Download MetaTrader 5

Possibly stupid question re lot sizing on Futures

To add comments, please log in or register
How to use MQL5.community messages editor? Find out in the article!
RichyF1
46
RichyF1 2016.05.22 14:40 

Hi there

Wondering if somebody can help me regarding a possible stupid question regarding lot sizing? I have come across from spreadbetting and found MT5 as a mature platform that I can use for both backtesting and auto (algo) trading. 

When back testing against Futures I use lots instead of £/$ per point but the relationship between £ and lot sizes seem different for each Symbol.

An example:

Short UK100 (FTSE100) 28 lots, open at 6172, close at 5882, 290 pips = £8123 profit. (290 pips x £28 = £8120)

Short US30 (DJ30) 10 lots, open at 17217, close at 16243, 974 pips but £6753 profit (974 pips x £10 = £9740!!).

A lot size of UK100 seems to be £1 but US30 seems to be £0.69. I cant seem to find anything in the contract specification about this?

Sorry if this is a dumb question.

RichyF1
46
RichyF1 2016.05.22 15:02  
Answering my own question, I suspect this is currency. Guessing I need to alter my lot size dependent on currency rates!
Rizal Dwi Satria
331
Rizal Dwi Satria 2016.05.25 19:23  
RichyF1:

Hi there

Wondering if somebody can help me regarding a possible stupid question regarding lot sizing? I have come across from spreadbetting and found MT5 as a mature platform that I can use for both backtesting and auto (algo) trading. 

When back testing against Futures I use lots instead of £/$ per point but the relationship between £ and lot sizes seem different for each Symbol.

An example:

Short UK100 (FTSE100) 28 lots, open at 6172, close at 5882, 290 pips = £8123 profit. (290 pips x £28 = £8120)

Short US30 (DJ30) 10 lots, open at 17217, close at 16243, 974 pips but £6753 profit (974 pips x £10 = £9740!!).

A lot size of UK100 seems to be £1 but US30 seems to be £0.69. I cant seem to find anything in the contract specification about this?

Sorry if this is a dumb question.

you need check margin requirement on specification
Nguyen Nga
6535
Nguyen Nga 2016.05.26 05:49  
RichyF1:
Answering my own question, I suspect this is currency. Guessing I need to alter my lot size dependent on currency rates!

use it to get tick value for MT4

MarketInfo(Symbol(),MODE_TICKVALUE)
To add comments, please log in or register