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August 1, 2016 at 1:00 pm #104925
JulianCohen
ParticipantScott McNab wrote:went searching after reading your post…this video was helpfulWorth noting you have to go to Account management>permissions and authorise FX currency conversions if you have not done so before.
August 1, 2016 at 1:10 pm #104158ParticipantAs there are more of us going down the MOC route I will share my testing results for the MOC Batchtrader. On US markets it works as it says on the tin, but on ASX I haven’t had any success with it. It places the initial orders and monitors them, however it doesn’t place the market orders at the set time. I have emailed Levente about this and am waiting his response.
Note that you can’t place MOC orders on the ASX so instead you have to set a time for Batchtrader to cancel all outstanding orders and issue market orders to close the open positions. I have been testing this at 15:45 but Batchtrader is not issuing the orders.
August 1, 2016 at 1:25 pm #104931LeeDanello
ParticipantIf your base currency is AUD I’m pretty sure you don’t have to convert your base currency to trade the US. You only do that to mitigate the FX movement. For short term holdings it’s probably not worth it.
August 1, 2016 at 2:18 pm #104946ParticipantMaurice Petterlin wrote:If your base currency is AUD I’m pretty sure you don’t have to convert your base currency to trade the US. You only do that to mitigate the FX movement. For short term holdings it’s probably not worth it.My base currency is SGD so I just converted some to A$ and some to US$ so I don’t have the problem again. I might just switch the base currency to US$ though…
August 1, 2016 at 8:12 pm #104159ScottMcNab
MemberIs it not best to leave base currency in the one needed for accounting/taxation purposes perhaps so that statements in same currency?
August 1, 2016 at 9:14 pm #104160Nick Radge
KeymasterIf you have a Reg-T account you shouldn’t have to transfer any funds and can keep it in any base currency you want.
Ensure you have permissions to trade the wanted markets.August 2, 2016 at 12:05 am #104947ParticipantAs I am in Singapore and pay tax there anything I am writing will not apply to the Aussie market so it’s worth mentioning that now. I should have mentioned it before.
August 2, 2016 at 12:22 am #104161ParticipantMomentum system orders successfully placed on the ASX. No need to watch that until 31st August.
Now waiting for the MOC Batchtrader payment to go through to the developer and then I can start trading the S&P.
August 2, 2016 at 7:01 am #104948Anonymous
InactiveNick Radge wrote:If you have a Reg-T account you shouldn’t have to transfer any funds and can keep it in any base currency you want.
Ensure you have permissions to trade the wanted markets.just to be sure… if my base currency is AUD and im trading in USD then its the same as if my base currency is USD? (ie: no extra lending fees)
August 2, 2016 at 8:40 am #104162KeymasterNo.
If your base currency is AUD then your base currency is AUD.
You will lend to a USD account and pay a financing fee. However, the interest earned on the AUD balance will outweigh the financing fee almost every month.
The major benefit of leaving your base currency as AUD is to negate ‘major’ currency exposure. You will still have small exposure but any realised P&L can be transferred back to AUD at any time, i.e. monthly.
August 2, 2016 at 10:27 am #104163MemberJulian…have you looked much at the largest loss stat in backtests ? When I margin the MOC system of mine this becomes daunting. I am able to reduce it by adding an intra-day stop (eg PriceAtBuy*0.9) but it would mean adding another feature to Levente’s API. What do you think ? I’m tempted to do it just to give me peace of mind to be able to trade it on margin. Guess in the end is an individual decision :huh:
August 2, 2016 at 12:23 pm #104959ParticipantScott McNab wrote:Julian…have you looked much at the largest loss stat in backtests ? When I margin the MOC system of mine this becomes daunting. I am able to reduce it by adding an intra-day stop (eg PriceAtBuy*0.9) but it would mean adding another feature to Levente’s API. What do you think ? I’m tempted to do it just to give me peace of mind to be able to trade it on margin. Guess in the end is an individual decision :huh:I haven’t looked at it Scott. Could it be daunting because over time the account size is increasing?
August 2, 2016 at 1:10 pm #104957InactiveNick Radge wrote:No.If your base currency is AUD then your base currency is AUD.
You will lend to a USD account and pay a financing fee. However, the interest earned on the AUD balance will outweigh the financing fee almost every month.
The major benefit of leaving your base currency as AUD is to negate ‘major’ currency exposure. You will still have small exposure but any realised P&L can be transferred back to AUD at any time, i.e. monthly.
ok good to know… thanks nick
August 3, 2016 at 12:47 am #104960TrentRothall
ParticipantJulian Cohen wrote:Scott McNab wrote:Julian…have you looked much at the largest loss stat in backtests ? When I margin the MOC system of mine this becomes daunting. I am able to reduce it by adding an intra-day stop (eg PriceAtBuy*0.9) but it would mean adding another feature to Levente’s API. What do you think ? I’m tempted to do it just to give me peace of mind to be able to trade it on margin. Guess in the end is an individual decision :huh:I haven’t looked at it Scott. Could it be daunting because over time the account size is increasing?
Run the test without compounding the position size ie fixed $10,000 potions. Then look at the %’s
August 3, 2016 at 2:23 am #104963ParticipantTrent Rothall wrote:Julian Cohen wrote:Scott McNab wrote:Julian…have you looked much at the largest loss stat in backtests ? When I margin the MOC system of mine this becomes daunting. I am able to reduce it by adding an intra-day stop (eg PriceAtBuy*0.9) but it would mean adding another feature to Levente’s API. What do you think ? I’m tempted to do it just to give me peace of mind to be able to trade it on margin. Guess in the end is an individual decision :huh:I haven’t looked at it Scott. Could it be daunting because over time the account size is increasing?
Run the test without compounding the position size ie fixed $10,000 potions. Then look at the %’s
Scott if I run with no compounding my biggest individual trade drawdown is 14% so I’m fine with that. One day I might get 20% or even 30% but if that happens then I’m also fine with it. It’s part of trading
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