How to determine minimal lot for given instrument and account?

[fx.practic]

Hello.

How to determine minimal lot How to determine minimal lot for given instrument and account?

I found only this: Account.ForexLotSize, while possible values of InstrumentType can be:

InstrumentType.Forex
InstrumentType.Future
InstrumentType.Index
InstrumentType.Stock
InstrumentType.Cfd
InstrumentType.Option
InstrumentType.Spread

Does it mean, that minimal lot for all instruments types (except Forex), for all instruments, for all brokers is 1?

[NinjaTrader_Jim]

Hello fx.practic,

Thanks for opening the thread.

Account.ForexLotSize is a property that gets set per account and does not get assigned per instrument. This essentially acts as a multiplier so order submission so Forex orders can be submitted in terms of lots, mini lots and micro lots.

This value won't change based on the instrument used, and only orders submitted to Forex instruments will use it.

If you have any additional questions, please don't hesitate to ask.

[fx.practic]

Is it possible to determine within NinjaScript minimal lot for particular forex instrument for given broker?

[NinjaTrader_Jim]

Hello fx.practic,

When you refer to "minimal lot," are you referring to the minimum number of units (smallest lot size) that you can use for order submission, or are you referring to calculating the value of a mini lot of a given instrument?

I look forward to your reply.

[fx.practic]

Do I have a choice?

I mean just anything can avoid additional parameter in strategy.
If I can get both - I'd like to know how to get (or calculate) both.

But. of course, "minimum number of units (smallest lot size) that you can use for order submission" interesting me more.

I creating strategy, that determine stop loss in ticks, and then calculate lot keeping stop loss in USD constant.

I'd like to know how let it work on any instrument type, including Futures, Forex, Cfd.
And let it work on different brokers accounts.

[NinjaTrader_Jim]

Hello fx.practic,

Thanks for the detail.

There are a lot of factors to consider to model position sizing behaviors that will work well between multiple broker accounts, instruments and instrument types. There is not a way for NinjaTrader to dynamically get margin information from your broker so it can be used for calculations in a NinjaScript.

Additionally, I cannot suggest a way to get commissions on an instrument before submitting an order. I can only suggest to getting the commission after an execution has been made and caught in OnExecutionUpdate().

A minimum order size would also be something specific to your broker and would be best checked with them.

As these values would change between brokers, I would not advise an approach to develop a universal calculation for position sizing.

If there is anything else I can do to assist, please let me know.