August 2020 Newsletter – NeuroShell Trader Lets You Send Trades in Either Units or Lots

Forex trading is increasing in popularity because traders can enter the market with smaller
account sizes compared to stock and futures trading. Users are asking questions about how
to set up NeuroShell Trader to work with mini and micro currency lots. We have created
two example charts so you can learn how to set up your model to trade in either units (with
brokers such as Interactive Brokers or FXCM) or lots.

How to Set Up Trading in Units
Our example charts begin with a prediction. We then added the prediction rules to a
Trading Strategy so trading signals could be automatically sent to brokers such as
Interactive Brokers or FXCM. (Look at Example Chart 24 to learn how to add predictions to a Trading Strategy.)

In the Trading Strategy Parameters screen, we set the following on the Sizing tab:








⋅ Trade 100% of the account

⋅ Buy units in round lots of 10,000
units if mini lots is the minimum
increment of units your broker
accepts for Forex orders.

Trading Strategy Parameters Summary

⋅ On the Cost tab, commissions
are set at $4 in and out and 3
pips round trip.

⋅ Margin is set at 2%.

If the minimum increment of units your brokerage accepts is Standard Lot size, you simply
change “Buy units in round lots ….”to 100,000. For micro lots, set the value to 1,000.

How to Set Up Trading in Lots
If your broker requires that you send your trades in lots, you have to adjust both the Sizing
and Cost tabs in the Trading Strategy Parameters portion of the wizard.

⋅ The initial account balance of $10,000 and
the selected Position Sizing method of
trading 100% of the account balance are
the same settings we used for trading units.

⋅ The Costs tab also mirrors the $4 Entry and
Exit commissions, 3 pips, and 2 percent
margin settings from the previous model.

⋅ The significant difference is the Point
Value, which is set at 10,000 to represent a
Mini lot of 10,000 units.

If you prefer to trade a Standard Lot, you simply change the point value to 100,000 . If you
want to trade micro lots, you set the point value to 1,000.

Point Value for Forex Models
While the summary screen places a “$”
by the point value, when you create a
Forex model the point value refers to the
number of units of currency.

Example Charts
Click here to download both the units and lots example charts.

For additional information on trading Forex with NeuroShell Trader:
Setting Up NeuroShell Trader for Forex Trading (July 2015 Newsletter)
Entering Forex Cost Factors

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