MB trading currency quote 1/10th of pip

[Reggie1]

Hi,

I just wanted to find out why you need to set the quote currencies in ninja misc options to 1/10th of a pip for MB trading? Does this affect the size the I set for my stop/target.

Thanks for any assistance
Reggie

[NinjaTrader_Jason]

Hello Reggie,

The ATM orders will be submitted as per the pip size used. For example, if you use an ATM strategy that uses value of 20 for the stop loss and profit target, they will be submitted as follows using TenthPip:

Entry price: 1.4326'5
Stop loss: 1.4324'5
Profit target: 1.4328'5

[ohowie]

Using Gain/Forex and tenthpip

What is the proper way to do this?

If a Gain customer does not use the tenths setting does that mean it maybe costing more when placeing orders?
I like the tenths feature (looking at price info) but would the correct way to handle TickSize be:

divide by yet another 10 (i.e. / TickSize / 10) or
set something different in Instrument Mangaer?

Would I have to set stop loss and take profits at 200 to handle 20?

I'm confused, Help
Howie

Hello Reggie,

The ATM orders will be submitted as per the pip size used. For example, if you use an ATM strategy that uses value of 20 for the stop loss and profit target, they will be submitted as follows using TenthPip:

Entry price: 1.4326'5
Stop loss: 1.4324'5
Profit target: 1.4328'5

[NinjaTrader_RyanO]

Hi Howie,

Thank you for your post.

GAIN provides data to the tenth pip meaning that 4 places after the decimal. All forex instruments have the tick size set to .0001, so whether the data gets that far it will be dependent on the data provider.

If you are using a larger increment, then when placing orders the stops and targets should be placed to manage the size of your current quoted price. In most cases this will include smaller stops to accommodate larger pip quotes.

[ohowie]

Ryan,

Thanks for the quick reply. I selected tenthpips and now 1 order = $10. If its a mini account should I change the POINT VALUES to 10,000. my Tick Size for the EURUSD is .00001

Thanks again
Howie

[ohowie]

Forex is feeding .00001 (tenths)

[ohowie]

Using Gain Capital Forex.com and NT7 regarding Quote Currencies (FX) in tenthpip

Using Gain Capital Forex.com and NT7 regarding Quote Currencies (FX) in tenthpip.
What should this be set for? Gain feeds out 5 (including a tenth). So in order to take advatage of their fractional spreads (i.e. 2.3) I should set to tenthpip?

Thanks guys,
Howie

[NinjaTrader_Jason]

Hello Howie,

You will need to set 'Quote currencies (FX) in' as per the Gain account you have. See the information below from our Gain connection guide.

If you have a "FIXED" spread account set the value for the property "Quote currencies (FX) in" to "Pip"

If you have a "FRACTIONAL" spread account set the value for the property "Quote currencies (FX) in" to "TenthPip"