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From what I understand if your account is in euro and the signal is in dollar, while using 1x it should give you more profit equal to the difference in exchange rate while the number of pips should be the same
But it seems your case is the complete opposite of that
Please post some examples from your account and the corresponding trades from the signal account to understand
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Your lot is 0.02 while the signal is 0.07
So your profit should be equal to = signal profit x (2/7)
That in case the pips gained are exactly the same
Your numbers are correct, I don't see anything wrong
Sent from my GT-N7000 using TapatalkLast edited by Okda; 04-26-2014, 08:31 PM.Comment
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If you have an account in another currency than the one the signal is in, you need to adjust the risk setting. For example, a GBP account following a signal from a USD account will need to set risk to 1.68 to get the same risk. Risk of 1 would be less.
This is explained better in the simpletrader user guide.Comment
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His complain is that he gets fewer profit while he gets more pips
The problem is that he doesn't count the lot size difference in his calculations
Sent from my GT-N7000 using TapatalkLast edited by Okda; 04-27-2014, 12:36 AM.Comment
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No he was talking about % profit not $ profit. If using 1x risk, for the same pips, % profit should be the same as the master regardless of account currency
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Ah, then this might be that he is using available equity for his risk management not account balance. Right?
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Thats a bit harsh isn't it!Originally posted by Okda View Post
I thought we are all here to help each other and discuss things in a grown up way, I don't see wishing someone to lose all their money is a good contribution to this thread or is in the spirit of helping each other.
I have nothing against you Okda in fact I think you are a great guy, but this kind of talk isn't very productive.Comment
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It shouldn't make a difference at 1x unless there are multiple signals running on the account. If that's the case then the results will rarely be exactly the sameOriginally posted by Okda View PostComment
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You do the one thing you do best on these forums, posting on every forum replying to every thing as if you are all knowing about everything and know how to solve everyone's problems.Originally posted by Okda View Post
Although I'm sure it's all in good intentions but your postings are like me "annoying."
Thanks For the best wishes!!!Comment
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Hi pearcey2,
What you're saying would be true *if* SimpleTrader included an account currency ratio in its slave account lot size calculation (as do other signal services like mql5 and myfxbook autotrade). But it doesn't do that. Subscribers have to adjust their risk factor accordingly when the slave and master accounts have different currencies. See the following note from the ST wiki (https://www.simpletrader.net/wiki.php?do=view&id=18):
"Note Risk Multiplier considers the balances as unit amounts not by currency therefore if your Master and Slave are different currencies you need factor this in to the calculation."
You can see why an adjustment in risk factor is required when considering the following example:
Master account $10,000 USD
Subscriber account is 10,000 EUR with risk = 1
Lets assume the master enters an AUD/USD trade at 0.5 lots. With a risk factor of 1, ST will calculate a matching lot size of 0.5 lots given the same account balance (in unit amounts.). Assume the trade closes with 100 pips earned on both accounts. Trade profit in USD = 0.5 x $100,000 x 100/10,000 = $500 USD. This is a 5% gain for the master, but when converted to EUR to be credited to the sub's account, its only about 361 EUR (assuming the current rate for EUR/USD = 1.3836), or a 3.61% profit. Same account balance in units, same lot size, same pips gained, but different % gain.
For the sub get the same % gain as the master, they need to set the risk to the exchange rate of the sub/master account currencies (1.38 in the above example).
Hope this helps. Feel free to chime in anyone if you can spot a hole in my calculations ...
Originally posted by pearcey2 View PostComment
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See here.
What you want to do is replicate the EXACT same risk as the master. You can ONLY do this by making your own formula if your account is in a different currency. You can easily make this formula in Excel or Google Drive.
But as an example I have AUD account.
When I copy Trade Alerter I use risk = 1 (master is in AUD)
When I copy Smart Trader I use risk = 0.93 (master is in USD) AU = 0.9290 now
If I were to copy a EUR master then I would use risk = 1.49 --> EA is now 1.4920
So in your case Pianetti you should use risk = 1.38 --> (because EU is 1.3833 now)
You should then of course every 2 weeks or so change your risk setting, so in 2 week when the EU is down to 1.3620 you should change your risk to = 1.36
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