Support Board
Date/Time: Tue, 26 Nov 2024 16:19:09 +0000
Theoretical average price using Theoretical not 'Actual' Profit & Loss in the Trade Window
View Count: 387
| [2023-11-09 10:54:19] |
| J DIDDY - Posts: 130 |
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It seems that 'Theoretical average price' shows a 'Theoretical P&L' in the trade window too - because when trading a virtual prop firm the (Actual) P&L is closer to the 'Flat to flat' average price calculation... (Unless I'm doing something wrong) Is this how its supposed to be? If so, what is the benefit of using Theoretical average price (other than for vanity on the DOM), other than your entry price moving far away from actual price as you add/remove positions in your trade but not having the benefit of an actual/correct P&L to match - as it seems the 'Flat to flat' average position is the one in actual use still for actual P&L on the prop firms app...??? I had understood that 'Theoretical average price' would also recalculate your 'ACTUAL' P&L so that as your average position moved away from the current price (which is a huge benefit obviously) - then your 'Actual' P&L would therefore decrease, spreading out your current profit between the extended distance between your new theoretical entry position and the current price. Is there is a way to do this? please let me know! Please clarify... Thanks Date Time Of Last Edit: 2023-11-09 11:08:01
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| [2023-11-09 13:32:36] |
| Sierra_Chart Engineering - Posts: 17182 |
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We do not understand this: shows a 'Theoretical P&L' in the trade window too
What exactly are you referring to? Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-11-09 18:59:50] |
| J DIDDY - Posts: 130 |
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I mean that the 'profit and loss' (P&L) in the trade window (with theoretical ave position setting) is not the same as the 'actual' profit and loss that is accrued by the prop firm once the trade has ended. It seems to be a theoretical P&L based on the theoretical ave position setting BUT does not match the actual real total in reality. I also did a test for this, I set up the Trade window with 'Theoretical', and the corresponding chart with Flat to flat, as I wanted to see where my flat to flat average position was during the theoretical position trade on the DOM. The trade window shows a different P&L to the chart's trade positions P&L. It seems that even if you have the theoretical ave price applied to the trade window, you will see a theoretical P&L there.... BUT the 'actual' P&L results are more in kin with the Flat to Flat average price, shown on the chart's trade positions indicator and the prop firms final total. |
| [2023-11-09 19:03:52] |
| Sierra_Chart Engineering - Posts: 17182 |
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What profit and loss value are you referring to? The Open Position Profit/Loss or the Daily Profit/Loss? We do not know. In any case, simply do not use this Theoretical average position price if it does not do what you want. We are not going to comment on this or take any time on this at all. The only point we want to make is that the Daily Profit/Loss it is not affected by the Open Position Average Price setting. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2023-11-09 19:22:46
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| [2023-11-09 21:11:17] |
| Rui S - Posts: 190 |
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J DIDDY, As the name indicates, the "Theoretical Position Average Price" is the theoretical average price of an open position after scaling in and out parts of that position. It takes in consideration all the partial profits and/or losses you had on that position since open until it is closed. This is one of the greatest, invaluable features that Sierra Chart has. Please read the instructions and test properly the features before making non sense comments like those you wrote above. Trading Information Windows: Use Theoretical Open Position Average Price Date Time Of Last Edit: 2023-11-09 21:11:40
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| [2023-11-09 21:57:43] |
| J DIDDY - Posts: 130 |
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Dear Sierra_Chart Engineering Please see the attached jpg... I have the DOM/trade window set to theoretical ave pos I have the corresponding chart set to Flat to Flat ave pos ...and as you can see the P/L in the pink circles in the DOM/trade window are different to the P/L in the green circle on the chart after I have scaled out of positions in a trade in sim as an example for you. My prop firm's P/L always seems to match the charts "Flat to Flat' ave position totals - EVEN WHEN I have my DOM/Trade window set to Theoretical Ave position. That was the issue. If you can be bothered to 'take any time on this and comment'... ____________ BTW, Serious bad attitude for a support rep (QUOTE "We are not going to comment on this or take any time on this at all") to a legitimate issue I have about your software! I've seen this reply many times to a legit issue from other users too. I shall be sharing your post on The Pit Discord channel with the thousands of other traders some of whom use SC too. |
Private File |
| [2023-11-09 21:59:44] |
| J DIDDY - Posts: 130 |
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Rui S You are nonsense! Re-read my posts properly before making foolish replies! |
| [2023-11-10 03:40:21] |
| Sierra_Chart Engineering - Posts: 17182 |
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Please do share this 10,000 times. It does not influence our support policies: BTW, Serious bad attitude for a support rep (QUOTE "We are not going to comment on this or take any time on this at all") to a legitimate issue I have about your software! I've seen this reply many times to a legit issue from other users too. I shall be sharing your post on The Pit Discord channel with the thousands of other traders some of whom use SC too.
Please share the post again and again and again including this post. Please please please. We do not provide support for this theoretical average price. We do not want to be burdened with it. We added this because someone requested it, but we are not going to help with it beyond referring to the documentation of how it is calculated which we assume you have seen: Trading Information Windows: How Average Price for Positions Is Calculated and Used And also for how the Open Position Profit/Loss is calculated, refer to: Basic Trading and the Trade Window: Main/C >> Open Profit/Loss (P/L) We also took the time now to validate that the open position profit loss is calculated correctly based upon the symbol being traded, the quantity being traded and the current price and the average price as it is calculated. It is correct. This matter is closed. Any further questions about this are just not within the scope of our support. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2023-11-10 03:53:47
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| [2023-11-10 03:49:28] |
| Sierra_Chart Engineering - Posts: 17182 |
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These types of questions in regards to the theoretical average price calculation method are just simply not within the scope of our support: Is this how its supposed to be?
If so, what is the benefit of using Theoretical average price Please accept that. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-11-10 09:02:27] |
| J DIDDY - Posts: 130 |
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Duh, it was a simple question regarding how exactly the thing works! There is no explanation on here about what exactly the theoretical average price does in laymans terms, only a mathematical equation regarding HOW it does it, which is useless to everyone except those boffins who wrote it.... These types of support responses are just simply not worth the subscription price... Please accept that! Date Time Of Last Edit: 2023-11-10 09:06:25
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| [2023-11-10 11:54:28] |
| Rui S - Posts: 190 |
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We also took the time now to validate that the open position profit loss is calculated correctly based upon the symbol being traded, the quantity being traded and the current price and the average price as it is calculated. It is correct.
I have been using the "Theoretical Position Average Price" feature on a daily basis for years now. It works flawlessly in any market conditions!! For those that don't need it, don't like it or simply are not capable of understanding how great it is, there are a few more options to choose from. |
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