Under Signal Properties, there is a section called "Trade Size (if not specified by signal)" (please refer to attached screenshot if you're not sure what I'm referring to), and the following 2 options that we can select:
a) Fixed Shares/Contracts
b) Cash per Trade
I have 2 questions:
1. if I'm trading Spot Cash Forex EUR.USD (IDEALPRO) using Interactive Brokers, and I wish to trade $25000 (USD), which option should I select? option a) or option b)? My hunch is that I should go for b). And what is the difference between using "25000" for a) vs b)? I just tried on IB's paper trading account and it seems that option a) works fine (using "20000").
2. For option b), what is the currency that is used? Is it the Currency that is specified in Quote Manager > Edit Symbol (EUR.USD) > Settings tab > Settings Details section? (For EUR.USD, the Currency is "USD")
Trade Size settings in Signal Properties for IB spot FX?
Trade Size settings in Signal Properties for IB spot FX?
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Re: Trade Size settings in Signal Properties for IB spot FX?
Hello kengonn,
In your case the options will work the following way:
a) 25000 Fixed Shares/Contracts = 25000 * EUR.USD price;
b) 25000 Cash per Trade = 25000 of the selected Base Currency. If it is USD like on your screenshot then it will be $25000.
In your case the options will work the following way:
a) 25000 Fixed Shares/Contracts = 25000 * EUR.USD price;
b) 25000 Cash per Trade = 25000 of the selected Base Currency. If it is USD like on your screenshot then it will be $25000.