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if positionprofit > 1% of trade value?
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if positionprofit > 1% of trade value?

  #1 (permalink)
Elite Member
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Futures Experience: Intermediate
Platform: multicharts, ninjatrader
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if positionprofit > 1% of trade value?

Hi - I'm a little bit stuck here.
I have absolute values in my code such as:
if positionprofit > 1000 and...
however, when I run this code on something like pesos or yen I believe it is calculating positionprofit in that currency. So the code will execute when it shouldn't.

How would I make this relative? example:
"if positionprofit > (1% of trade value)"...

Thanks in advance.

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  #3 (permalink)
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Sorry - that question was in reference to Multicharts

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Answer
This post has been selected as an answer to the original posters question Answer

Relatively new to MC myself so don't know most of the in's and out's but one way to convert to percent might be

Value1 = PositionProfit / (AvgEntryPrice * CurrentContracts) * 100;

assuming PositionProfit and AvgEntryPrice are reported in the same currency :-/

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That looks like a good solution. I've improvised myself and used:

if positionprofit > InitialCapital*.01 - however, I need to ensure that initialcapital is in the currency that profits are reported in - so I may be trading size 100k but if I'm trading yen then I set the initialcapital @ 8,300,000... this seems* to work... not a great solution though...

Thanks for your thoughts.

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