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Direct MessagesDate/Time: Fri, 19 Apr 2024 06:23:39 +0000
Daily Net Loss Management apparent issue?
View Count: 519
| [2021-05-06 19:33:38] |
| User98657 - Posts: 304 |
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I was trying to implement use of the Daily Net Loss management feature. I had a rough morning and was thinking I might be at my DLL. I went to check and saw I was not yet at my DLL. I then checked the settings on Daily Net Loss Management and selected Flatten Position When Loss Rules Met, hit save, and then noticed I was in fact locked out. My Loss Trigger Value was set at -225. Only trading one account, and one symbol. When I checked the Trade Activity Log > Statistics I saw I was actually down 205.56. This amount (-206) agreed with my external Excel calculations. I searched all the help files and could not understand why the feature was locking me out early. I could understand locking me out a little late, but not early. And, it was strange that the platform contradicted itself in that in one place it showed me down 206, and in the other locked me out for being down more than 225, the Loss Trigger Amount. I then checked the Trade Service Log and I think that's where I found the issue. The Trade Service Log says: "Daily Net Los Management: Daily Net P/L = -1710. Loss Value of -255 has been met. Flattening Positions new for the Trade account......, Charts|RTYM21FUT_CME[M]........" I am trading on a chart that is set to the Symbol RTYM21_FUT_CME, but I am utilizing the Trade and Current Quote Symbol M2KM21_FUT_CME and have the Use As Trade Only Symbol box checked. My actual losses for the day are in Micros, not Minis. -1,710 would be the correct amount for Minis, less commissions (which tells me the Loss Management feature does not include commissions?). The Daily Net Loss Management seems to be calculating off of the Chart symbol as opposed to the symbol against which the trades were placed. |
| [2021-05-06 19:57:32] |
| John - SC Support - Posts: 30953 |
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The system is going to be performing the calculations based on the setting for Chart >> Chart Settings >> Advanced Settings 2 >> Currency Value per Tick. Refer to the setting information here: Chart Settings: Currency Value Per Tick (Chart >> Chart Settings >> Symbol >> Symbol Settings menu) Also refer to the following: Chart Settings: Updating Currency Value per Tick for Trade Symbol For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-05-06 20:22:23] |
| User98657 - Posts: 304 |
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Thanks John, I did not know that. But I've just checked that setting on the chart off which I was trading today and it is set at 0.5, which would be accurate for Micros (M2K). Interestingly, the other chart I monitor, and was previously trading off of is set at 5.00, which of course would be accurate for the RTY. Let me explain further: To make my new trigger chart I duplicated my existing 6tick Renko, M2K chart. I changed this new chart to show me the RTY and set up the M2K in the Trade and Current Quote Symbol. I did this at the same time and perhaps that's why it remained set at 0.50 per tick, I'm not sure. In any event, the chart I was trading off of today is set to a Micro setting, albeit accidentally. The chart I duplicated on the other hand was changed from M2k to RTY, and saved. I then went back in and put in and inserted the M2K into the Trade and Current Quote Symbol window, and selected the Use As Trade Only Symbol checkbox. I'm guessing when I changed it to RTY it changed the tick value from the previous 0.5 to the current 5.0. You may not need any of that. But is it possible that it is pulling that higher level off of the other chart? That wouldn't seem to make sense, but I guess I could have inadvertently caused a conflict. Date Time Of Last Edit: 2021-05-06 20:23:02
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| [2021-05-06 20:29:53] |
| John - SC Support - Posts: 30953 |
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No, it would not have pulled "that higher level off of the other chart". Each chart stands alone in terms of that data. We really can not say what occurred, you would have to dig a bit deeper to see what trades were done on which charts that were also taken into account on the Global Trade Management system. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-05-06 21:03:52] |
| User98657 - Posts: 304 |
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I only traded on one chart today. When I saw your initial response I checked that parameter and saw it was set at .50. It was not something I would have changed. I'm happy to dig deeper, I just don't where else I can check. The loss management is obviously pulling that higher level from somewhere. |
| [2021-05-06 22:29:00] |
| John - SC Support - Posts: 30953 |
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You need to look at the Trade Activity Log and see what is going on through that. It should give you all the information that feeds the Global Profit/Loss Management.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2021-05-06 23:18:16] |
| User98657 - Posts: 304 |
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That makes sense, and that's what I would have expected. But as I mentioned, the Trade Activity Log shows the correct information. The TAL shows I lost $206 today, while the wile the P/L Management thinks I lost 1,710. I spent the first hour combing thru that assuming the P/L Management was getting its information from the TAL, or if not direction from the TAL, from the same source as the TAL. When I saw the data in the TAL was correct it didn't make any sense to me. |
 TradeStatistics.txt - Attached On 2021-05-06 23:16:49 UTC - Size: 3.79 KB - 210 views |
| [2021-05-07 02:20:22] |
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while the wile the P/L Management thinks I lost 1,710. You need to understand how this functionality works and where the Global Profit/Loss Management gets the values from. Read this section here: Global Profit/Loss Management: How Daily Net Profit/Loss is Calculated for a Trade Account You need to look at the Chart Stats tab of the Trade Activity Log. 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: 2021-05-07 02:26:39
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| [2021-05-07 02:26:45] |
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We gave the wrong link previously. It is corrected above.
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: 2021-05-07 02:26:51
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