Oanda and MC

Questions about MultiCharts and user contributed studies.
LA901
Posts: 18
Joined: 15 Dec 2014
Has thanked: 7 times
Been thanked: 4 times

Oanda and MC

Postby LA901 » 15 Dec 2014

I have an Oanda account and was interested in the new ability to trade via MC and I'm so far liking the platform a lot.

I do however have a few queries:

1. The open P/L within the Accounts tab of the Order and Position Tracker Window is incorrect (P/L within Open Positions tab and on the chart trading tools is correct).

2. Oanda have a maximum single position size of 100 lots for FX or 10M units.

When using an OCO bracket to attach a SL and TP to open positions this becomes a problem with how MC treats seperate positions as one overall position.

For example if I enter a long with 10M the OCO bracket attaches fine.

If, however I open a new 10M position, then MC won't open the new OCO bracket - because it treats the overall trade as 1 x 20M position and of course a 20M OCO bracket is bigger than the allowed max single position size on Oanda so I'm left with a 20M open position and a 10M OCO bracket (as per the attached screenshot).

The only way I can close the 20M position is via two seperate 10M market orders or through two seperate 10M limit/stop order combinations (but of course these are not now OCO orders).

Is there anyway around this, or any plans to deal with this scenario?

3. I understand that the OCO's are not server side i.e. they appear as seperate limit/stop orders within Oanda's platform (and not as a SL, TP to an existing position) and it's only MC that knows they are OCO orders, thus when MC closes the OCO's automatically close. Is there anyway for the OCO's to be automatically re-opened when MC is started again?

4. Finally, are there any plans for a built in position size calculator?

I understand that for futures trading the available lot sizes are restricted to whole lots and fixed lot size trading is much more common. However for FX trading (with the ability for mini and micro lots) there is much more freedom with lot sizes and it is more common for lot size to be determined based on x% risk of account equity/balance x original SL size i.e. for each trade to have an individually determined lot size down to micro, mini lot accuracy.

Therefore, platforms designed for FX normally have either built in calculators or 'chart trading' ability where lot size is automatically determined via lines placed on a chart for SL, entry and a fixed risk % etc.
Attachments
2.png
(38.34 KiB) Downloaded 562 times

User avatar
Andrew MultiCharts
Posts: 1587
Joined: 11 Oct 2011
Has thanked: 931 times
Been thanked: 559 times

Re: Oanda and MC

Postby Andrew MultiCharts » 15 Dec 2014

Hello LA901,
1. The open P/L within the Accounts tab of the Order and Position Tracker Window is incorrect (P/L within Open Positions tab and on the chart trading tools is correct).
P/L values on Accounts tab are the values Oanda sends to MC through API. The P/L values on Open Positions tab and on charts are the values calculated by MultiCharts.
2. Oanda have a maximum single position size of 100 lots for FX or 10M units.
When using an OCO bracket to attach a SL and TP to open positions this becomes a problem with how MC treats seperate positions as one overall position.
For example if I enter a long with 10M the OCO bracket attaches fine.
If, however I open a new 10M position, then MC won't open the new OCO bracket - because it treats the overall trade as 1 x 20M position and of course a 20M OCO bracket is bigger than the allowed max single position size on Oanda so I'm left with a 20M open position and a 10M OCO bracket (as per the attached screenshot).
The only way I can close the 20M position is via two seperate 10M market orders or through two seperate 10M limit/stop order combinations (but of course these are not now OCO orders).
Is there anyway around this, or any plans to deal with this scenario?
Please follow the next steps:
  1. MultiCharts: File --> Preferences --> Trading --> Manual Exit Strategies Modes --> All to Orders --> OK
  2. Close MultiCharts and all its parts
  3. Make sure all MC processes are ended in Windows Task Manager. Here you can find the list of all MC processes: https://www.multicharts.com/trading-sof ... _Processes
  4. Restart MultiCharts
3. I understand that the OCO's are not server side i.e. they appear as seperate limit/stop orders within Oanda's platform (and not as a SL, TP to an existing position) and it's only MC that knows they are OCO orders, thus when MC closes the OCO's automatically close. Is there anyway for the OCO's to be automatically re-opened when MC is started again?
Are you auto-trading or trading manually?
4. Finally, are there any plans for a built in position size calculator?
I understand that for futures trading the available lot sizes are restricted to whole lots and fixed lot size trading is much more common. However for FX trading (with the ability for mini and micro lots) there is much more freedom with lot sizes and it is more common for lot size to be determined based on x% risk of account equity/balance x original SL size i.e. for each trade to have an individually determined lot size down to micro, mini lot accuracy.
Therefore, platforms designed for FX normally have either built in calculators or 'chart trading' ability where lot size is automatically determined via lines placed on a chart for SL, entry and a fixed risk % etc.
Thank you for your suggestion. Please leave us such feature request.

LA901
Posts: 18
Joined: 15 Dec 2014
Has thanked: 7 times
Been thanked: 4 times

Re: Oanda and MC

Postby LA901 » 15 Dec 2014

Many thanks for the quick response.

The solution to the position size limit issue worked fine.

I'm a manual trader.

User avatar
Andrew MultiCharts
Posts: 1587
Joined: 11 Oct 2011
Has thanked: 931 times
Been thanked: 559 times

Re: Oanda and MC

Postby Andrew MultiCharts » 15 Dec 2014

3. I understand that the OCO's are not server side i.e. they appear as seperate limit/stop orders within Oanda's platform (and not as a SL, TP to an existing position) and it's only MC that knows they are OCO orders, thus when MC closes the OCO's automatically close. Is there anyway for the OCO's to be automatically re-opened when MC is started again?
Are you auto-trading or trading manually?
I'm a manual trader.
Unfortunately the answer is "no",


Return to “MultiCharts”