I am working with 3 currencies. I am trying to get a value (price of Y per Z) that is less 39X.
Let me elaborate with an example.
3% of 1300X = (39 X). I want to take 39X away from the Z/Y pair.
The information I do have:
1.40510848 Z is worth 8432 Y. 8432 Y and 1.405 Z both equal 295X.
Current price of each Y = 0.00016591 Z.
1 Z= 210.47 X
Will this calculation work 295 X - 39 X = 256 X = 1.21 Z(I can get the conversion of X to Z easily)/8432 Y = 0.00014350094
And 0.00014350094 is where i'd set my stop loss? Is the difference between 0.000016591 Y - 0.00014350094 Y equivalent to taking 39X from 295X?
What I really want is to make sure I don't lose more than 3% of my total funds in X on any one trade. I only have the option of setting the stop loss in currency Y however, which is how much Y is worth per Z.