Jashfx (cc: Podberry)
I took another look at SLM with FMT EA last night.
As far as I can see, Jashfx, what you say above is correct and it is very useful that you use the term ‘spread-betting lot’.
As far as I can see, though, MM will not work:
The long and short of your correct assessment is that a spread-betting lot is, essentially, a normally calculated mini-lot. Eg: 14% risk of 10,177 is 1424.78 divided by (old) SL40 is 35.6 mini-lots. This is the spread-betting lot.
The EAs MM will calculate this as 3.56 lots and SLM will accept it as 3.6 lots, as it is essentially 1dp. The whole figure is therefore too small by a factor of 10 when calculated by MM.
I think that, in the above example:
MM: should be false
Lots: should be 35.6
Maximum Lots: should be always greater than Lots
Compounding: Needs to be done manually.
Another question I have, as this is a BET on price movement and not a TRADE, is what happens if one wants to close out early? Is this not potentially like changing the horse on which one has placed a bet, after the race has started?