LOT

The LOT keyword in ProBuilder language is used to specify the quantity of lots to be traded in a buy or sell order. In trading terms, a lot represents a standardized number of units of the traded asset. In ProBuilder, the LOT keyword functions similarly to specifying the number of shares in stock trading.

Syntax:

LOT

Example:

IF NOT ONMARKET AND validsetup THEN
    BUY 1 LOT AT MARKET NextBarOpen
ENDIF

This example demonstrates the use of the LOT keyword in a conditional trading strategy. The script checks if the trading instrument is not currently in the market and if a valid setup condition (defined elsewhere in the script) is true. If both conditions are met, it places an order to buy one lot of the instrument at the market price at the opening of the next bar.

• The LOT keyword is crucial for defining the trade size in terms of lots rather than individual units.
• It is typically used in conjunction with buy or sell commands to execute trades.
• LOT can be replaced at any time by SHARE, CONTRACT, CONTRACTS, PERPOINT or LOTS on any type of instrument. In the case of Forex, the specified quantity will be multiplied by the size of a lot.
• If the quantity is not specified, the default values are:
  • 1 unit for entering a position (e.g., BUY AT MARKET places an order for “1” at the market).
  • The total quantity of the position for exiting (e.g., SELL AT MARKET closes the entire position).

This keyword simplifies the process of specifying order size, making it easier for traders to manage their positions according to predefined trading strategies.