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Date/Time: Thu, 28 Mar 2024 19:07:53 +0000



BitMex Position Size Question

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[2018-01-23 23:39:43]
User804659 - Posts: 2
Hi, how does SC determine position size when trading XBTUSD through BitMex? When trading directly on Bitmex I specify the order quantity in USD which then shows an "Order Value" in XBT terms. In SC, if I have "1" selected, does is effectively buy/sell 1 XBT at the order price? (eg. if XBTUSD is trading $11,500, and I enter a buy limit order for 1 at $11,000, that creates an order with a notional size of $11,000 USD)
[2018-01-24 03:50:10]
Sierra Chart Engineering - Posts: 104368
We do not know the answer to this question, other than the fact that a quantity of 1 is transmitted to BitMEX as a quantity of 1.
Sierra Chart Support - Engineering Level

Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy:
https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation

For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service:
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[2018-01-26 16:17:43]
User804659 - Posts: 2
Thanks, I inquired to BM and their reply is:

As on BitMEX, a quantity of 1 relates to $1 not 1XBT.

Therefore if the price is $11,000 USD, you would need to place an order for 11,000 quantity on SC to trade 1XBT.


Seems like something isn't lining up, experimenting with SC to place orders in sim mode connected to a live bitmex account, results in PnL that is equivalent to trading 1XBT when an order quantity of 1 is selected in SC.

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