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Forums>StrategyQuant>General Discussion>S/P 500 – how to find out the instrument properties at your MT4 broker?

  • #267205 |
    Customer
    107 Posts

    Hallo Traders

    Could you help me, how I could set up right these values? What should I look at my forex broker to? How should I calculate?

    Thank you very much for the helps.

    Brg, Csaba

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    #267211
    Customer
    790 Posts

    you need to look at your broker specification – webpage, or MT platform, if you are talking about CFDs

    but still you will be using Dukascopy data not the brokers data, and CFDs for indices could be very different, so your backtest could be not relevant

    You want to be a profitable algotrader? We started using StrateQuant software in early 2016. For now we have a very big knowhow for building EAs for every possible types of markets. We share this knowhow, apps, tools and also all final strategies with real traders. If you want to join us, fill in the FORM. 1500+ final SQX strategies for members running on demo accounts to verify the edge DEMO ACCS. We provide also strategies for indices - DAX, DOW JONES, NASDAQ, SP, UK, because we have realtick data from our brokers.

    #267215
    tomas262
    Administrator
    1823 Posts

    Hello,

    the settings for US500 traded at Dukascopy are

    point value = 1 USD (per 1 lot)
    pip size = 0.01 (point)
    pip step = 0.001 (they have 3 digits)

    See this https://www.dukascopy.com/swiss/english/cfd/range-of-markets/

    We have modified the setting for some CFDs since most brokers use different setting for those but if you intend to trade with Dukas you can use the above

    Otherwise you need to select setting that matches your broker and test carefully. Test results does not have to be usable due to different specs

    #267217
    Customer
    107 Posts

    Hello Tomas

    Thank you!

    point value = 1 USD (per 1 lot) — does it mean, what is the profit / loss if I have 1 lot position and the prices moves 1 round number? Let say from 3700.00 >>> 3701.00 ? Or at EURUSD let say from 1.31000 >>> 2.31000
    pip size = 0.01 (point) — if I have just a 2 digit broker it is then just 0.1 ?
    pip step = 0.001 (they have 3 digits) — if I have just a 2 digit broker it is then just 0.01 ?

    I attached my Admiral Markets screenshot too.

    Thanks for the help again!

    Brg, Csaba

    #267230
    Customer
    790 Posts

    dukascopy settings are 1 thing, but if you will be not trading dukascopy platform, its for nothing

    every CFD SP500 contract will be very different, point value could be 1, 10, 50 or 100 USD

    broker could have 1 or 2 decimals or even 3

    so if you will not be trading with dukascopy broker, you cant use those settings, because you will be getting nonsense

    and another issue with size 0.01 for dukascopy data, your SL ant TP must be very high, something like in 10000 as minimum, so its another flaw

    so if we look to Admiral Markets, we can see very clearly the basics – 2 decimal points, point value 1 USD, but minimum lotsize is 0.1, trading hours 1-24

    so the setting for SP on Admiral Markets should be point value 1, size 1, step 0.01 – by this setting 1 pip move will be from 3500 to 3501, and this is what makes sense, so your SL/TP ranges could be not in thousands

    but again, with dukascopy data, your backtest will be not accurate, because CFD data are not similar

    another problem is 2 decimals – because MQL code from SQX strats is not handling it right – so you will need to do this change and set manually this extern to TRUE

    extern bool UseSQTickSize = true;

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    You want to be a profitable algotrader? We started using StrateQuant software in early 2016. For now we have a very big knowhow for building EAs for every possible types of markets. We share this knowhow, apps, tools and also all final strategies with real traders. If you want to join us, fill in the FORM. 1500+ final SQX strategies for members running on demo accounts to verify the edge DEMO ACCS. We provide also strategies for indices - DAX, DOW JONES, NASDAQ, SP, UK, because we have realtick data from our brokers.

    #267231
    Customer
    790 Posts

    from picture you can see Admiral Markets with 2 decimal and the average daily range is 8557 ticks for 2 decimals, so with piptick size set as 0.01 you will need to set SL/TP accordingly – so what it will be – SL 4000, TP 20000?

    does this make sense?

    for me not, so i will set piptick to 1, so my SL and TP ranges ould be 40-200

    you get it?

    You want to be a profitable algotrader? We started using StrateQuant software in early 2016. For now we have a very big knowhow for building EAs for every possible types of markets. We share this knowhow, apps, tools and also all final strategies with real traders. If you want to join us, fill in the FORM. 1500+ final SQX strategies for members running on demo accounts to verify the edge DEMO ACCS. We provide also strategies for indices - DAX, DOW JONES, NASDAQ, SP, UK, because we have realtick data from our brokers.

    #267232
    Customer
    107 Posts

    I think I stay with the forex pairs, because otherwise it is just too much mathemathic and headache.
    SL and TP just based on FIXED PIP does not make for me too much sense, because then the system is not adopting itself to the market conditions.

    I hope that at XAUUSD I wont have such a problem with “mathematic”.

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