Number of lots

[dvercher]

Hello,

I am confused with the quantities when trading forex. I have a strategy realted to an ATM strategy. My broker is Interactive Brokers and they have minimum quantities for trading forex.

For example for the GBP the minimum quantity is 17000, so what I do is divide 17000 by 100.000 and I set 0,17M in the order quantity. Is that right?

I attach a screenshot with the minimum quantities and an example to see if I set this correctly in the ATM strategy.

Thanks

Sincerely

[NinjaTrader_Jason]

Hello dvercher,

M stands for million, so 0.17M would be 170,000. Please just enter a quantity of 17,000.

[dvercher]

Hello,

In the Sim account I tried to do a couple of trades one with 0,17M and the other one with 17000 (I set 0.017 but it changed it to 17000).

Both of them are losers by some pips but to my surprise it seems it doesn´t matter the quantity because in the first trade I lost about 40 and in the second trade 46 or something liek that. I am confused

I attach a screenshot.

Thanks again

Sincerely

[NinjaTrader_Jason]

Please note that you traded the sim101 account which does not have the limitation that IB accounts have.

[dvercher]

Hello Jason,

Thank you for the reply.

Yes, I know it is the sim account, the only thing that I don´t get is that it is supposed you lose more if you trade with 170.000 (or 0,17M) set in the order quantity than 17.000 set in the order quantity right?

Or Does the sim account works in a different way?

Thank you

Sincerely

[NinjaTrader_Jason]

There is only a difference of 1.5 and 2 pips between the entry and exit prices of the two trades. Does this clarify the PnL?

[dvercher]

Exactly, that´s what I don´t get

1,5 pips * 170.000. The PnL is -40

2 pips *17.000. The PnL is -46

Why?

Thanks

Sincerely

[NinjaTrader_Jason]

Is this cumulative?

What mode is used for the Account Performance-tab? Do you see PnL as per expected in the Trades-tab of the Account Performance-tab if you generate a report?

[dvercher]

I attach a screenshot of the Account performance tab. It is weird because I can just see the last trade and not the two trades

Thanks

[NinjaTrader_Jason]

Can you please select the Trades-tab instead of the Periods-tab.

[dvercher]

Thanks Jason!!

Got it

Sincerely

Have a good day

[dvercher]

One more thing Jason,

Does NT give the PnL in dollars or in GBP? I think it doesn´t matter the currencies but NT gives the results in $ right?

In the attached screenshot 2 pips of loss give -5,45. There are no comissions. I thought the PnL was in this case 1,7 * 2 = 3,4 but it is not the same result, so how is the PnL calculated?

Thanks in advance

Sincerely

[NinjaTrader_Jason]

Yes, it uses US dollar.

PnL is calculated using the conversion rate you see in the rate column of the Control Center-->Executions-tab.