3.3.2.1Volume on order and trade requests

Volume

Description

number

Simple numeric value in cash/units (not lots), such as 10000

{notional: x}

Same as a simple number: value in cash/units (not lots), such as 10000

{lots: x}

Value in lots, such as 0.10, which the framework converts using the market's contractSize

{poundPerPoint: x}

Converted by the framework so that cash value of a movement by the market's pipSize is (a maximum of) the specified amount. Despite the property name ("pound"), deriving from UK spread-bet accounts, the value x is interpreted using whatever is the account's deposit currency. For example: trading EUR/USD on a GBP account, with pipSize of 0.00010. Each movement of the 0.0001 pipSize will gain or lose USD 10 (with contractSize of 100,000). If, on the GBP account, you set {poundPerPoint: 1}, then the framework will calculate the volume which, rounding down, leads to each 0.0001 movement gaining or losing £1. Calculated volume will be around 7000 (0.07 lots), depending on the current GBP-USD exchange rate.

{cashRisk: x}

Requires a stop-loss on the order/trade. The framework calculates the volume which, in combination with the specified stop-loss, leads to a maximum loss of no more than x.

{equityPercent: x}

Requires a stop-loss on the order/trade. The framework calculates the volume which, in combination with the specified stop-loss, leads to a maximum loss of no more than x% of current account equity.

{balancePercent: x}

Requires a stop-loss on the order/trade. The framework calculates the volume which, in combination with the specified stop-loss, leads to a maximum loss of no more than x% of current account balance.