Support Board
Date/Time: Tue, 26 Nov 2024 22:36:19 +0000
[User Discussion] - Total P&L Based on Bid/Ask
View Count: 3177
| [2014-03-17 08:09:23] |
| rwilliams1 - Posts: 346 |
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Hi, I am trying to find a way to show the total net profit of all of my open positions that is based on the bid/ask price instead of the Last price. In this way I can see and accurate real time P&L instead of a balance that is based on a Last price which does not show the actual bid/ask price I can close positions at. I am using the Daily P/L Spreadsheet that was suggested to me in a post I made a while back. But my only problem is that this spreadsheet only shows the P&L for the current chart that it is attached to and not the net sum of all of my open positions on various charts. Also, the Open P/L under Total Trade Stats for Charts only shows totals based on the Last price, so it does not accurately reflect my real time virtual P&L. So can you please tell me how I can find a way to simply show me what my total net profits on all open positions/charts will be according to the actual bid/ask of each instrument? I've thought of and tried everything but cannot find a simple way to do this most basic of tasks. Thanks. Date Time Of Last Edit: 2014-03-17 08:09:50
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| [2014-03-17 09:42:42] |
| rwilliams1 - Posts: 346 |
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One additional note. Just so you are aware of the context of what I'm trying to do so that it may be helpful. I just want to place a simple spread/correlation trade using two symbols and get an accurate reflection of what my actual profit is if I close both positions. Obviously using the Last price will not work in this context as the current bid/ask on both instruments may have moved significantly away from both of the quoted Last prices. So I need to know what the actual bid/ask is that I can close both instruments at in order to know what my actual Total Net profit would be. Otherwise, accurate spread trading on this platform is impossible. Am I missing something? Your help is appreciated. Thanks again.
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| [2014-03-17 14:31:37] |
| Sawtooth - Posts: 4120 |
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With the same-named spreadsheet (Daily PL) study added to both charts, you could sum two values by referencing another sheet. To display this value with the Text Display For Study study, you'd need to set the Number of Formula Columns larger than 16, and use, e.g., cell AA3 as the summing cell. |
| [2014-03-17 18:17:37] |
| rwilliams1 - Posts: 346 |
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Thank you, I will try this. However, may I humbly make a suggestion here? I do not in any way want to get in an argument with the programmers over a simple comment, but I think this comment is warranted. Since the end goal of any trading software is to simply increase your account balance, does this not seem like a very convoluted way to get a simple net unrealized trading total that is accurate? Think about this... Anyone who is using SC and has more than one position open or any type of active portfolio with multiple positions, really has no way of knowing what their true accurate unrealized P&L is. There wasn't even a Total Net P&L anywhere in the program until I mentioned it many months ago and it was then finally added to the trading stats page. And now, the only way to get the most basic of functions is to create a spreadsheet for every instrument I have open, and create a formula for each just to get an accurate P&L? Obviously, this is a cumbersome way to get an accurate account balance for such a powerful program. For instance, what if I have a portfolio of 20 different stocks? Do I have to create and attach 20 different spreadsheets to each chart and then continually sum them up in a separate spreadsheet as I add new instruments? All of this just to tell me how much money I am making... Just doesn't seem right. In my opinion, this is not a minor programming oversight. This speaks to the very heart of what a trading program is suppose to do. Accurately tell me how much money I am making at any time! So I am hoping you all would consider a simpler way of reporting and aggregating the open positions so that customers do not have to jump through this many hurdles to get a simple accurate account balance. Once again, this email is not meant to offend (as I know the programmers can get very defensive), I just wanted to state the obvious for something that should be a simple routine for any trading program. Thank you. Date Time Of Last Edit: 2014-03-17 18:48:10
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| [2014-03-17 22:16:53] |
| Sawtooth - Posts: 4120 |
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this is a cumbersome way to get an accurate account balance for such a powerful program
Agreed, but with SC's inherent flexibility, there is usually a solution. In your case, it might be less cumbersome to use a custom dll built with ACSIL, albeit more expensive if you don't program. |
| [2014-03-17 22:39:22] |
| rwilliams1 - Posts: 346 |
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Yes, I agree that with SC's flexibility there is always a workaround. But hopefully you will also agree that an issue as simple as showing how much money I am actually making should not involve any workarounds or programming. It just amazes me how you guys have built the most powerful trading program on the planet, but it takes a custom dll and hiring a programmer just to see how much money I'm actually making. And keep in mind, this is not just a personal issue for me, this issue affects anyone trading with SC who has more than one live position opened. There is literally no way to see how much money you are making. It leaves me scratching my head and dumbfounded why nothing has been incorporated into the program to rectify this most important of issues. :( Date Time Of Last Edit: 2014-03-17 23:03:43
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| [2014-03-18 07:12:41] |
| rwilliams1 - Posts: 346 |
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Fyi, I tried your suggestion and unless I am doing something wrong, it won't allow me to add the Daily PL.scwbf study to two separate charts in the same workbook. When I apply it to one chart, it stops working on the other chart.
