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Indicator that plots " Acual " P/L in cents and dollars....
I am going to try and word this as best as possible, and hopefully not confuse everybody ( including myself ) lol
What I am looking for, is a way to toggle up and down on my charts by either using my CrossHair or something similar that will ...... show me in actual Dollar and Cent amounts, what the Risk will be if I were to place my stop at certain price points.
With trading the Futures, some of the contracts are calculated down to the smallest of increments ( .001 and .01 cent ).... such as RBOB , Heating Oil , Natural Gas , Ethanol and Copper
a .001 cent move on both RBOB and Heating Oil is $42 ...... change it to .01 cents, and that's a $420 risk ( quite large, depending on account size of course )
I would like to be able to know these totals with the simplicity of moving my mouse ( crosshair ) above and below my entries , and know what my Actual Risk will be in cents and dollars, if I were to place my stop at various price points.
Trying to save myself some Calculator time you could say
Any help would be much appreciated
Thanks - Michael
Can you help answer these questions from other members on NexusFi?
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
Maybe just a typo but RBOB & Heat are both 42,000 Gallon contracts with a tick size of $0.0001.
Hence the minimum price change is $42 but a 1c move is $4200 not $420
I was wondering please, what platform you trade off of ?
I trade on TorS , and they do not have a " Ruler " tool .... I think the closest thing to it, is the Fib. extension tool
Except, I can not figure out how to get this tool to show the ( $ movement )