GOLD MONEY MANAGEMENT NOT WORKING

Hi again.

 

This time the money management on a $5000 AUD Demo account using the GOLD instrument and bot made for GOLD is not working.

 

MM is set to TRUE.

 

Risk is set to 2%.

 

Max Lot set to 500.

 

Instead, the lot size comes out at 0.02 lots! (Using the bot on different instruments does not produce any difficulty with the Money Management.)

 

Help!

What is your stop loss price?  The MM is a simple calculation based on:

 

1. How many pips between the opening price and the SL price.
2. What lot size given this pip difference valuse, represents losing 2% of the current equity?

So if you have no stop, or a massive stop difference, the lot size will be tiny.  Same applies if you have a tiny account balance.

Did not know this. Thanks for the update.

 

The SL is very tight – tighter now that I checked the Trading Parameters in the Edit function! (But I had to change the “Pips” to POINTS on Gold for the MT4 to read it right.)

 

Thanks again for the quick response.

 

Also:  do you know the details of Profit Trailing? I can’t seem to find an accurate definition. (I have discovered that it is not “Trailing Stop” as the MT4 uses such.)

Trailing stop moves the stop based on some indicator value.

 

Profit trailing is a fixed number of pips trailing, for example 50 pips, meaning worst case profit will be 50 pips less than current profit level.

Strange because I set it at 4 pips and tested the bot – made on GOLD initially – on different instruments and when I put it on Demo or Live on the MT4 the 4 pips Profit Trailing does not come on like that at all. Very strange.

Strange because I set it at 4 pips and tested the bot – made on GOLD initially – on different instruments and when I put it on Demo or Live on the MT4 the 4 pips Profit Trailing does not come on like that at all. Very strange.

 

What is the minimum stop distance for Gold?  I suspect it is more than 4 pips.

Yes. I have it set at 6 pips (which I had to change to 60 “pips” for the MT4 to interpret it as 6 pips).