I would like to setup FT to trade a lot size of 1.0 as a standard lot size. The only way I can do this now is if I enter a lot size of 10.
For example. A standard lot size of the EUR/USD = 10 USD per pip. In the attached screen shot, you will see trade number 3544. The trade has a lot size of 1.0
The trade reached its take profit of 755. The profit was 755.00
A standard lot size would have been 7,550.00
Am I missing something or setting up FT incorrectly? Is there a setting to change from a micro account to a standard?
Quick question about standard lot sizes
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Quick question about standard lot sizes
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Re: Quick question about standard lot sizes
Hello,
Sorry, are you sure that this order should give 7550 USD of profit?
Here is the screenshot from the online calculator:
https://imgur.com/a/79GaOC1
You can visit it by following this link:
https://www.fxpro.com/trading-tools/calculators/profit
As you can see, 755 USD is the correct profit value.
If you want to have 10 times bigger profits then please set Lot size=1 million instead of 100000 in the properties of the EURUSD symbol in the Data Center window.
Then create a new project and start a new test.
Sorry, are you sure that this order should give 7550 USD of profit?
Here is the screenshot from the online calculator:
https://imgur.com/a/79GaOC1
You can visit it by following this link:
https://www.fxpro.com/trading-tools/calculators/profit
As you can see, 755 USD is the correct profit value.
If you want to have 10 times bigger profits then please set Lot size=1 million instead of 100000 in the properties of the EURUSD symbol in the Data Center window.
Then create a new project and start a new test.
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- Posts: 78
- Joined: Sat Jun 06, 2009 8:50 pm
Re: Quick question about standard lot sizes
A micro lot represent a unit size of 1,000
A mini lot represent a unit size of 10,000
A standard lot represents a unit size of 100,000
If my trade size (volume) is 1.0 and as seen in the screen shot from my last post. A unit size of 100,000 with a margin of 100:1 (also shown in the screen shot). This means that if is a one pip gain is made. A profit of $10 should be shown within FT.
You supplied links to pip calculators but I too have a supported link from FXCM. Please see the attached screen shot taken from https://www.fxcm.com/uk/insights/pip-calculator/
Again, I may be missing something but when my unit size (Lot Size in FT Symbol Properties) is equal to 100,000. Then my pip value should be $10 per pip.
A mini lot represent a unit size of 10,000
A standard lot represents a unit size of 100,000
If my trade size (volume) is 1.0 and as seen in the screen shot from my last post. A unit size of 100,000 with a margin of 100:1 (also shown in the screen shot). This means that if is a one pip gain is made. A profit of $10 should be shown within FT.
You supplied links to pip calculators but I too have a supported link from FXCM. Please see the attached screen shot taken from https://www.fxcm.com/uk/insights/pip-calculator/
Again, I may be missing something but when my unit size (Lot Size in FT Symbol Properties) is equal to 100,000. Then my pip value should be $10 per pip.
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Re: Quick question about standard lot sizes
Hello,
Please note that for 5-digit historical data 1 pip=0.0001 and 1 point=0.00001.
In this case 1 pip=10 points.
Therefore, 1 pip of profit will give 10 USD of profit and 1 point will give 1 USD of profit only.
As you can see on your first screenshot, your last order has 50 points (5 pips) of loss and the account lost 50 USD.
Please note that for 5-digit historical data 1 pip=0.0001 and 1 point=0.00001.
In this case 1 pip=10 points.
Therefore, 1 pip of profit will give 10 USD of profit and 1 point will give 1 USD of profit only.
As you can see on your first screenshot, your last order has 50 points (5 pips) of loss and the account lost 50 USD.
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