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submitted by bc_varney 8 months, 10 days ago

Peformance evaluation is critical to improvement. 

A key trading parameter  is the "Basis Average Price"  and "Basis Closed P&L" .    These two give the trader a means of evaluting per  trade performance.   

Calculating trade performance are done as follows:

Pips from trade = Basis  Average Price - Price from the closing trade  ( produces total pips)

Performance =  Basis Closed P&L  divided by Pips from trade

The performance calculation produces a number.    As trades improve the number increases.     This way the trader can track daily trade efficiency  and do more of the trades that make the higher number.  

Problem:    The "Basis Average Price"  and "Basis Average P&L" are turned off in Forex.     The "Total Average Basis"  is only visible during a trade.   Once the trade is complete and lots=0   the Total Average Basis value is erased.       If entries or exits were made in quick succession just before closing the position it is almost impossible for the trader to record the Total Basis Average price before it is erased.           There just isn't any easy way to get the Basis value for pips and P&L with out these values.       Value can be reconstructed using the order book but if I have many trades that can be  difficult.  

Suggestion:    Is it possible to turn the Basis Average  and Basis Average P&L  back on.     Basis Average was active over 1.5 years ago.    If that can't be done can the Total Cost Basis value remain visible at the close of a trade. (lots value returned to zero)    

 

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Comments:
How do you handle FIFO vs. Avg costing? I have no problem expanding analysis of trades, it has been suggested many times however with FIFO this makes for very confused clients.
R
posted by ross_ditlove 8 months, 9 days ago
Ross I read about your comments for Metatrader4 position price. I see the confusion you are talking about.

I think I might have a work around. Desktop Pro buys and sells are averaged, therefore a FIFO doesn't apply. [If my understanding about position price for Desktop Pro is not right I would appreciate a correction]

For the positions window you make column headings just for Desktop Pro. . . . .i.e. . D_Pro Basis Average and and another D_Pro Basis Closed P&L.

The confusion about FIFO and Averaged position would be eliminated. I would know tha D_Pro Basis Average Price is an averaged position price.
Note: The values are not turn off when lot size goes to zero. When a new position is entered D_Pro average generates a new average and erases the previous one.

The D_Pro Basis average price would work for my performance evaluations.
posted by bc_varney 8 months, 8 days ago
Want to send me a spreadsheet to show me what you mean?

ceo@mbtrading.com

Ross
posted by ross_ditlove 8 months, 5 days ago



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