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| [2014-03-18 13:13:29] |
| Sawtooth - Posts: 4120 |
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Oops. http://www.sawtoothtrade.com/free-stuff-1.html and re-download DailyPL-.StdyCollct Use it to apply the study to other charts. Be sure to follow the updated instructions there when applying to chart#s other than Chart#1. The correction made is in the spreadsheet study settings. On charts where you already have this study, set the Chart Data Output Sheet Number to 0, and the Formula Source Sheet Number to 1, and copy/paste columns H-J from Sheet1 to the Sheet# corresponding to the Chart#. Or you can remove the spreadsheet study from all charts, and use the updated Study Collection to reapply. Sorry for the mix-up. -Tom Date Time Of Last Edit: 2015-08-14 02:03:39
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| [2014-03-18 18:47:28] |
| rwilliams1 - Posts: 346 |
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Thank you Tom I will try this. Much appreciated. I just have one question. Does this approach to obtaining an accurate net profit seem absurd to you? I am just trying to understand how you guys are usually on top of every little necessary fix when it occurs, but for this most important issue, there seems to be no motivation to address the issue by fixing the program other than telling the customer to hire a programmer or use a convoluted workaround. I am just curious why there has been no attempt to fix the problem within the program rather than shifting the burden to the customer? Your insight is appreciated. Thanks. |
| [2014-03-18 22:12:05] |
| Sawtooth - Posts: 4120 |
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I am an user, just like you. I am not SC Support. I do have an unpublished wishlist of enhancements, but I use the existing flexibility to work around most things. The Daily P/L spreadsheet study is one of those workarounds. When they finish with the non-CLR stuff, maybe they will be open to accepting suggested enhancements. Compared to any other charting program, Sierra Chart is far more willing to accept, and far quicker to implement, a user suggestion. |
| [2014-03-18 22:30:35] |
| rwilliams1 - Posts: 346 |
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Hey Tom, my apologies. Since you post so often, I thought you were part of SC support. :) I guess I just see this as not just an enhancement, but as a basic feature of any trading program. And the fact that SC support won't even respond or acknowledge this post is disheartening. Thanks for all of your help.
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| [2014-05-22 04:23:29] |
| rwilliams1 - Posts: 346 |
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Hi Tomgilb. Hoping you can still read this thread. I was trying to use your spreadsheet as you suggested and after reading the instructions at the page above I still can't get the Daily P/L study to work on more than one chart at a time. When I add the study to a second chart, the format of the second Daily P/L sheet changes its look/format and the cells do not compute. What changes would I have to make to the settings for it to run properly? Thanks again!
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| [2014-05-22 05:01:46] |
| Sawtooth - Posts: 4120 |
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When using the Study Collection to apply this study to any chart# other than Chart #1, do this: 1) Go to Analysis >> DailyPL- and apply. 2) Go to Analysis >> Studies >> select DailyPL >> Setting button >> Settings and Inputs tab >> set the Formula Source Sheet Number to match the Chart #. 3) On the spreadsheet: -On Sheet1, in the upper left corner, click on the rectangle above the 1 and to the left of A, to highlight the entire sheet, then press Ctrl-C to copy. -On the sheet # that matches the chart #, in the upper left corner, click on the rectangle above the 1 and to the left of A, to highlight the entire sheet, then press Ctrl-V to paste. |
| [2014-05-22 06:07:27] |
| rwilliams1 - Posts: 346 |
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Hmmmm. Step one went fine. I added the first instance to the first chart. But when I go to Step 2, I can't find DailyPL anywhere, even under the add custom study button. I checked my data folder and I have both the DailyPL.scwbf and the DailyPL.stdycollct files in the folder but I can't seem to bring it up to complete Step 2.
Date Time Of Last Edit: 2014-05-22 06:08:02
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| [2014-05-22 12:54:59] |
| Sawtooth - Posts: 4120 |
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For item #2, first focus the chart. Maybe you've applied it to the wrong chart. If you've applied the study to the chart with the Study Collection, the DailyPL will be in the Studies to Graph list on the Settings and Inputs tab. |
| [2014-05-23 17:56:40] |
| rwilliams1 - Posts: 346 |
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I have the appropriate chart selected but still am having problems. Let me list what I see and maybe you can tell me where I'm going wrong. 1. I have both the DailyPL.scwbf and the DailyPL.stdycollct files in my data folder. 2. I have two charts open. On the first chart I add the the DailyPL- to the chart by going to Analysis >> DailyPL-. DailyPL- is already listed in the pulldown menu so I select it and add it to the first chart without any problems. 3. Next, when I go to Analysis >> Studies >> select DailyPL. I cannot find DailyPL anywhere to add to the second chart. It is not listed in the Studies Available column or under the Add Custom Study button. So this is where I am having problems. Sorry if I'm a bit slow in getting this working and thanks so much for your help and patience. |
| [2014-06-19 00:45:51] |
| rwilliams1 - Posts: 346 |
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Tomgilb, sorry to bother you again, but I was curious if your DailyPL spreadsheet works with the new Sierra Charts spreadsheet format? I updated to the new version and now your DailyPL spreadsheet no longer shows profit based on the Bid/Ask. The columns for that are now blank and there are no headings.
Date Time Of Last Edit: 2014-06-19 00:46:37
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| [2014-06-19 03:33:51] |
| Sawtooth - Posts: 4120 |
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Currently I do not use the new non-CLR spreadsheets, so I don't know if this study will work on them. The new spreadsheet format is missing some features, and there are other limitations, and I haven't converted any of my spreadsheet studies to it yet. I expect to continue using the CLR version for some time. Unless you must use the non-CLR version for other reasons, there is no reason to use it when using spreadsheet studies, IMO. http://www.sawtoothtrade.com/blog-1.html Date Time Of Last Edit: 2015-08-14 02:04:20
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| [2014-06-19 04:02:39] |
| rwilliams1 - Posts: 346 |
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Hi Tomgilb. I guess I will roll back to the CLR version so that I can use your spreadsheet or until SC Support finally responds and addresses the problem of not having an accurate P&L inside their program. Thanks for getting back to me and providing a link to your blog that explains everything. Much appreciated! |
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