NGAS price unstable in break time or closed? FXCM

Well it's obvious now but it's still not to newbies in mirror trader because there is no warning when you place the trade that it's a normal lot (1.00), not a micro lot (0.01).

Maybe you've never noticed this because the PIP PRICE is clear in TradeStation when you place a trade.
The pip price really must be visible in MirrorTrader.

For anyone else reading this thread why not have a look? There's a demo available at FXCM MT4:
and MirrorTrader at:
https://platform.tradency.com/B138/FXCM/

MirrorTrader and micro accounts are aimed at beginners. It's not a valid excuse to say that it's obvious that it's a CFD and CFD contracts are bigger - how are we to know micro CFD lot sizes don't exist as beginners? It's similar to offering 200:1 or 1000:1 leverage while the professionals stick to <10:1.

Bill Tradency for not labelling as clear as it is in MirrorTrader as it is in the CFD product guide.

The kilometer scale is marked on my car with a K, why can't we have it clear if there is no thousand to speak of - even seeing "1.00" with no k might have been enough for me to realise.

I don't have any trade history now to investigate how it went to £60 so quick. I'm supposed to be training but I can't do that with these lot sizes. The pip price now is £0.62 but I don't know if it was that at the same time and I'm sure I wouldn't have placed 10 lots because at that stage and now still I'm keeping lot sizes as small as possible to learn.
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I always envisioned losing some cash while learning but that was such as galling way of doing it.

Quote from Jason Rogers:

Hi Jago,

There seems to be some confusion here. The mininum trade size for natural gas (NGAS) with FXCM is 1k mmBtu (or 1,000 million British thermal units). Technically, that's 1 billion British thermal units, but people don't say it that way. It's similar to how people say 1,000 kilometers instead of 1 million meters, because kilometers are the commonly used unit of measurement.

That's trade size equates to $1 per point in the price. That means a 10-point spread would equate to $10 or approximately £6. If you found that you were immediately down £60, then mostly likely you placed a trade for 10 lots or 10k mmBtu instead of 1 lot.

More information is available in our CFD Product Guide.

Jason
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Quote from jago25_98:

Well it's obvious now but it's still not to newbies in mirror trader because there is no warning when you place the trade that it's a normal lot (1.00), not a micro lot (0.01).

Maybe you've never noticed this because the PIP PRICE is clear in TradeStation when you place a trade.
The pip price really must be visible in MirrorTrader.
More...

Thanks for this feedback, Jago

I'll pass it onto the developers of the Mirror Trader platform. Perhaps they can add something to their display similar to the Pip Cost column on FXCM's Trading Station. That way, new traders like yourself can easily see the amount they are risking per point on a 1 lot CFD trade.

Jason
 
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