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Order and Position Tracker - Open P&L


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Order and Position Tracker - Open P&L

  #1 (permalink)
Switzerland
 
Experience: Beginner
Platform: MultiCharts, TradeInterceptor
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Posts: 13 since Mar 2011
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Order and Position Tracker - Open P&L

I've been told by the MC support that the open P&L number on the Order and Position Tracker, is show in domistic currency, for foreign exchange, i.e the right currency.
This mean when trading USD/JYP the open P&L is displayed in JPY instead of USD. Is there anyone trading JPY crosses that can confirm this?
What settings are you using for USD/JPY. I keep all currency pairs on the "Use Exchange & ECN's Settings" FOREX, except the JPY crosses, because of the different pip size for JPY. There I have price scale = 1/1000 and Big Point Value = 100. I think the I have got he pip size right but I'm confused since the MB Trading data feed uses 'pipettes', 1/10 pips. This makes all pip calculations in MC 10 too big (MC treats every price change as a pip change, when in fact the change that MBT sends is a 1/10 pip).
Just wanted to know if someone has a working setup for these things, before I register on the for the bug tracker and submit these issues that way.

Thanks for reading, and for any advice.

ccfeldt

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  #2 (permalink)
Australia
 
 
Posts: 32 since Dec 2010
Thanks: 7 given, 3 received

price scale settings

I too am confused on what Exchange & ECN settings I need to set for:

Price Scale, Daily Limit, Min Move and Big Point Value.

I am trading just EUR/USD at the moment and I noticed different price scale settings effects the backtest results quite a bit ie if set to 1/10000 I get an 80% win rate and then when set to 1/100000 I get only a 70% win rate.

Do these settings need to differ depending on which currency pair I'm trading? and which broker I'm trading through?

Any help is appreciated.

Cheers,

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  #3 (permalink)
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nismo View Post
I too am confused on what Exchange & ECN settings I need to set for:

Price Scale, Daily Limit, Min Move and Big Point Value.

I am trading just EUR/USD at the moment and I noticed different price scale settings effects the backtest results quite a bit ie if set to 1/10000 I get an 80% win rate and then when set to 1/100000 I get only a 70% win rate.

Do these settings need to differ depending on which currency pair I'm trading? and which broker I'm trading through?

Any help is appreciated.

Cheers,

Yes, price scale will be determined by your data feed or broker. For instance, futures quotes the EUR/USD in 1/1000th's whereas some forex brokers, like MB Trading, will quote in fractions up to 1/10000th's.

Daily Limit is for indicator/strategies and is not used anymore, I believe it is deprecated.

Min Move is the minimal tick movement for the instrument. ES for instance moves in 0.25 increments. EUR/USD for futures moves in 0.0001.

Big Point Value is how much money a "point" is worth. ES for example: 4 ticks = 1 point, so 12.50 x 4 = $50 - in order to move from 1300.00 to 1301.00.

Mike

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  #4 (permalink)
Australia
 
 
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Big Mike View Post
Yes, price scale will be determined by your data feed or broker. For instance, futures quotes the EUR/USD in 1/1000th's whereas some forex brokers, like MB Trading, will quote in fractions up to 1/10000th's.

Daily Limit is for indicator/strategies and is not used anymore, I believe it is deprecated.

Min Move is the minimal tick movement for the instrument. ES for instance moves in 0.25 increments. EUR/USD for futures moves in 0.0001.

Big Point Value is how much money a "point" is worth. ES for example: 4 ticks = 1 point, so 12.50 x 4 = $50 - in order to move from 1300.00 to 1301.00.

Mike

Thanks for the reply Mike, but I'm still a little confused if you could please help explain further.

Do I just ask my broker what the price scale is or is there a way to work it out? Is it just how many decimal places are quoted for the price ie EUR/USD with MB Trading quotes up to the 5th decimal for fractional pips so example would be 1.41234?

So for Min Move I just enter in 0.00001 as once again MB Trading quotes fractional pips up to the fifth decimal?

As for Big Point Value with MB Trading there is no lot sizes so what do I put for Big Point Value?

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  #5 (permalink)
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nismo View Post
Thanks for the reply Mike, but I'm still a little confused if you could please help explain further.

Do I just ask my broker what the price scale is or is there a way to work it out? Is it just how many decimal places are quoted for the price ie EUR/USD with MB Trading quotes up to the 5th decimal for fractional pips so example would be 1.41234?

So for Min Move I just enter in 0.00001 as once again MB Trading quotes fractional pips up to the fifth decimal?

As for Big Point Value with MB Trading there is no lot sizes so what do I put for Big Point Value?

Correct, 5 decimals = 1/10000th. Min movement would be 1 actually for EUR/USD, whereas ES is 25.

Big point value for EUR/USD futures (12.50/tick) would be 12.50x1000 = 12500, I believe. For MB Trading I'm actually not sure, a little confused because of the fractional pips they quote in and then factoring in $1/pip. I've actually not traded via MBT on MC yet, I've been using MBT Desktop Pro but will set it up soon enough and find out.

It's not hard to test and see if your math is right or wrong, the MC7 DOM will show you a PnL and you can see if it is right or wrong by placing a trade.

Mike

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  #6 (permalink)
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Big Mike View Post
Correct, 5 decimals = 1/10000th.
Mike

Hey Mike, didn't you forget a zero? 5 decimals =1/100000, 4 decimals =1/10000
or does the th. express the additional zero?

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  #7 (permalink)
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swz168 View Post
Hey Mike, didn't you forget a zero? 5 decimals =1/100000, 4 decimals =1/10000
or does the th. express the additional zero?

Hey it's 4am here and I haven't slept, so anything is possible...

futures = 1/10000th, mbt/forex = 1/100000th

If it's quoted like 1.4012 then 1/10000th, if it's quoted like 1.401256 then 1/100000th.

Mike

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  #8 (permalink)
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Big Mike View Post
Hey it's 4am here and I haven't slept, so anything is possible...

futures = 1/10000th, mbt/forex = 1/100000th

If it's quoted like 1.4012 then 1/10000th, if it's quoted like 1.401256 then 1/100000th.

Mike

Now you should really get a sleep ;-)

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  #9 (permalink)
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swz168 View Post
Now you should really get a sleep ;-)

LOL, I'll stop posting now before I make any more mistakes. But I think everyone understands now how to properly set the value

Mike

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  #10 (permalink)
Australia
 
 
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Big Mike View Post
Hey it's 4am here and I haven't slept, so anything is possible...

futures = 1/10000th, mbt/forex = 1/100000th

If it's quoted like 1.4012 then 1/10000th, if it's quoted like 1.401256 then 1/100000th.

Mike


Ok if:

1.4012 = 1/10,000th
1.401256 = 1/100,000th

what does:

1.40125 = ???

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