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The meaning of LotAmount in the Manual #481544
09/28/20 08:37
09/28/20 08:37
Joined: Sep 2020
Posts: 22
Z
zzy Offline OP
Newbie
zzy  Offline OP
Newbie
Z

Joined: Sep 2020
Posts: 22
I read in the online manual that "LotAmount" is the "Number of contracts for 1 lot of the asset". I also read that "In the description, a contract is always 10,000 units for forex pairs" on the same page. So for a micro lot account of forex for example, the LotAmount should be 0.1, not 1000, right? Or I have mistakenly understanding somewhere?

==========================
Multiplier /
LotAmount Number of contracts for 1 lot of the asset; accessible with the LotAmount variable. Smallest amount that you can buy or sell with your broker without getting the order rejected or an "odd lot size" warning. For forex the LotAmount is normally 1000 on a micro lot account, 10000 on a mini lot account, and 100000 on standard lot accounts. Index CFDs or crypto currencies can have a LotAmount less than one unit, such as 0.1 NASDAQ contracts, or 0.0001 Bitcoins. For stocks and most other assets it's normally 1 unit per lot.
A negative value in this field is interpreted as a multiplier for options contracts, and accessible with the Multiplier variable. The LotAmount is then 1. For futures the LotAmount is normally identical to the options multiplier.
==========================

Re: The meaning of LotAmount in the Manual [Re: zzy] #481546
09/28/20 10:40
09/28/20 10:40
Joined: Jul 2000
Posts: 27,369
Frankfurt
jcl Offline

Chief Engineer
jcl  Offline

Chief Engineer

Joined: Jul 2000
Posts: 27,369
Frankfurt
It's 1000. But the word 'contract' is indeed ambiguous. We'll replace it with 'unit'.

Re: The meaning of LotAmount in the Manual [Re: jcl] #481550
09/28/20 13:16
09/28/20 13:16
Joined: Sep 2020
Posts: 22
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zzy Offline OP
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zzy  Offline OP
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Z

Joined: Sep 2020
Posts: 22
Thanks jcl!


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