed if 0.01 lot value = 10 cents is consider mini account, thus, use lotsdigits = 1 and 0.01 lot value = 1 cent is consider micro account, thus, use lotsdigits = 2
    What about broker only allow 0.1 lot ($1.00 value) to be the lowest lot size -> is this to be consider 'mini' account? In brokers' terminology of the account type, this is consider 'standard account', but your EA's settings, it doesn't have an option.

    Thanks for all your work. I am asking these basic questions out of the way, so that I have full understanding of your basic templates of EA creation and better understanding for testing.
    Last edited by 4x4me; 07-03-2010 at 17:16.

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    Quote Originally Posted by 4x4me View Post
    Hi Funyoo:
    I am going through several thread and some are rather lengthy as you already know..

    Couple of questions here and I think you can answer these for me to have clear understanding how you your EA works.

    mm risk --> if I set to 1 (1% of the account, etc), is this 1% risk per lot size or 1% apply to total lot size combined? example: I am reading Sniper EA. I can open 5 positions. Let's say, i opened 5 orders. Is this 1% risk apply to each order or all 5 orders combined risk?

    Lotsdigits --> This is always hard to understand subject for me. Since may brokers uses different term on mini and/or micro, I need to understand in the EA. It said 1 for Mini and 2 for Micro. Mini and Micro is based on value of pips? or lot size digits?
    example: Gain (forex.com) and many other brokers like Alpari -classic and GoMarkets, they offer account under 'standard account', but we are allowed to trade the lot as low as 0.01. So, 0.01 lot on these account's pip value is 10 cents, whereas, real mini account's 0.01 (like IBFX mini account) lot value would be 1 cent. Some brokers won't allowed 0.01 lot and only 0.1 lot. In this case, 0.1 lot value is $1.00. So, how to determinded this settings?
    Is it safe to assumed if 0.01 lot value = 10 cents is consider mini account, thus, use lotsdigits = 1 and 0.01 lot value = 1 cent is consider micro account, thus, use lotsdigits = 2
    What about broker only allow 0.1 lot ($1.00 value) to be the lowest lot size -> is this to be consider 'mini' account? In brokers' terminology of the account type, this is consider 'standard account', but your EA's settings, it doesn't have an option.

    Thanks for all your work. I am asking these basic questions out of the way, so that I have full understanding of your basic templates of EA creation and better understanding for testing.
    Hi 4x4me,

    MM : the risk is for each order.
    Lotsdigits ; 1 for mini lots (0.1), 2 for micro lots (0.01).

    You are right about cent accounts, the EA will only give you 0.01 and 0.1, disregarding if we are on a cent account or not. That means that you have to adapt the money management yourself.

    You just need to take into consideration the broker on which I am working (currently Instaforex where 0.01 lots is nano lots) and your broker.

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    Quote Originally Posted by funyoo View Post
    Hi 4x4me,

    MM : the risk is for each order.
    Lotsdigits ; 1 for mini lots (0.1), 2 for micro lots (0.01).

    You are right about cent accounts, the EA will only give you 0.01 and 0.1, disregarding if we are on a cent account or not. That means that you have to adapt the money management yourself.

    You just need to take into consideration the broker on which I am working (currently Instaforex where 0.01 lots is nano lots) and your broker.
    Thanks for taking time to answer my questions.

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