Anyone have the correct settings for the USD.JPY, i'm using:
Price Scale: 1/100000
Daily Limit: 1
Min Movement: 1
Big Point Value: 1
I can't seem to get the correct setting for this pair or gbp/jpy or eur/jpy when running the back test. Basically looking to take a standard lot of 100k.
Any assistance would be appreciated.
Quote Manager
- Andrew Kirillov
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- Andrew Kirillov
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With EUR.USD, GBP.USD i'm using 100k lots for my strategy, that works fine.
When I try the same for USD.JPY, the 100k spits out numbers off the chart so i'm forced to use 100 as the quantity, not 100k. The ultimate problem is submitting automated order to IB with quantity of 100, rather than 100k
I'm guessing it has something to do with the conversion because the same usd.jpy issue happens with the cross currency pairs.
When I try the same for USD.JPY, the 100k spits out numbers off the chart so i'm forced to use 100 as the quantity, not 100k. The ultimate problem is submitting automated order to IB with quantity of 100, rather than 100k
I'm guessing it has something to do with the conversion because the same usd.jpy issue happens with the cross currency pairs.
- Andrew Kirillov
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Dear LTG,
This is because MultiCharts calculate everything in US dollars only.
In case of USD/JPY and similar ones your quote currency is JPY not USD.
So in your case you should think all the calculations as they were in JPY.
Hence to buy 100K USD you need something about 9-10M JPY.
So you need to set at least 10M as your initial capital in MultiCharts (if you have Big Point Value = 1); and at least 90M if you set Big Point Value = 9.
PS. Probably we'll improve MultiCharts so it can perform multi-currency calculations.
This is because MultiCharts calculate everything in US dollars only.
In case of USD/JPY and similar ones your quote currency is JPY not USD.
So in your case you should think all the calculations as they were in JPY.
Hence to buy 100K USD you need something about 9-10M JPY.
So you need to set at least 10M as your initial capital in MultiCharts (if you have Big Point Value = 1); and at least 90M if you set Big Point Value = 9.
PS. Probably we'll improve MultiCharts so it can perform multi-currency calculations.
Andrew,
your solution doesn't solve my problem. I want to fully automate my orders to interactive broker with the correct quantity.
Right now the quantity is correct for all the other pairs except for the jpy. I want to route 100,000k or 1 standard lot of usd.jpy.
Right now to get the strategy to work I have to use quantity of 100, which isn't a 100,000k.
All the quote manager settings are correct but this portion of it isn't.
Can someone look into this and tell me what the issue and how to appropriately resolve it.
Thx
your solution doesn't solve my problem. I want to fully automate my orders to interactive broker with the correct quantity.
Right now the quantity is correct for all the other pairs except for the jpy. I want to route 100,000k or 1 standard lot of usd.jpy.
Right now to get the strategy to work I have to use quantity of 100, which isn't a 100,000k.
All the quote manager settings are correct but this portion of it isn't.
Can someone look into this and tell me what the issue and how to appropriately resolve it.
Thx
- Andrew Kirillov
- Posts: 1589
- Joined: 28 Jul 2005
- Has thanked: 2 times
- Been thanked: 31 times
- Contact:
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Re: Quote Manager
Could this be related to the fact that MC still does not support Currency Conversion Factors (i.e. Look at LossCF and ProfitCF reserved words in TS) I believe you need this to calculate Point Values in Cross Currencies.
ATC
ATC