Wednesday, July 28, 2010

Yet Another Forex Set and Forget Story

A friend of mine is running Forex Set and Forget on a demo account and asked me a question that stumped me for a bit until I finally figured out what's happening...
"For some reason when I tell FSaF to trade 0.01 lots, it's actually trading 0.1 lots. How do I tell it to do otherwise?"
Well, we went back and forth with me telling him how to fix it and him telling me "it didn't work". Then finally I realized what was happening...

Forex Set and Forget deals only with standard lot sizes. So when you tell it to trade 1 lot, for example, you are really telling it that you want a trade size of 100 thousand dollars. Some mini accounts use a lot size of 10 thousand dollars. Forex Set and Forget knows what your broker's lot size is and automatically adjusts your trade size so that when you say 0.01 standard lots, it places a 1 thousand dollar trade no matter what your broker's lot size is.

How brilliant is that?

I don't know what you're waiting for. Just go buy the thing and see for yourself the genius that is Forex Set and Forget. :-)

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