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Should fixed lot size be adjusted if SP's broker has different contract sizes?
May 12, 2014 at 06:45
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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.
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:)
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?
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