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Is it possible to build a risk reward analysis screen/calculator in RE for open/opening positions?

Posted By Saxo 7 Years Ago

Is it possible to build a risk reward analysis screen/calculator in RE...

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Posted Saturday February 20 2010

I have found this tool http://www.marginaccountcalc.com that has a special section http://www.marginaccountcalc.com/#risk1 that I was wondering if it was possible to implement in RE (for screenshot see http://www.marginaccountcalc.com/screens7large.html). It is especially the:

-          Open Risk

-          Open Risk (%)

-          Account Open Risk

-          Account Open Risk (%)

- that I’m interested in for stocks and futures. I’m an IB customer but I was told that IB TWS does not have the functionality to so open risk per position (difference between current price and price on stop order). IB told me that I could request this functionality – but perhaps it is faster to build it in RE?

Furthermore I would like to be able to input my orders manually via RE. When I input an order I always want to place:

-          Order for profit target (fixed target)

-          An order (marked or limit) for actually opening the position

-          A stop order (trailing or fixed amount)

Based on account balance and parameter stating how much I’m willing to risk on the trade (e.g. 0.5% of account balance) it will calculate the nominal for the order (which it can do if I type in the stop order at the same time). So I imagine some sort of popup where I can type in the 3 orders mentioned above & the risk percentage and get the risk/reward ratio along this the nominal before I place the order. Is this possible?

Finally, I want to know how easily I can manually adjust the profit target order and stop order within RE once a position has been initiated (i.e. move profit target up/down)?

PS: I not (yet) a RE customer - although I tried out the free demo some time ago (and I liked what i saw).


Edited: Saturday February 20 2010 by Saxo
Posted Monday February 22 2010
The calculations could be implemented, what is not available is all of the discretionary trading features you require. RightEdge is really designed to be automated. We put in some basic discretionary features as an emergency exit, if you will. We may beef them up later to support profit targets, stop losses, etc, but that is not available at this time.
phg
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Posted Tuesday February 23 2010
I would like to follow up on this, for my edification. As I understand things, this is entirely feasible through user programming. The discretionary part requires a user GUI, which can be implemented on a separate thread started at system strartup. I think all of the data points that go into the calculations are already available. That is, assuming the user does the programming to provide the GUI, on a separate thread presumably, and the bi-lateral communications with the main (RE strategy) thread, this scenario seems quite feasible?

I have been working, semi-diligently, on a similar capability on the Yahoo group, where some of the communications mechanisms might be applicable to this situation. I have been slowed by my crawling up the learning curve, but interestingly in the end the amount of code is not much at all. That is, settling on the design pattern takes some thinking, but after that the amount of code is not daunting. I was considerably helped by advice from Bill and Daniel and it looks to me like getting good advice in the present situation would also make this case very user doable. That is, RE is a fine base for building the kind of operation contemplated here.

-Pete

See also Yahoo group about applying RE.



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