Trading Forex mini & micro lots.

[JHunt]

How do I place an order for a forex mini or micro lot. I can't enter .1 or .01 in the order quantity. I can only enter 1, or multiples of 1.

[NinjaTrader_Joydeep]

Hello JHunt,
Welcome to the forum and I am happy to assist you.

To assist you further may I know who your connectivity provider/broker is?

I look forward to assisting you further.

[JHunt]

I am using Global Gain.

[NinjaTrader_RyanL]

Hello JHunt,

Thank you for this information.

You will want to enter forex data in one of two methods, either unit size or lot size. Using whole integer values would mean you are trading full lot sizes, but you can trade forex by specifying the following quantities, which if you are using the sim101 account I would recommend that you use unit sizes.
A standard lot is equal to .1M
A mini lot is equal to .01M
A micro lot would then be 1000.

1,000 = .001M
10,000 = .01M
100,000 = .1M
1,000,000 = 1.0M


Please let me know if I can provide any further assistance.

[Smiley]

Hello, I too am having issues with Gain and NJ order size. (I am using a Gain sim account now). The customer service rep vie email says my Gain sim account is setup as a mini-account, and that NJ sends the orders in whole numbers based on the size of my Gain account (ie, if I have a mini-account it sends in the corresponding size of lot). So if I type in "1" it is supposed to send the order in as a "mini-lot".

However, the P/L is showing it is sending in whole lots, as you specified in your response. ($10 per pip on EURUSD is reflected).

When I attempt to send an order in as ".01M" for 10,000 units, the P/L now reflects $100,000 per pip and blows up the sim account.

Is this the expected behavior? (according to this thread it is not). I want to trade in mini-lots, but haven't figured out a way that works.

[NinjaTrader_RyanL]

Hello Smiley,


Thank you for your forum post.


You will use what the account is enabled for that you connect to on the simulator,
so you would use 1 for QTY. The simulator will adapt its size for it to be mini or standard based on if the accouint connected is a mini or standard account


GAIN uses QTY sizing of 1 and that all others use the native QTY size of forex I.E.(1,000/10,000/100,000)


Unfortunately, NinjaTrader's simulation account (Sim101) does not accept mini-lots. Only standard lots can be traded in simulation.


Please let me know if I can provide any further assistance.