Back

What does quantity parameter mean in any Order type for Forex?

Does it represent 1 cent, dollar, pips, lots, micro-lots, etc.? Please help.

Update Backtest








I am having this same issue! I'm so glad you asked this question Jon.

 

1

Number of units, I may be wrong but I believe 10,000 units is one micro lot

1

I think you have to manually convert between units and lots yes.

Note that it isn't necessary with e.g. Oanda which lets you trade without restriction of number of units.

0

1 quantity is 1 of the base currency; so 1000 buy order EURUSD is 1000 euro's which would cost $1.06 USD each. 

As Petter Hansson mentions FXCM requires lots rounded to nearest 1000 quantity, OANDA doesn't. If you don't round the order we do it automatically for you.

0

The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Update Backtest





0

The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Loading...

This discussion is closed