Registered: Mar 2012
03-15-12 08:52 AM
I am trying to use the Forex presets to set my trade quantities but I am having problems and I am not sure if I am doing something wrong or if it is a problem with this version of IB TWS. I trade stocks and futures but recently started trading Forex in addition. I use a preset of $150K for AUDUSD, EURUSD, etc. However the presets don't work correctly when USD is the base such as USDJPY. No matter what I change the preset to, it always generates an order of 150K in the quoted currency e.g. 150K JPY. I have talked to IB techs and they tell me to upgrade TWS (their solution to everything) The fact is that I use Ninjatrader and due to IB's updrade of the TWS API, Ninjatrader is compatible with one version of TWS so upgrading is not possible until NT upgrades.
When I generate an order for USDJPY, the preset generates a quantity of 1,782. When I check the required margin for this quanity, it tells me that it is 149,000 JPY which is less than the required 25K USD min. order. The fact is I want to trade sizes equivalent to 150K USD. Can someone verify if I need to do something else in the presets. I do not use the Forex Trader as I don't like it. I have created my own order window where I trade Stocks, Futures & Forex from the same window. I have no problems with AUDUSD or EURUSD but cannot get presets to work correctly with USDJPY, USDCHF. Any help would be appreciated.