Help With Daily Profit/Loss Value
Help With Daily Profit/Loss Value
This help topic explains how the Daily Profit/Loss value you see on the Trade Window is determined and to troubleshoot inaccuracies with it.
The Daily Profit/Loss can also optionally be displayed at the top left of a chart or Trade DOM. The Daily Profit/Loss is prefixed with DPL:. Refer to the image below.
This documentation also applies to the Net Profit/Loss (NPL:/N:) when Global Settings >> Chart Trade Settings >> Include Open P/L in Chart/Trade DOM P/L Display is enabled. The Net Profit/Loss is Daily Profit/Loss plus Open Position Profit/Loss.
The documentation on this page primarily applies to non-simulated trading but also applies to simulated trading. Since simulated trading functions in a very well controlled environment within Sierra Chart, generally there should not be inaccuracies with the Daily Profit/Loss, but there can be circumstances where there could be. This page goes into detail explaining how the Daily Profit/Loss is determined.
There can also be incorrect settings which can affect the displayed Daily Profit/Loss value and can cause inconsistencies. For more information about these settings, refer to Profit/Loss Calculations and Symbol Settings.
It needs to be understood that Sierra Chart is an independent Trading and Charting program which is integrated with various Trading services. Sierra Chart also has its own Trade Simulation Mode.
You cannot compare the Daily Profit/Loss value that you see within Sierra Chart to a brokerage account statement. Or other trading programs connected to your trading account. Inevitably there are going to be calculation differences for various reasons which can result in a different value. This particular help topic guides you through how the calculations are arrived at within Sierra Chart and how to determine if there is an incorrect setting or a problem with the order fill data.
- It is important to understand exactly what the Daily Profit/Loss is and how it is calculated within Sierra Chart. For complete details, refer to the Daily Profit/Loss section on the Chart Trading page.
Basically the Daily Profit/Loss value includes the total Profit/Loss for Trades (consisting of an opening order fill and a closing order fill) that were opened and closed within the current trading day. Only opening and closing order fills which occur within the trading day, are included in this calculation. If there was a Trade Position in a prior day for a particular Symbol and Trade Account and it is closed in the current day, the profit or loss of that trade will not be included.
- The Daily Profit/Loss may not display in a Historical Daily or longer timeframe chart if the Date-Time of the last bar in the chart is ahead of the Date-Time of the Trades in the current trading day. Therefore, only use Intraday charts when relying on Daily Profit/Loss values within a chart.
- Select Global Settings >> Chart Trade Settings. Uncheck the Include Open P/L in Chart/Trade DOM P/L Display (NPL) option if it is already enabled. Press OK. This will remove the Open Profit/Loss from being added to the Daily Profit/Loss, which will give you the Net Profit/Loss. This avoids confusion.
- The trading day begins at the Global Settings >> General Trade Settings >> Daily Stats Reset Time. In the case where this is set to a time other than 00:00:00, this time starts in the prior trading day. For example, if the date is 2014-01-02 and Daily Stats Reset Time is set to 18:00:00, then the trading day begins at 2014-01-01 18:00:00 and continues until 2014-01-02 17:59:59.
- Select Global Settings >> General Trade Settings. Make sure the Daily Stats Reset Time is set to the beginning of your trading day. This time is relative to the global Time Zone setting in Sierra Chart or the chart specific Time Zone setting. Press OK to close that window. After changing this setting, for it to fully go into effect for a chart, you need to go to that chart and select Chart >> Reload and Recalculate.
- Verify you have the correct Profit/Loss format set in Chart >> Chart Settings >> Advanced Settings. Refer to Profit/Loss Format. For example, if you want to see a Currency Value and you see the letter P suffix after the Profit/Loss value, then you are looking at Points and not a Currency Value.
- There are 2 different order fill matching methods, LIFO and FIFO. For further information, refer to Order Fill Grouping and Matching Methods. Choose the one that you want to use.
- Select Chart >> Chart Settings >> Advanced Settings. Make sure the Order Fills Start Date-Time Date box is either blank or includes a date before the current day to ensure the needed order fills are loaded in the chart. If this resolves the problem with the Daily Profit/Loss calculation, then stop here.
- The Daily Profit/Loss value is calculated from the order fills available for the symbol. Select Trade >> Trade Activity Log.
- Select the Trade Activity tab.
- On the Trade Activity Log, at the top left select Fills.
- Select the Symbol from the list of symbols. In the case of when you are using Sierra Chart Trade Simulation Mode, the symbol will be prefixed with [Sim].
- Select the Trade Account you want to see order fills for from the list of trade accounts. This needs to be the same Trade Account that the Trade Window for the chart is set to.
- In the list of Order Activity Sources at the top of the Trade Activity Log, select Non-simulated. In the case of when you are using Sierra Chart Trade Simulation Mode, choose Simulated.
- In the Date Range to Display frame, select a From >> Date-Time which corresponds to the description given in step 2 above. Make sure To >> Today is checked. Press Apply after making any changes to the Date-time range. An earlier Date-Time can be used also.
- For further details, refer to Viewing Historical Trade Activity.
- Look at the fills in the Trade Activity tab and make sure they are all there for the current trading day.
- Make sure the Fill Price is correct for each fill.
- Make sure the Open/Close for the order fill is correct. Only order fills which are opened and closed within the same trading day starting from the Daily Stats Reset Time, are included in the Daily Profit/Loss calculation.
- Make sure the Date-Time of the order fill is correct. If the Date-Time of the order fill is incorrect, then make sure your computer's clock is set accurately.
- If there are any missing or inaccurate fills, they can be inserted or edited using the Edit menu of the Trade Activity Log. Refer to the Menu Commands documentation.
- Select the Trades tab on the Trade Activity Log. At the top select Fill to Fill. You must select Fill to Fill and not Flat to Flat.
- In the Date Range to Display frame, set the starting From >> Date-Time far enough back to load all of the available order fills. For example, 1 year back. You will need to use a far back From >> Date-Time if Chart >> Chart Settings >> Advanced Settings >> Order Fills Start Date-Time has the Date box blank. Otherwise, do not change the From >> Date-Time setting previously set. Press the Apply button.
- On the Trades tab, you can see how all of the order fills are grouped into individual Trades. One thing to be aware of is that it is possible that a closing fill within the current trading day, could have been matched up to an order fill in a prior trading day. Therefore, this particular Trade will not be included in the Daily Profit/Loss since it did not completely occur within the current trading day. One reason this could occur is when there are missing order fills in the Trade Activity Log.
- For various technical reasons there is no guarantee as to the accuracy or completeness of the order fill data. Sierra Chart is not the provider of the backend trading system you are connected to and usually the backend trading system only maintains and historical order fill data for 1 day. Therefore, there is always a possibility order fills can be missed in the case of non-simulated trading.
- It may be a good idea to clear the non-simulated Trade Activity for the particular Symbol and Trade Account which you will be trading, at the start of the day. This way the calculations will be starting from a clean state. Refer to Clearing Trade Activity.
- If after following all of the above instructions, you cannot resolve an issue with the Daily Profit/Loss value, then when you are flat the market for a particular Symbol and Trade account, clear the Trade Activity for that Symbol and Trade Account.
*Last modified Saturday, 24th March, 2018.