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.
Answering my own question, I suspect this is currency. Guessing I need to alter my lot size dependent on currency rates!
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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.