"Set order quantity = by account size" doesn't work

[James Beale]

"Set order quantity = by account size" doesn't work - at least with FXCM broker, it appears. After much to-ing and fro-ing they finally cottoned on.

On a 5k account, with "Set order quantity = by account size", NinjaTrader generated "Quantity=333", and their server said "FXCM, Order Quantity must be a multiple of 1000".

This was on USDHKD, which has a margin value of 15.

Therefore technically it was correct. 5k / 15 = 333.333.

However, it would not have mattered if the account had been 50k. It would still have been rejected as not being a multiple of 1000.

Therefore "Set order quantity = by account size" seems unworkable in its present format.

[NinjaTrader_PatrickH]

Hello James Beale,

Thank you for your post.

You would instead want to either use By Account or By Default Quantity. For information on running strategies with FX data please visit the following link: http://www.ninjatrader.com/support/h...strategies.htm

Please let me know if you have any questions.

[James Beale]

Yes. I understand that. But of what use, therefore is "Set order quantity = by account size"?

[NinjaTrader_PatrickH]

Hello James Beale,

Thank you for your response.

You would need to ensure the value you set for the Account Size can be divided by the Margin value properly for the Forex quantity. Whether that means you adjust the Account Size or Margin value, that is up to you.

[James Beale]

Thanks for your reply. However, I don't follow your answer. The broker says that although there is a margin value, all lots have to be in multiples of 1000. I don't see, therefore, of what use "Set order quantity = by account size" can possibly be. Please explain.

[NinjaTrader_PatrickH]

Hello James Beale,

Thank you for your response.

So 5000, would be divided by 5 (Margin Value) to be 1000. There is no other way to do this for the Account Size for Set Order Quantity.

[James Beale]

Many thanks for your answer, Patrick. However, I fear you may be missing my point. I understand completely regarding the division of an account value by margin to provide lot size.

However:

• not all margins are round numbers
• account sizes differ over time

Therefore, why not simply specify unique order quantities for each instrument, changing this over time as the account varies?

To be clear; I am not commenting or asking regarding the mechanics of using "Set order quantity = by account size". This is clear.

What I am asking is this; what possible useful purpose can this option serve? Under what circumstances? Given that the broker has specific requirements, I can see none which could not be addressed by utilising unique order quantities.

Hence my earlier query: of what use is "Set order quantity = by account size"?

Thanks again.

[NinjaTrader_Bertrand]

Hi James, thanks for taking the time to explain your thoughts here, in the case where brokers have fixed size step requirement for FX and not just an individual amount of units I can see where it's working not optimal and could be reviewed for improvement in product management. I will make sure to channel this into our lists for making considerations going forward.

[James Beale]

Hi Bertrand

Yes. Basically the "Set order quantity = by account size" needs to somehow take into consideration what the broker's delimiters are. So, if say on a 5k account with an instrument margin of 1.75 = 2857.1429 lots. But the broker specifies 1000 multiples, so NinjaTrader has to round down to 2000 in this case.