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INSTALLATION AND SETTINGS
Who decides how many lots to open?
How to properly set a lot size for Gold signal?
  HELP CATEGORY: AUTOMATED TRADING > INSTALLATION AND SETTINGS > How to properly set a lot size for Gold signal?

Gold Signal Lot Size and Autotrader Setup

The Gold signal settings for lot sizes may be different from one broker to another. Moreover, this signal may be traded as XAUUSD, GOLD, XAU / USD, etc. Please use the following page to properly set a lot size of your Gold signal and to find the specific options available for the Signalator Gold autotrader. When you trade currency pairs like EURUSD, USDJPY, etc. you normally use sizes like 0.1, 0.25, 1.5 referring to a standard lot size. On average 1 pip with 0.1 lot trading for pairs like EURUSD equals $1.

Commonly, brokers use the same lot sizing options for trading Gold. However, some brokers prefer to use number of OZs (troy ounces). In that case, you will normally find that a minimum contract size of Gold pair is 1. It means you have to use a different lot size calculation technique. Please use the following examples to find out how many lots to open when trading Gold. If this is the case, simply multiply a desired lot size by 100.

Example. You want to trade 0.25 lots Gold. And you broker has a minimum of 1 lot trading. It means, your broker uses the OZ calculation type. 0.25 * 100 => 25 lots. You shall open 25 lots in that case. Calculation is very simple:

a) Buy at 1228.23 and sell (close) at 1229.34.

b) (1229.34 - 1228.23)*10 =>11.1 pips profit

b) $1229.34 *25 - $1228.23 * 25 = 30733.5 - 30705.75 = > $27.75

If your broker uses a commonly used setting, then you multiply 11.1 by 0.25 *10 => $27.75.

If your broker uses the OZ lot style, then 11.1 * 25 / 10 = $27.75

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