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Direct MessagesDate/Time: Sat, 20 Apr 2024 09:52:43 +0000
Iconsistent behaviour with Reward Risk, Measure tool and chart trade currency values
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| [2018-11-26 11:15:15] |
| User343901 - Posts: 66 |
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I have come across inconsitent behaviour with regards to the Reward Risk tool, Measure tool and chart trade currency displayed values. The settings below describe my setup which to the best of my knowledge are correct for Lmax exchange LMAX exchange JPYUSD currency value per tick = 1Yen (adjusted from Lmax documented setting of 10Yen) tick size = 0.001 (Lmax documented setting) position size = 100 (Lmax 10 contracts) stop at -100ticks Profit Loss Format = Currency Value (C) & ticks - ignore quantity 1) Common Profit Loss Currency = NONE Chart trade position stop shows currency = -10000.00C OK Reward Risk tool shows currency = 10000.00 OK Measure Tool shows currency (CV) = -10 EXPECTED -10000 2) Common Profit Loss Currency = USD Chart trade position stop shows currency = -88.31C OK Reward Risk tool shows currency = 10000.00 EXPECTED 88.31 Measure Tool shows currency (CV) = -0.883USD EXPECTED -88.31USD Appears Reward Risk tool picks up the position size but doesn't do a currency conversion as per Common Profit Loss Currency setting Appears Measure Tool doesn't pick up the position sizing but does do a currency conversion as per Common Profit Loss Currency setting I would expect these to all show the same values and therefor Reward Risk and Measure tools should both adjust for position size and do a currency conversion. If I'm correct can these tools please be fixed so that they are consistent with the chart trade position size display? It is currently very confusing as is. Many thanks |
| [2018-11-26 21:02:46] |
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The Reward/Risk tool does take into account the current Trade Quantity value. We assume by Measure tool that you are referring to the Chart Calculator - which does NOT take into account the current Trade Quantity. You will find the information for how the Currency Value for each of these tools is calculated at the following links: Chart Drawing Tools: Chart Calculator Configuration Chart Drawing Tools: Reward/Risk Configuration We cannot verify the numbers you have given, as we would need the Entry and Stop prices. We have tested both tools again to make sure there are no problems and they are working correctly. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-11-26 23:05:32] |
| User343901 - Posts: 66 |
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Thanks for your reply. Regardless of the numbers I have given my problem is that Sierra Chart does not seem to have a tool that will show the value of a chart measurement in my account currency while taking quantity into account ie actual risk/reward. This is a really big ommission. 1) From your documentation I can see that Reward/Risk tool shows the values in the quote currency of the pair only. If trading USDJPY for example the values are displayed as Yen. If trading EURCAD the values are displayed in Canadian dollars. This means I have no option but to manually convert with a calculator or in my head to my account currency which happens to be GBP. This is really frustrating and unhelpful and at the least there should be an an option in the tool settings to display the values in the Common Profit Loss Currency. 2) The Chart Calculator tool appears to be a different issue where it assumes a contract size of 1 and also does a currency conversion (I can't see the conversion mentioned in your documentation). From your link: Currency Value = Absolute Value(((Price at First Entered Point - Price at Second Entered Point) / Tick Size) * Currency Value per Tick)
This is technically incorrect because Currency value per Tick is meaningless without a quantity. So your calculation should read as follows: Currency Value = Absolute Value(((Price at First Entered Point - Price at Second Entered Point) / Tick Size) * Currency Value per Tick * 1contract) Because I use Lmax (1 Sierra contract = 0.1 Lmax contracts) and you're assuming a contract quantity of 1 the calculation is incorrect. If you included quantity in the same way as the Risk Reward tool does then the tool would be useful. As with the Reward Risk tool there at least needs to be an option to include quantity in the calculation. I hope you will be able to have a serious look at these two issues as from my view the current implementation is inadequate. There needs to be a way to quickly assess actual value of a price movement in the Common Profit Loss Currency and neither of these tools does that. Date Time Of Last Edit: 2018-11-26 23:08:04
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| [2018-11-27 19:10:34] |
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We will look this over in more detail and see what needs to be done.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2018-11-27 19:17:42] |
| User343901 - Posts: 66 |
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Brilliant thank you!
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| [2020-03-26 09:28:06] |
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1) From your documentation I can see that Reward/Risk tool shows the values in the quote currency of the pair only. If trading USDJPY for example the values are displayed as Yen. If trading EURCAD the values are displayed in Canadian dollars. This means I have no option but to manually convert with a calculator or in my head to my account currency which happens to be GBP. This is really frustrating and unhelpful and at the least there should be an an option in the tool settings to display the values in the Common Profit Loss Currency. There is not an option for this, but this does already happen. There is a conversion to the common currency: Global Trade Settings Windows: Common Profit/Loss Currency (Global Settings >> General Trade Settings >> General) 2) The Chart Calculator tool appears to be a different issue where it assumes a contract size of 1 In the next release the Chart Calculator tool will now use the Chart Trade Quantity if the chart is in chart trade mode.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-03-26 09:36:45
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| [2020-05-01 22:45:39] |
| User513662 - Posts: 90 |
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Hello. I am using this study which does an auto FX position size and then translates this into the order quantity. It is rock solid and I use this with LMAX processing many trades per day. Takes into account the spread and commission in the position size as well. Works with practically any major base currency account. I don't know of any other tool out there that does this with SC. Can work with other brokers as well. https://forgivingcomputers.com/product/forex-advanced-position-size-calculator/ Took the developer quite some time to perfect this. He did not do this project for me but he has done other projects for me and his quality of work is excellent, as is this study. Worth every penny and I can thoroughly recommend it for anyone needing position sizing for FX with Sierra Chart. |
| [2020-05-02 02:41:58] |
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Thank you for this.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
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