Ok so here is the problem:
I really like using the stop trigger function. And the problem, at least for me, was knowing on the Nadex Indicative (Nadex is what I am trading) how to translate my dollar amount targets (stop loss or take profit) into Nadex ticks. Now I know my math skills aren’t good so I need a crutch. So I came up with this spreadsheet.
Are my numbers wrong?
Thanks.
Carlos.
P.S. The spreadsheet is for ES but can be for any instrument.
ES (US 500) - Sheet1.pdf (19.5 KB)
Looks like your math is correct. You can also find the conversion on the Apex Spread Scanner as far as how the undelrying ticks compared to how ti ticks on Nadex
I think you are making it harder than it is.
Every spread ticks in an increment of 1 (1, .1 .01 or .001 or .0001) and every tick is worth a $1.00 (See spread scanner to see tick size for each spread - also tick size for underlyings and ratios if you desire to have them.)
However the formula is a lot simpler than where you are going.
Subtract take profit from entry to get profit / by tick increment ie .1 for ES and you have the $ profit
ie bought at 1840.00 sell at 1850.25
1850.25 -1840.00 10.25 / .1 = $102.50 profit
Subtract entry from stop to get risk / by tick increment ie .1 for ES and you have the $ risk
or buy at 1840.00 stop at 1830.50
1840 -1830.50 9.5 / .1 = $95 risk