Alternative to PortfolioEntriesPriority - For Chart Trading

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trader0311
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Alternative to PortfolioEntriesPriority - For Chart Trading

Postby trader0311 » 12 May 2015

Hi,

I realize that there is a function to set the entry priority when you are using Portfolio Trader. I also realize that when you are using multiple strategies on a chart, the order in which the strategies are placed within the chart determines the entry priority.

However, if you would like to manage a portfolio using charts instead of the portfolio trader (maybe because I am using a bar type that is not available in the portfolio trader)......how can I set the entry priority across multiple charts and multiple securities? Is this possible?

Also, can you apply a money management signal that would allow you to manage multiple strategies across multiple charts that will prevent you from busting your margin. That is, that I could set my maximum margin and entries would continue to be placed until my max margin was hit and then the orders would be rejected. For example, if I can trade 2X my account value, but only want to trade with 1.25 X my account value....can I set this anywhere either in Multicharts or at my broker which is Interactive Brokers?

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Henry MultiСharts
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Re: Alternative to PortfolioEntriesPriority - For Chart Trad

Postby Henry MultiСharts » 13 May 2015

Hello trader0311,

By default charts cannot share any information between each other. If you want them to talk - you need to use Global Variables which is a 3rd party dll. You can have a master signal that will collect information from all individual signals, manage the entries priority and money management, then push proper commands back to individual signals. But it is like reinventing the wheel as all of that is already available in Portfolio Trader.
Some non-standard chart types (Line Break and Heiken Ashi specifically) will be added to Portfolio Trader in MultiCharts 9.1 Beta 1.

trader0311
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Re: Alternative to PortfolioEntriesPriority - For Chart Trad

Postby trader0311 » 13 May 2015

Thanks Henry,

I tried to do an optimization for portfolioentrypriority in the portfolio trader but it said that portfolioentrypriority could only be used once within a strategy. I had multiple strategies applied to one symbol, and it was giving me this error.

I then tried to create numerous separate strategies all applied to the same symbol, but the problem here is that I am looking to have only one open position at a time for the symbol, and even when I use portfolio money management settings specify that at no time should the portfolio trade with more money than I specify, it still does. For example, if I have 3 strategies applied to SPY and I want to only allow one strategy to trade at a time, and I set my portfolio capital at $100,000 and then set each strategy to trade a $100,000 lot size and set the money management to not exceed 100% of my portfolio value..... multiple entries still take place and at times I have $300,000 worth of exposure for a portfolio of $100,000. Does that make sense? What I am trying to do is to optimize for the signal priority.

I appreciate your help on this. Any news on when the new update for portfolio trader will be released?

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Henry MultiСharts
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Re: Alternative to PortfolioEntriesPriority - For Chart Trad

Postby Henry MultiСharts » 13 May 2015

trader0311,

Strategies access the current capital value before the calculation. The orders are generated on the same calculation by different trading strategies. One strategy is not aware about the orders of the other strategy. Therefore you need to use the Portfolio Money Management Signal to filter trades.

PMM signal and the PortfolioEntriesPriority keyword are both applied to the portfolio. PortfolioEntriesPriority keyword is a legacy and it can interfere with the PMM signal. We do not recommend you use it when PMM signal is used.

If you want to control the entries priority - it is being done by the prebuilt Portfolio Rank strategy. Please see the “Portfolio Rank MM Signal” in your PowerLanguage Editor. You can find the code description at this page: https://www.multicharts.com/trading-sof ... y_Examples

trader0311
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Re: Alternative to PortfolioEntriesPriority - For Chart Trad

Postby trader0311 » 13 May 2015

Thanks Henry,

Would you or anyone else have some simple code that I could use as a money management signal that would simply limit the amount of my portfolio that is available to trade. So conceivably I could have 100 strategies, each programmed to invest $100,000 per trade. If I only have $100,000 in capital in my portfolio then the money management code would only allow one strategy to be in the market at a time because I am placing a trade with $100K and that would represent all of my $100K account value.

If I could get this figured out, then portfolio trader would start with the strategy that has the highest priority assigned to it and cycle through the strategies (from highest priority to lowest priority) and take the first signal that it finds. Then, after the first trade is made, no subsequent trades would be placed because my account is 100% invested.

I apologize for the questions but I have never programmed anything having to do with money management. I read the examples but am still a bit confused.

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Henry MultiСharts
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Re: Alternative to PortfolioEntriesPriority - For Chart Trad

Postby Henry MultiСharts » 14 May 2015

Hello trader0311,

We can write a script for you as a custom project. You can send your detailed technical specifications and screenshots demonstrating your inquiry to support@multicharts.com


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