Setting commissions and order size

[TND-storm]

Hi, I'd like to know if I understood correctly how to set up commissions and order quantities for sim/backtest and live.

Let's say I get the lifetime account, I would have a commission of 0.04$ per open/close (so 0.08 round turn) for a 1000 $ lot.
Fo simulations and backtesting, if I enter a position for 1000$ I have to set commissions accordingly, but if I enter a position for say 10'000$ I need to change the commission to 0.4$ . Is it correct?

About order size, in live trading it depends on the broker IIRC. In simulation, to get an order of 1000$ I have to make and order of 1000 units (in a USD/- pair), is it correct?

Thanks
Best regards
Marco

[NinjaTrader_Jason]

Hello Marco,

Can you please use a commission level of 0.00004/9999999. I am using a high value here (9999999) so orders up to such a quantity will calculate correct commissions. Please set it up for 'Currency - Simulator' to have these commissions calculated for backtests.

Forex orders use base units. A micro lot consists of 1000 base units. So a commission of $0.04 needs to be divided by 1000, which is $0.00004. This will change to 4E-05 when you enter it which is fine.

You can use a minimum commission of 0.04, however it will only work if all orders you submit have a quantity of 1,000. If you submit an order for 2,000 (2 micro lots) or 10,000 (mini lot), it will not calculate commissions as you like. The commission level of 0.00004/9999999 ensures correct commission is calculated regardless of the order quantity.

Correct, if you like to backtest micro lots, please enter an order quantity of 1000.

[TND-storm]

Thank you, I'm going to test it and see if it behaves as expected!