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Size issue with IB on Spot Forex

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    Size issue with IB on Spot Forex

    If I want to submit an order in code for 405,000 EurUsd spot forex how would I write it?

    I am using oif and it submits the order but should it not read 0.4M rather than 405,000?

    Code:
    PLACE;"+accountid+";"+symb()+";BUY;"+sizestr+";STOPLIMIT;"+
    limitep.ToString()+";" + entryp.ToString()+";DAY;;"+symb()+"orderid;;";
    Last edited by Mindset; 10-13-2009, 12:07 PM.

    #2
    Hello Mindset,

    I believe both values are possible. 0.4M represents a value of 400,000. So I suggest to use an order quantity of 405,000.
    JasonNinjaTrader Customer Service

    Comment


      #3
      Update

      Ok - it seems that because you can go down to 1,000 on forex size with IB - amounts divisible by 10,000 get translated literally whilst other amounts get rounded.

      So....

      240,000 will be translated to 0.24M

      237,000 = 237,000.

      My simple solution was therefore to round size up to the nearest $10,000.

      NB for those not used to IB - spot forex is not traded in mini , micro or standard sizes but in 'value" - so you buy/sell eg $240,000 gbp of the cable pair.
      If your account has a balance of > 15k you can size down to 1k.

      Took me ages to find that out.
      Last edited by Mindset; 10-19-2009, 08:54 AM. Reason: grammar

      Comment


        #4
        On Ideal exchange, the minimum is not 1k but 1 unit.
        If someone has an idea for being able to round with something lower than 10K with Ninja...

        Comment


          #5
          ideal pro

          Depends what you are trading apparently...
          eurusd for instance min order is 20000 USD which is say 16k gbp but you can trade 21k, etc

          aud = 35,000 minimum and eur = 20,000 minimum so that should be straightforward with coding up my position sizing then (lol)

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