Some providers quote US indexes with 0.01 tick sizes, for example, in DOW (US30), where the Index itself trades in 1-point increments, we have 100 x more ticks in these mirror instruments. This can cause some needed fiddling with chart templates etc. Whilst I realise the providers can and do price in these increments, what downside would there be to manually set the tick size in the instrument list for those instruments to 1, rather than 0.01? I tried it and all seemed to work fine. I am guessing that it means I cannot place orders in between the 1 increments, which is fine. Are there any other issues this will cause? Would you recommend against it? Thanks.
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Manually change instrument tick size in Instrument list
Hello,
Some providers quote US indexes with 0.01 tick sizes, for example, in DOW (US30), where the Index itself trades in 1-point increments, we have 100 x more ticks in these mirror instruments. This can cause some needed fiddling with chart templates etc. Whilst I realise the providers can and do price in these increments, what downside would there be to manually set the tick size in the instrument list for those instruments to 1, rather than 0.01? I tried it and all seemed to work fine. I am guessing that it means I cannot place orders in between the 1 increments, which is fine. Are there any other issues this will cause? Would you recommend against it? Thanks.Tags: None
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Hello pjsmith,
Thank you for your inquiry.
Unless you don't plan to trade the instrument, I wouldn't necessarily advise changing this value at all. It is the point value and tick size of the instrument that determine the pip value of the instrument, and adjusting them will cause issues with the PnL reporting when you are executing trades. The value is extrapolated by the platform by multiplying the tick size and the point value. If you change the tick size to 1 from .01, this changes the pip value of what's reported in the platform. This would create a PnL discrepancy between NinjaTrader and what's actually happening at your broker. You'd begin to see difference between the PnL that's reported on your chart's PnL display, and the actual values coming from your broker on the 'Accounts' tab.
Please let us know if we may assist you any further.Zachary S.NinjaTrader Customer Service
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