EFX BP and NT?

[Burga1]

Greetings,

I need help with a simple question I think. My broker is EFX/MBT. They allow "mini lots" of 10000. I tried to submit an order of 2 lots of 10000 each (thus 20000) total and it rejected due to "insufficient funds". My EFX account displays a buying power of "2.38 lots", thus 23800 units...

Why did the order reject? It works perfectly fine in the "Live Demo"...20000 is only 2 lots. EFX support seems to blame NT because NT uses "Standard lots" of 100000, but that is only for testing, is it not...? NT doesn't care how many units are submitted per order, NT is not a broker...so what is the story?

[NinjaTrader_JoshP]

Please check to see that you have the subpip feature enabled in Tools->Options->Misc tab.

Also, perhaps changing some settings in the Instrument Manager pertaining to your particular instrument would work too? Maybe try something on the Point Value.

[Burga1]

Yes, I have the subpips enabled. What is the point value? Are you saying that the order should have processed normally (as I believe)?

[Burga1]

EFX support is telling me I should submit the order as ".1" for a 10000 unit mini lot...however I do not believe that to be true. As stated before, the Live Demo (using 10000 as my order quantity) works perfectly....

[Burga1]

Trying to submit ".1" is giving me errors when trying to compile my strategy, so that cannot be it...

[NinjaTrader_JoshP]

MBT should support 10k lot sizes so placing an order of 1 lot through NinjaTrader should hit your needs. You are correct in your assumption that NinjaTrader is not the brokerage and that is correct. Try contacting MBT directly and see if there is some settings they can do to your account to allow for 10k lot sizes. If this does not work then I will have to forward you to the NinjaTrader support staff who are more familiar with these settings.

[Burga1]

If I submit "1 (lot)" in my EnterLong/EnterShort commands and change the "Point Value" in the "Instrument Manager" for the EURUSD to 10000 (from 100000) will that correctly send lots of 10000? Is that what the "Point Value" is used for (to change "Standard" lots to "mini's")? 10K is the normal "mini lot" for MBT...

[NinjaTrader_JoshP]

It may or may not work. I do not know since this is not my area of expertise. Give it a shot. Does MBT allow for your account to distinguish between a mini lot account or a standard account? I know GAIN allows you to distinguish. You will want to see what MBT can offer in this regard. I know for a fact that using EnterLong() you cannot send 0.1 as a quantity.

[Burga1]

No dice. I've tried submitting "10000", and "1" (rejected as being below the min. of 1000). And since ".1" isn't possible, can somebody using MBT with NT please tell me how to submit a "mini" lot?? This is becoming extremely frustrating.

[mrlogik]

Burga1,

I also use MB / EFX for forex trading.

Prior to NT I was submitting orders as follows:

ordersize = #minilots * 10000

or you can say

ordersize = #lots * 100000

ordersize should be a variable of type double.

private double ordersize;

------

I don't know if you're trying this w/ your live account, but I recommend using their demo and play around w/ the numbers in an NT strategy or manually w the MB Navigator.

Let me know how you make out. I have to get this working w/ NT as well.

Thanks.
Anthony

[Burga1]

Thanks,

I have used the following using a "live demo", without any problems at all (EURUSD):

EnterLong(10000, "HI Entry"); //enter 1 mini lot LONG

If I do the same thing with the "live" account I get an NSF error. I then attempted to change the "Point Value" in the "Instrument Manager" for the EURUSD to 10000 from 100000 and submitted an order with this:

EnterLong(1, "HI Entry");

That rejects because it is too low, "below minimum quantity of 1000" message...

I already know that submitting an order for ".1" cannot be done in NT, it will not compile the strategy...so what gives??

[mrlogik]

Why are you using "1" for the live account?

For my live account w/ real money I used 10000 for 1 mini lot and that seemed to work for me.

The same as what you have for your "live demo"

[Burga1]

Yes that is what I thought (using the same as the "live" demo). I used "1" because I thought 1 lot = 10000...in MBT the buying power (BP) is given for each currency in terms of 10000 unit lots, thus if BP = 5 you can purchase 50000 units. Thanks for the input.

[mrlogik]

no problem.

[NinjaTrader_JoshP]

Hi Burga1,

Try this: http://www.ninjatrader.com/webnew/support_MB.htm