position size

[junkone]

i recently subscribed to NT licence.
how do i change the posoition size that its 25000 or 35000 based on IB lot sizes for forex.
i am doing chart trading.

[NinjaTrader_Chip]

Hello junkone,

Thank you for your post.

Are you referring to trading fractional mini lots; assuming 1 mini lot is equivalent to 10k of the pair?

[junkone]

No with IB, the lot size changes with the instrument to keep up with the ideal pro price values.
for eg. AUDUSD lot size = 30,000
USDCAD lot size =25000

[NinjaTrader_Jason]

Hello junkone,

You can change order quantity in the 'Order qty' field to your liking.

To submit an order of 30,000, please enter a value of 0.03M. Enter 25,000 to submit an order of 25,000.

[Stem1]

Hi, I'm not clear on the reply, can both 0.03M and 30,000 be used for the same order quantity for IB FX?
So for a mini lot order of 4650, could it also be enterred as 0.00465M?
Thanks

[NinjaTrader_ChristopherJ]

Can you tell me if your account is currently configured for Mini or Micro lots with IB.

[Stem1]

I'm not aware of a Mini lot or Micro Lot option, how do I configure that?
Thanks

[NinjaTrader_ChristopherJ]

This would be configured on your brokers end. Yes you may input a value of 0.00465M for a value $4,650 and suggest using the 0.03M format for an order of $30,000.

[Stem1]

In the New Strategy>Order Properties>Default Input, if the strategy is for EUR/JPY, is the number entered referring to lots, units or US Dollars?
Thanks

[NinjaTrader_ChristopherJ]

This will depend on the lot size convention your broker trades in. I have provided a link below that goes over running strategies with Forex instruments.

http://www.ninjatrader.com/support/helpGuides/nt7/running_fx_strategies.htm