I’m new to the community here.& I would like to ask some 1 can make what I will call a money risk indicator.
I will explain.
let say I’m trading the MNQ so every tick is .50 per contract.
so, let’s say I want to risk per trade 20.00 this will be 40 ticks.
so I’m looking for an indicator that will plot a line 10 points away which is 40 ticks,
now while price goes in my direction let say 10 ticks I have a stop order for another micro, so now every tick have a value of 1.00. so I want to stay with my 20 Doller risk but this is now not 40 ticks away, it will be 20 away from 2nd entry. so, I want this line to move to new 20 Doller risk level. is this something that can be done?
I hope my question i written clear.