If you're serious about trading, understanding your position risk is crucial. That's where our handy tool for MetaTrader 5 comes into play!
Simply click on the chart to set a virtual stop loss, and watch as it calculates your risk in percentage terms, along with the monetary risk based on your specified lot size.
In the input section, you can choose between buy or sell, depending on whether you’re calculating risk from the ask price for long positions or the bid price for short positions.
Keep in mind, a wider stop loss on higher timeframes can lead to more significant risk since the price movements are scaled by larger increments.
This tool is versatile and works seamlessly with all types of securities, making it a must-have for any trader!
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