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MultiCharts PM Project Management requests you want bumped
Having seen the features of a new platform developed in Austria, some improvements for discretionary traders should be incorporated in Multicharts.
Those are,
1. the ability to have a stop which modifies the position size depending on its location relative to the corresponding entry order. In case one would like to entry with a limit order and the last significant low should be used as a location for the corresponding stop, the new type of order would adjust automatically the position size corresponding to the predefined maximum loss amount.
2. The ability to attach a exit order to the value delivered by an indicator or a hand drawn trendline.
3. Two types of stops
Hard Stop if touched a market order is executed immediatly
Soft Stop In case of an sell stop If touched during a bar without the closing of that bar below the stop level the stop is not executed.
The issue can be found at the following link MC-1527
Description
For MC .Net, currently, we have to develop two sets of order codes if we want to use unmanaged orders in realtime. The first set is for backtesting (since unmanaged orders are not supported during backtesting) and another for realtime. Make unmanaged orders available for backtesting would greatly reduce our development time (managing both codes and coding it).
Description:
When placing an entry order with a stop loss order attached to it there should be an option to automatically calculate and set the position size based on a set risk amount. When you change the entry order level or the attached stop loss order level, position size changes accordingly based on the set risk amount.
This is a basic money management technique. If this routine would be automated, it would provide traders with more time to check the quality of their trades instead of on calculating the position size manually.
AgenaTrader has implemented this very well (with even more risk and moneymanagement options). Here is the link to their online help where their implementation of automated risk and money management is explained: AgenaTrader online help
Please, vote.
Without the first two, Multicharts' backtesting is just as good as any other one. Funny enough, AmiBroker is actually doing MC-1881. With first two included, MC becomes a bit different.
The rest of the below, would make MC a bit of a much better tool.
