Forex micro lot

[alex.nt]

Hi,

Assuming my broker supports mini and micro lots for Forex market (10,000 and 1,000) - how should I set the quantity in my strategy?

[NinjaTrader_CalH]

Hello Alex.nt,

Thank you for your post.

You will need to put the respective order size for the order quantity.

If you want to do a mini lot you will enter 10,000

[alex.nt]

Hmm, at the moment I submit order with quantity = 1. That transforms into 1 lot.

If I enter 1000 then it would be 1000 lots.

Or, are you saying that some brokers treat quantity as lots while others as $1?

[NinjaTrader_CalH]

Who are you connected to? this is displayed in the lower left hand corner of the control center

[alex.nt]

I am not connected to any broker, only to market data, I am using the built-in NinjaTrader simulation.

[NinjaTrader_CalH]

Yes, you would need to use the contract size for order placement.

[alex.nt]

I believe there was a confusion.

How do I set order quantity for micro-lot (1,000)? I assume the answer should not depend on broker, correct?

[NinjaTrader_CalH]

For an automated strategy you need to set the contract size to the amount you want to trade in.

Micro - lot = 1,000
Mini - lot = 10,000
Lot = 100,000

[alex.nt]

OK, you are correct, apparently the strategy used custom UPL calculation with PointValue involved