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Open Feature request MC-614

"Dollars per Trade" incorrect for FOREX

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Description

When using "Dollars per Trade" in the Strategy Properties window, the strategy position amounts are calculated incorrectly for FOREX. See attached screenshot with notes added.

The pairs where USD is the Quote Currency, the position amounts are correct. However where the USD is the Base Currency and for Crosses, the position amounts are incorrect.

When the USD is the Base Currency (1st currency in the symbol), the "Dollars per Trade" should always be the position amount. Example: for USD/CHF, when 100,000 is input, all trades should be 100,000.

For Crosses (non USD pairs), the position amount should be calculated per the Base Currency to USD ratio. Example: for EUR/JPY, when 100,000 is input, amount should be based on EUR/USD calculated position amount.

It appears MC is always calculating assuming the Quote Currency (2nd currency in the symbol) is Dollars (as in USD). This is incorrect. If this is the intended behavior, then we need options for choosing the "Dollars per Trade" currency (IOW, option for "CHF per Trade", "Yen per Trade", etc.)

Steps to reproduce this issue

Insert any canned strategy into a FOREX chart. In the Strategy Properties window, choose 100,000 (or any amount) for "Dollars per Trade". See screenshot.

Comments (4)
#0
user-offline.png  Dave (Dave)
Sep 20, 2011 - 07:57

MC calculates all the values in the second currency of the symbol (JPY in case of EUR/JPY).  If you want the values to be displayed in the first currency of the symbol or in USD, you should change big point value settings for this symbol accordingly (Quote Manager --> right click on the symbol --> Edit Symbol --> Settings): BPV = 1 JPY in EUR (or USD) for EUR/JPY.

#0
user-offline.png  gmoney (gmoney)
Sep 20, 2011 - 09:57

I am unable to change the BPV settings as you describe.  I can only input numbers (not symbols), and can only input up to 2 decimal places.  This does not allow correct ratios to be input.
 
I can manually configure this by calculating the correct amounts myself and inputing trade size in the "Fixed Shares/Contracts", but the "Dollars per Trade" is unusable for any symbol that doesn't have USD and the 2nd currency.

#0
user-offline.png  gmoney (gmoney)
Sep 23, 2011 - 11:16

It is very important for FOREX trading to be able to trade the correct position size.  Until the ability to set position size to US dollars (or whatever base currency someone is using), we can not trade crosses with the correct amount.
 
This is a very critical issue for me and my business partner.  We would like to execute a FOREX CTA Program with MultiCharts but can't yet because of this.

#0
user-offline.png  gpw797 (gpw797)
Jan 17, 2014 - 01:18

Currencies should be converted back to your base currency. Profits/losses need to be converted to your base currency manually. Right now you need to make custom commision rules in different currencies. All slippage should be specified in pips/ticks NOT $. Now you need to take your estimated slippage in pips and convert that to the currency being traded, then do all this over again when you trade a different forex symbol. Poor implementation of forex :(

History
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  • Type of issue
    Feature request
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  • Status
    Under Review
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  • Severity
    Critical
Attachments (1)
  • /pm/public/files/show/251
    Screenshot showing chart and setup. uploaded Sep 19, 2011 by gmoney (gmoney)
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