Should fixed lot size be adjusted if SP's broker has different contract sizes?
May 12, 2014 at 06:45
221 Views
7 Replies
May 12, 2014 at 06:45
This is what's happened to me. My SP did one XAUUSD trade and My fixed lot size is 0.1. But instead of 0.1 lot, it only did 0.01 lot through myfxbook. So my profit 10 times smaller than it should be. My understanding is Fixed lot shouldn't be changed for any reasons otherwise it shouldn't call FIXED LOT SIZE? Pls give your thoughts.
Member Since Feb 22, 2011
4862 posts
May 12, 2014 at 11:23
Is this about MFB AutoTrade?
Member Since Feb 22, 2011
4862 posts
May 12, 2014 at 11:47
tonnych posted:togr posted:
Is this about MFB AutoTrade?
Yes. You can set a fixed lot size for all the trade at MFB. And I have a demo account having the same setting. The XAUUSD TRADED 0.1 lot as it should be.
Luckily it was not the other way around
10x more loss:)
Member Since Jul 31, 2009
1444 posts
May 13, 2014 at 11:44
tonnych posted:
This is what's happened to me. My SP did one XAUUSD trade and My fixed lot size is 0.1. But instead of 0.1 lot, it only did 0.01 lot through myfxbook. So my profit 10 times smaller than it should be. My understanding is Fixed lot shouldn't be changed for any reasons otherwise it shouldn't call FIXED LOT SIZE? Pls give your thoughts.
The reason for the difference is different contract sizes between your account and the provider's. For example the provider's
XAUUSD contract size is 10oz while in your account it is 100oz hence the x10 difference. This is by design, in case you're basing your lot size on the provider's trades.
Do you wish it to be fixed in any case, even if different contract sizes?
*Commercial use and spam will not be tolerated, and may result in account termination.
Tip: Posting an image/youtube url will automatically embed it in your post!
Tip: Type the @ sign to auto complete a username participating in this discussion.
