Using Risk to Reward Tool on Trading View

[moonchild]

The risk to reward tool enable you to measure the number of pips or pippettes you'll be risking in a trade and they also give you a picture of the reward you'll get if the trade goes in your favor, in my opinion the tool is one of the best you'll come across in the app.

It's simple to you, go to the left pane and select it and then navigate to the place you want to place your trade and extend it from there and then it will automatically count the pips numbers to be won or lost and also give you a mental picture of what to expect.

You can then go ahead and place a sell limit or buy limit to trigger your order when it gets to that level.

 

[FinTrader]

A very interesting tool. And it is important that this can help not only to see how many points you would risk in trading, but also to calculate the lot size in a transaction so as not to violate risk management rules and clearly know how much money you can afford to lose in a single transaction.