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Date/Time: Tue, 23 Jul 2024 22:58:58 +0000



Show actual potential P/L instead of average-based value on trade position lines?

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[2023-05-01 15:02:00]
mk53v3n - Posts: 73
Hi, I have a question about the potential profit/loss that is displayed on the trade position lines in the charts (see attached screenshots):

When I enter a position with 1 lot (in this example 1 short position in the S&P500 future) and place my stop/loss and my take/profit each 10 points away from my entry, both lines accurately show -10.00P and +10.00P respectively. (see screenshot 1)

Now, when the market goes 1 point into my favor and I sell a second lot, a second pair of trade position lines is added. (see screenshot 2)

I have the Scale-In option disabled because I want to have separate lines for each contract that I trade.
However, this also changes the P/L values that are shown on my original two trade position lines: Although I did not move them, they now show a potential loss of -10.50P and a potential profit of +9.50P (instead of the previously shown -10.00P and +10.00P which would be accurate).

I understand where the updated figures come from (Sierra obviously calculates the potential P/L based on the average entry price over all my positions).
However, I find this quite confusing because it's not the exact P/L that I would make when the corresponding orders are triggered.

So, I never know exactly how much money I win or lose beforehand on each individual position, unless I manually calculate it myself for every trade position line.

Is there any way to configure / change this, so that each trade position line shows the true P/L based on the actual entry price for the corresponding contract rather than a value that is based on the average entry price over all my contracts?
imagePic1.png / V - Attached On 2023-05-01 14:56:43 UTC - Size: 6.17 KB - 84 views
imagePic2.png / V - Attached On 2023-05-01 14:56:46 UTC - Size: 7.87 KB - 78 views
[2023-05-02 11:46:11]
Sierra_Chart Engineering - Posts: 15556
There are different calculation methods available for the Position Average Price:
Trading Information Windows: How Average Price for Positions Is Calculated and Used

This is all that there is.
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, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-02 12:13:56]
mk53v3n - Posts: 73
Thanks for the link! However, I think the linked documentation does not really describe what I'm looking for.

How the average price for positions is calculated and shown in the trade window is perfectly fine for me.

My issue rather is that the individual position lines in the charts do not show the exact P/L based on the exact corresponding entry for each position, but rather show a value that is only based on the average entry price (i.e. the shown P/L is wrong in most cases unless you completely flatten the trade and close the whole position at once).

So, just to make sure that I understand you correctly and that I didn't overlook it in the documentation:

This is the way it's supposed to be, and there is no possibility to change this?
[2023-05-02 12:49:54]
Sierra_Chart Engineering - Posts: 15556
Yes:
This is the way it's supposed to be, and there is no possibility to change 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, use the Teton service:
Sierra Chart Teton Futures Order Routing
[2023-05-02 14:24:20]
mk53v3n - Posts: 73
Ok, thanks a lot for the confirmation!

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