Reading a symbol specification like you'd read a contract
Posted: Wed Oct 28, 2026 8:54 am
Most traders open the symbol specification window once, if ever. It's actually the contract that defines what you are trading. I read it now every time I start on a new symbol or broker.
Fields I go through line by line:
Five minutes of reading saved me from mistakes worth much more. Has anything in a spec window ever surprised you?
Fields I go through line by line:
- Contract size: units per lot.
- Tick size and tick value: the money value of the smallest price change.
- Stops level and freeze level: minimum distance for stops and pending orders, and the zone where you can't modify them.
- Margin and margin hedged: what one lot costs to hold, and whether hedged positions are discounted.
- Swap long, short, and triple-swap day.
- Trading sessions: when you can trade and when you can only close.
- Calculation mode: Forex, CFD, CFD leverage, etc. This changes how margin and profit are calculated.
Five minutes of reading saved me from mistakes worth much more. Has anything in a spec window ever surprised you?