Can someone please confirm which of the following is true in futures mode:
- PointValue is the $ amount for every 1$ move in the contract.
- PointValue is the $ amount of every 1 Tick move in the contract.
For example, for the ES-mini contract, the tick size is 0.25 and 1 tick up or down causes a PnL of +/- 12.5$. Whereas, a 1$ move in the contract would cause a PnL of +/- 50$. Would the PointValue for this contract then be 12.5$ or 50$?
exactly. ES has a PointValue of 50 and a TickSize of 0.25. If ES moves 1 point (4 ticks) then that is equal to 50$. And 1tick (=0.25$) corresponds 12.5$.
Got it, thanks. So to confirm, one would set the PointValue settings for the ES contract as 50?
yes, I usually put that inside the information window but you can also put it in the code
Round Lot Size: 1
you can also keep this kind of information (pointvalue, ticksize, margin...) for each symbol in an ascii file and import it (see Import ASCII how to create your own format). This process updates the information window. This way everytime you must roll your product()s you only have to update ticker(s) and import your file using the same format.