How to set a risk of 1% of the account size on each trade?

[havy.tom24]

Hi!

How could I set a risk of 1% of the account size on each trade?

I saw that the enterLong and enterShort functions have a parameter named quantity, but i don't understand what it really represents. What i would like to achieve is controlling the size of the positions in dollar. Is there a way to know the right quantity to input for a wanted dollar size ? For example, for an account of 1000$, enter a long of 10$ precisely (risking 1% per trade), and increase position sizes as the account grows.

[NinjaTrader_ChelseaB]

Hello havy.tom24,

The quantity for an order is the number of contracts for that order.

Calculating a number of contracts based on account size or another value would require custom code to calculate this.

http://ninjatrader.com/support/forum/showthread.php?p=493841#post493841

The Instrument.MasterInstrument.TickSize and .PointValue can be used. For example on the ES the TickSize is .25 and the point value is $50, making each tick $12.5.

[havy.tom24]

Thanks your reply,

I understand Tick value, but in the case of BTC, I still don't get how to know how many tick values is 1 contract. I need to know how much money I risk when I open a position (long or short) of quantity 1. Could you please clarify that point?

[NinjaTrader_ChelseaB]

Hello havy.tom24,

The two are not related. A Tick can refer to the smallest price increment an instrument can change and can also refer to information about a trade occurring (real-time incoming ticks).

A contract size, or quantity, is the number of shares. This is not a price.

The number of shares multiplied by the point value would show how much gain or loss for those shares as the price goes up and down.

[havy.tom24]

Ok, thank you. Have a good day.