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Note for new players...not all lot sizes are the same ;(

Posted: Wed Nov 27, 2019 5:49 am
by andrew1
Put swap trade on Silver...looked good.
Went to bed. woke up to imbalance...what the? Same # lots. Correct symbol. Mother F&/@&er!
1lot/1000usd on one 1lot/5000usd on the other.

There went $2k

Still @$18/day I just need to keep transaction alive for ummmm...55 days

Re: Note for new players...not all lot sizes are the same ;(

Posted: Wed Nov 27, 2019 7:12 am
by Alexander
andrew1 wrote:
Wed Nov 27, 2019 5:49 am
Put swap trade on Silver...looked good.
Went to bed. woke up to imbalance...what the? Same # lots. Correct symbol. Mother F&/@&er!
1lot/1000usd on one 1lot/5000usd on the other.

There went $2k

Still @$18/day I just need to keep transaction alive for ummmm...55 days
We got caught with this one as well. We collected the data, double checked them by looking to the specifications but we did not compare the contract size. Contract sizes are almost always identical (except when the account types are different. Standard, Mini, Micro), but sometimes they are not. :|

Alexander

Re: Note for new players...not all lot sizes are the same ;(

Posted: Thu Nov 28, 2019 5:57 pm
by wes2706
Given that some of you got caught out on this one, can someone please explain how to avoid this, for the sake of your fellow traders?

Regards,
Wesley

Re: Note for new players...not all lot sizes are the same ;(

Posted: Thu Nov 28, 2019 10:28 pm
by andrew1
Here you go....1 lot is not a universal unit :)

Image


Also, it's saying market closed...but it's not closed (it's friday am) . I can open pending orders.
I have restarted, removed ea etc...same same. no messages in terminal. How do I debug that?.

Re: Note for new players...not all lot sizes are the same ;(

Posted: Fri Nov 29, 2019 6:52 pm
by Alexander
Hello Andrew.
The message "Market closed" is displayed when you cannot enter a trade.

1) During the weekend or holidays.
2) Outside market hours.
3) If the EA is attached to a symbol where trading is disabled. (it is possible that the market is open but trading is disabled from the broker side)
4) Outside broker specified trading hours. (Screenshot)

trading_disabled.png
Trading Hours
trading_disabled.png (8.64 KiB) Viewed 2461 times

I hope this helps.
Alexander

Re: Note for new players...not all lot sizes are the same ;(

Posted: Sat Nov 30, 2019 1:06 am
by andrew1
Thanks Alexander.

It was 4.
Bloody hell. I had no idea they restricted hours on Silver - I never trade metals - just currency. ok. There you go. I am learning so much from this swap play! Cool.

4) Outside broker specified trading hours. (Screenshot)


Thanks mate.

Re: Note for new players...not all lot sizes are the same ;(

Posted: Tue Dec 03, 2019 11:16 am
by wes2706
Do all forex brokers calculate swap at the same time (5pm EST)?