Setting Position Sizes: Contracts and Lots Explained
The Position size input determines the trade volume for each order, expressed in contracts or lots. Unlike TradingView's "Order size" parameter, which is managed in the Properties tab, this setting is directly tied to TradeShields' execution logic and is the value that is included in your alerts.
How to configure:
- Go to General Settings and find the Position size field.
- Enter the desired number of contracts or lots (e.g., 1, 3, 10).
Example:
- For futures trading: Set Position size to 2 if you want to trade two contracts per signal.
- For forex trading: A position size of 3 might correspond to three mini-lots (0.3 standard lots).
Tips:
- Start with a small position size when testing your strategy.
- Use consistent position sizes across backtests to maintain accuracy.
- Combine this with risk management settings to further control trade exposure.