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CityIndex CFDs wrong Point Value

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    CityIndex CFDs wrong Point Value

    Many of CityIndex's CFD instruments have the wrong point value:

    UK 100
    US Tech
    Germany 30


    All have point value of 0.1. This is incorrect. A 1 point move in price nets $1 per contract, therefore the point value should be 1. My system is using point value to calculate position size and it is working out positions that are x10 too large because of this.

    #2
    To clarify, the 'tick size' in .01 and that is correct - these CFDs are quoted in a tick size of .01. The 'point value' is 10:Is this what you observe in your NinjaTrader? Or is it different from my screenshot?

    What quantity are you trading?

    Are you placing orders from within NinjaTrader? Or from another program/website?

    Are you placing these trades to the Sim101 account or to a live CityIndex account?
    Last edited by NinjaTrader_PatrickG; 10-30-2019, 05:58 AM.
    Patrick G.NinjaTrader Customer Service

    Comment


      #3
      Hey Patrick thanks for responding. Your screenshot shows UKOIL which isn't a CityIndex CFD its FXCM.
      If you look at the exact instruments I listed above:

      UK 100
      US Tech
      Germany 30

      You will see the point value I describe. Note that CityIndex is the UK arm of Forex.com, so you're looking for instruments that have Forex.com in their Symbol map - which the UKOil instrument you've posted does not.

      To Answer your questions, its from within Ninjatrader and using a CityIndex account.

      Comment


        #4
        Thank you for pointing that out. @UK100 is point value 0.1 and tick size 0.01 by default:

        https://www.screencast.com/t/dm0Jg2HvUd

        I placed a trade to a paper CityIndex account and I get 0.10 per point:

        https://www.screencast.com/t/RTrjYeFe

        Are you stating this value should be 1.00 per point?
        Patrick G.NinjaTrader Customer Service

        Comment


          #5
          Hi Patrick,

          Yes, If you place the trade with 1 contract and check your PnL when the market has moved 5 points you should have UKP £5 profit/loss (a bit more if your account is in USD). This indicates a point value of 1.

          I have verified this on CityIndex's web trader in the attached screenshot. I placed a buy order at 7300, stop and target of 5 points and it automatically filled the PnL as 5/-5. Indicating a point value of 1.

          https://trade.loginandtrade.com/cityindex/?lang=en-GB#/
          Attached Files

          Comment


            #6
            I see this same value as well when I place test trades, however, I am wondering if there is a way to verify that is actually showing a denomination. Right now, what this looks like to me is that its showing the gain/loss is points. I.E. a display that says $5/-$5 instead of 5/-5.

            I am relatively unfamiliar with CityIndex's web platform. Are you familiar with either A) how to see a value that shows a denomination for the PnL or B) documentation or settings which state that this value has denomination implied/
            Patrick G.NinjaTrader Customer Service

            Comment


              #7
              Hey Patrick,

              Yes city index web trader lets you enter Stop/Limit orders with a Price, Number of Points, of expected PnL. If you enter any one of these the other two are calculated automatically.

              As you can see from the attached screenshot. Entering a target order of 15 points, on a position of 10 contacts automatically posts profit expected profit of £150. This means that the point value is 1.

              1 (point value) x 15 (points) x 10 (contracts) = £150 Pnl.

              By the way the same might be true for other instruments. UK100, US Tech and Germany 30 are the only ones I use that I've observed the erroneous point value. There may be others.

              Comment


                #8
                Thanks for the clarification.

                After some further investigation, it looks like this is expected due to the different point values required for different CFD providers. For example, 0.01 would be correct for FXCM. In the meantime, manually adjust the point value of these instruments to match your needs for City Index.
                Patrick G.NinjaTrader Customer Service

                Comment


                  #9
                  Hi Patrick

                  yeah I noticed that UK100 is shared with FXCM and CityIndex, but the other two US Tech and Germany 30 are CityIndex-only CFDs and they are wrong too.

                  Comment


                    #10
                    My GERMANY30 have a point value of 1 by default on my end, so your GERMANY30 settings don't match ours at the moment. An instrument update (or a manual change) will resolve this. USTECH100 is incorrect on our end and will be updated on our end and should also be resolved by an instrument update once we've pushed that change.

                    To reset your instruments, please take the steps below.
                    1. First, disconnect from any data providers by navigating to the Control Center > Connections menu, and left-click on “disconnect” that appears to the right when hovering your mouse over any active connection
                    2. Next, reset your instruments by navigating to the Control Center > Tools > Database Management
                    3. In the Database Management window, under the “Update instruments” section, ensure that “General properties”, "Futures expiries" and “Symbol mappings” options are checked and then click Update
                    4. Lastly, restart NinjaTrader for the changes to occur


                    Patrick G.NinjaTrader Customer Service

                    Comment


                      #11
                      Hi Patrick, thanks for the reset info and for the USTECH update - I got notified that USTECH had been fixed and I had to download the changes.

                      I followed your instructions and have reset all my instruments just to make sure.

                      I noticed that USCRUDEOIL and USCRUDEOILMINI have stopped working. Not sure if this was caused by the rest or not. Are you able to view and get updates of these instruments on CityIndex?

                      Comment


                        #12
                        It looks like the Database Team inadvertently left some notes in the symbol mapping for these instruments. I've reach out to have this corrected.

                        In the meantime, erase everything after 'Mini' for USCRUDEOILMINI and everything after 'Oil' for USCRUDEOIL in the mapping section. After changing this mapping, restart NinjaTrader.
                        Patrick G.NinjaTrader Customer Service

                        Comment

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