Given a 2% risk of account balance, an entry price, and a stop loss price, can someone give me an example of the function that would calculate the lots required to manage risk for each position? I would like to use the function convertPipToCurrency() to achieve this.

Thanks,

Brad

I use the following in my strategy... I only recently wrote this myself so it's possible that it's not fool-proof or perhaps even just wrong.

private double CalculateOrderAmount(Instrument instrument, double closePrice, double riskPercentage, double stopLossPips) {
        double amountToUseTemp = this.account.getBalance() * riskPercentage; // 10000 * 0.01 = 100
        double amountToUseTemp2 = amountToUseTemp / stopLossPips; // 100 / 200 = 0.5
        double amountToUseTemp3 = amountToUseTemp2 * 10000; // 0.5 / 0.0001 = 5000

        double amountToUse = amountToUseTemp3;

        if (instrument.getSecondaryCurrency().getCurrencyCode() != "USD") {
            int mod = 1;
            if (instrument.getSecondaryCurrency().getCurrencyCode() == "JPY")
                mod = 100;
            if (instrument.getPrimaryCurrency().getCurrencyCode() == "USD") {
                amountToUse /= (closePrice / mod);
            } else {
                for (Instrument ins : this.latestConversions.keySet()) {
                    if (ins.getPrimaryCurrency() == instrument.getSecondaryCurrency() && ins.getSecondaryCurrency().getCurrencyCode() == "USD") {
                        amountToUse /= this.latestConversions.get(ins);
                    } else if (ins.getSecondaryCurrency() == instrument.getSecondaryCurrency() && ins.getPrimaryCurrency().getCurrencyCode() == "USD") {
                        amountToUse /= (1 / this.latestConversions.get(ins));
                    }
                }
            }
        }

        double correctedAmount = amountToUse / 1000000; // 0.005

        return correctedAmount;
    }

And just a quick note. As you can probably see I am passing in 1% risk as 0.01 rather than 1.