Ninja Trader live accounts question

#1

I have a live account through Phillips set up and it is working fine. I have a separate live FXCM account set up and funded because Ninja Trader said I needed it. All I want to trade is indexes and currency pairs futures. I can trade indexes using my Phillips account with no problems. If I try to make a trade on a currency pair using the Phillips account it says that the instrument type is not supported with this connection.

Is it not possible to trade currency pairs using the Phillips connection. Is there something else that needs to be done to enable that maybe?

If I go ahead and use the FXCM connection I can trade a currency pair. Also, the quantity comes up to 1,000 by default when I make a trade. If I enter a trade with that quantity it yields 1 penny per tick. Does anyone know what is a reasonable quantity to put in there with a $2,000 account?

Any guidance on any of these questions/observations is greatly appreciated.

#2

When you try to trade currency futures are you trading off of a futures chart, like 6E instead of EURUSD?

As far as the 1,000 units for the fxcm trade, that would be a micro lot which I thought was generally .10 per pip. 10,000 units is a mini lot which generally trades around 1.00 per pip, depending on the pair. When considering the margin you put up for a mini lot, I think of it being roughly equal to one nadex spread (the 400-500 wide ones).

#3

I am trading off of charts like $AUDJPY, $GBPUSD etc. Should I be able to do that using the same connection (Phillips) I use for NQ, etc?

Thank you fro the info about the quantity…

#4

I don’t trade futures but I think you need 6E to trade the EURUSD futures contract.

#5

If you want to trade currency futures you have to use currency future symbols. Your entering spot forex symbols.

Here is a list for you: http://www.cmegroup.com/trading/products/#pageNumber=1&sortField=oi&sortAsc=false&group=3&page=1

by the way the symbol is globex symbol search that and add it to your instrument list.