Quick question about standard lot sizes

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JJLL
Posts: 66
Joined: Sat Jun 06, 2009 8:50 pm

Quick question about standard lot sizes

#1 Postby JJLL » Fri Sep 13, 2019 12:03 pm

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?
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standard_lot.jpg
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FX Helper
Posts: 1183
Joined: Mon Apr 01, 2013 3:55 am

Re: Quick question about standard lot sizes

#2 Postby FX Helper » Mon Sep 16, 2019 5:33 am

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.

JJLL
Posts: 66
Joined: Sat Jun 06, 2009 8:50 pm

Re: Quick question about standard lot sizes

#3 Postby JJLL » Tue Oct 01, 2019 1:25 pm

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.
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value1.png
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FX Helper
Posts: 1183
Joined: Mon Apr 01, 2013 3:55 am

Re: Quick question about standard lot sizes

#4 Postby FX Helper » Tue Oct 08, 2019 4:50 am

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.


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