I am using a grid system and I want to understand how to calculate the average price for open orders. How to calculate the balance point where I can close these orders without losses. For example, let say the EURUSD is going up and my entries are sell trade. I place 7 sell trades in the wrong direction. If I know the average price, I will know where to place my take profit to exit without losses or with little profit. The EURUSD can goes up for let say 300 pips and I have only to wait a pullback till the balance point. If I have trade only 0.1 lot, my floating drawdown will be only 300 USD. I need help to understand and well calculate the average price for open orders. Thank you.
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