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View Pip and/or Cash Profits Per Currency Pair Discussion
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Member Since Aug 31, 2009 131 posts
Fulltime247
Sep 02 2009 at 17:40
Can we get a graph that views Pip and/or Cash Profits Per Pair for a user determined time period? (default the current month) - This is a piggyback of a current suggestion (and one I sent via Report A Bug..) - I would LOVE to see a simple bar graph that shows each pair traded and the profit/loss in pips (with the option of viewing in cash also) - This way it would be simple to spot under-performing pairs and weed them out visually (with negative cash/pips showing a red bar. Green? for positive pips). - Ideally I would like to be able to run a demo with EVERY currency pair traded by my broker and slowly weed out the worst pairs.
It ain't easy being Cheesy! |
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Member Since Jul 31, 2009 1049 posts
Ethan (Staff)
Sep 02 2009 at 21:07
Indeed there was a similar request,
Thank you for the suggestion. Got a question? Need help? Send me a message! |
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Member Since Aug 17, 2009 24 posts
allanneagle
Sep 04 2009 at 16:16
A pip graph is a great idea, but I am not sure how accurate it could be. Consider this scenario ...
I place a buy order, the market goes up 50pips before my order is closed. I have earned 50pips right? Nope. I can have it show that I have earned 150pips. At 10pips I close 1/5th of the order giving a 10pip profit. At 20pips I close another 1/5th giving me extra 20pips (plus the previous 10pips for a total so far of 30pips) Do this every 10pips and that 50pip movement netted you 150pips. Now there is nothing wrong with trading that way, but from an investors point of view would you go for the trader who earned 50pips or 150pips? Of course the answer is neither because you go with the trader that consistently earns a percentage return on your investment and pips don't actually count. But from a personal stand point, knowing I action full trades all the time, pip information is very relevant. |
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Member Since Aug 31, 2009 131 posts
Fulltime247
Sep 04 2009 at 19:29
(edited Sep 04 2009 at 19:39 )
Allan I understand your scenario. Most people DON'T scale into and out of trades but it doesnt matter because the pipcount will still be correct in MT4. I calculate my acceptable risk and adjust the lotsize before making the order but even for your situation a simple pip graph works because each piece of the trade will register the correct pip profit/loss.
Example: BUY 3 Lots.. 1) Sell 1 Lot at 20 pips - (+20 pips) 2) Sell 1 Lot at 20 pips further - (+40 pips) 3) Sell remains Lot 20 pips further - (+60 pips) Total Pip Profit = +120 pips. - Each sold partial lot is listed as a separate trade with the same OpenPrice. I actually dont see the problem (at least with MT4 since partial sales are listed in the account history as separate trades) - The account history doesnt care if the sale was a new order or a piece of an existing order. I also dont have a problem with it being listed as 3 trades even though in your mind its 1? trade. Since each partial trade becomes independent once broken from the main trade (and can have its own outcome) I think it should be counted as 3 separate actions. It ain't easy being Cheesy! |
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