Account currency

[Big River Man]

Looks the goods

Sent from Uranus

[WillT]

http://www.forexsignals.com/forum/showthread.php/487-Currency-Suggestion?p=15675#post15675

Please have a look at this upcoming feature chaps. Worked as quick as I could to bring this up.

[ColdHypno]

Would be great to see a feature to automatically adjust in ST.

For now the way I remember it is you need to put [yourcurrency][mastercurrency] rate in. So if your account is for example, USD and the master is EUR, you will need to put in the USDEUR rate.

[Big River Man]

So Friggin happy Nick has finally acknowledged this!!!!

Sent from Uranus

[RogerM]

Yes Nick,

And just to add, although it's probably obvious, you don't need to do the lot calculation at all, since 1.33 is the Eur/USD exchange rate atm and 1/1.33 or 0.75 is the reciprocal.

Roger

[Nick]

I've done some work on this today in an attempt to reach a resolution.

It appears my initial assumption was incorrect and the differing value between base currencies plays a significant part in setting risk.

1 Lot traded on a Master Account in EUR = 7.48 per pip
1 Lot traded on a Follower Account in USD = 10 per pip

10/7.48 = 1.33

Therefor a follower account on a risk multiplier of 1 is actually taking 1.33x the risk of the master account due to the differing base currencies.

We're presently working out the best way to deal with this discrepancy. In the meantime please be mindful of this calculation when setting up your signals.

[Smokey]

Scary.. if an unknowingly newcomer with an AUD account is following a GBP account with a 1.0 multiplier hes actually running with ~80% more risk than the master.
1.0 multiplier should be 1:1 risk with the master if you ask me.

slightly offtopic:
fxbook messes with this even more with their autotrade; believe it or not, they bring the leverage of the slave in the calculation.
So with the master at 1:100 leverage and you have 1:500 leverage on your account you run at 5x risk with 1.0 multiplier.
Because "people with a high leverage setting on their account want to take high risk".

It's not a bug, it's a feature!

[VictorTous]

So I was right after all... Thanks for your clarification BRM... Good luck! ;-)

Yeah man I'm with Cold. Nick said he would look into it in an earlier post on day fox thread.
I ran a test to compare day fox master trades to mine to compare the % with my setting risk @ .72
However the master account has all of it closed trades hidden, so I can't compare the % difference, however I believe this is right. That is the risk that I am setting from now on

MINE:MASTER = AUDEUR = 1/1.445 = 0.69 (this week) - will change the risk every 2 weeks as the exchange rate changes, same as I do for the USD master signals.

Hopefully this helps.

[Big River Man]

Yeah man I'm with Cold. Nick said he would look into it in an earlier post on day fox thread.
I ran a test to compare day fox master trades to mine to compare the % with my setting risk @ .72
However the master account has all of it closed trades hidden, so I can't compare the % difference, however I believe this is right. That is the risk that I am setting from now on

MINE:MASTER = AUDEUR = 1/1.445 = 0.69 (this week) - will change the risk every 2 weeks as the exchange rate changes, same as I do for the USD master signals.

Hopefully this helps.

[VictorTous]

Hey BigRiverMan... I would still like your input/feedback regarding my last post ... Cheers!

[ColdHypno]

The way I think of it is that, to keep 1:1 parity with a USD master account (mine being GBP). I need to enter the GBPUSD rate into the risk multiplier. So for a EUR master, I'd have to enter the GBPEUR rate.

Whichever the combo, your account needs to be the first currency, then the master as the second currency. That rate is the rate you need in the risk box.

Also, this used to be in the ST user manual, but has now been taken out, wondering if Will can take a look at it?

[VictorTous]

BRM,

According to your logic and what you said previously, in order to have equal 1x risk with your personal AUD account:

If the master is in USD, you choose 0.93x risk because 1AUD = 0.93USD
... and:
If the master is in EUR, you would need to chose 0.69x risk because 1AUD = 0.69EUR (more expensive than USD).
... but you're telling me the contrary.

Also, if Pianetti have his account in EUR, and while following a master in USD he was getting less percentage gains having it at 1x risk, it would mean he needs to increase the risk to 1.34 because 1EUR = 1.34USD (as it has been stated and agreed both by you and Pearcy)... So if the master was in EUR and the follower one in USD, the risk would need to be 0.75 because 1USD = 0.75EUR.

And you are telling me just the opposite with your AUD example.

"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"
That is right.

"If I were to copy a EUR master then I would use risk = 1.49 --> EA is now 1.4920"
That's wrong.

"So in your case Pianetti you should use risk = 1.38 --> (because EU is 1.3833 now)"
That's right because his personal account is in EUR and the master in USD. But if his personal account was in USD and the master in EUR, it would need to be 0.75x. The same as your account being in AUD, it would need to be at 0.69x in order to follow an EUR master with 100% risk.

What am I missing?

When I want 100% risk I use 1.49 for a Euro master on my AUD account.

Sent from Uranus

[Big River Man]

When I want 100% risk I use 1.49 for a Euro master on my AUD account.

Sent from Uranus

[Isochronous]

I'm wondering if I should convert all accounts to CHF since the Swiss Franc is probably the only currency that isn't debased like all the other fiat toilet paper moneys.

[timo]

On the topic of account currency, it would be wunderbar if there was a currency 'helper' in the signal risk tab page.

It would be good if there were 2 currency drop downs, so you could select both:
- signal account base currency
- my account base currency

As the risk multipler assumes both signal and trader accounts are in USD.

But it would be nice to have some sort of calculator as a guide only, to help us calculate risk if the trader account is in EUR and my account is in AUD for example.

Will - is this something on the roadmap?

( after cTrader of course though )