The "Open By SL" feature on PF1 allows you to trade smarter by calculating your lot size based on your stop loss (SL) distance and account risk settings. This makes managing risk easy, especially when trading volatile assets or during evaluations.
How It Works
Instead of guessing your lot size, you simply:
Choose the risk percentage (e.g., 10%, 25%, 50%, etc.)
Set your Stop Loss (SL) price level
The platform calculates the correct lot size for you, so your risk is capped exactly based on your max risk settings.
It ensures you never risk more than your set percentage, even if your SL is wide or narrow.
Examples
Account size: $5,000
Trading Pair: XAUUSD
Maximum risk setting: 1% (i.e., $50)
Entry (Sell) price is: around 3325.29
SL is set at: 3330
You chose: 50% Risk Multiplier → 0.50% risk → $25
That gives you about a 50-pip SL.
So PF1 automatically calculates a lot size of 0.05, meaning if price hits SL, you only lose $25 (50% of your 1% risk cap).
if you choose 100% risk, the platform will place the trade using a 0.10 lot, risking the full $50 (1% of your account) on that same SL.
You Can also Set Take Profit (TP)
Even when using “Open By SL,” you can still:
Set your TP manually
Or use Auto Set TP to define a reward-to-risk ratio
This makes it flexible enough for both scalpers and swing traders.
Always ensure your Stop Loss is realistic, not too tight, or you'll risk getting stopped out unnecessarily. And remember , the risk percentage is based on your account’s max risk setting, not your total balance.