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VO-Pro: Comprehensive visual order management system for MT4

  • #641
  • Mar 5, 2012 10:43am Mar 5, 2012 10:43am
Quick search couldn't find an answer, thus the question is:

Does VO-Pro include commission in the Trade Risk calculation?

Thanks,
bwa
  • #642
  • Mar 5, 2012 12:47pm Mar 5, 2012 12:47pm
Quoting bwa
Does VO-Pro include commission in the Trade Risk calculation?
bwa,

No. It can factor spread (if 'Adjust for spread' is checked on), but NOT commissions. The reason is that different br0kers can potentially calculate commission in different ways.

Also, neither swaps nor commissions are displayed/totaled in VOConsole's Orders List window.

David
  • #643
  • Mar 5, 2012 12:51pm Mar 5, 2012 12:51pm
I have added a 'Links to helpful posts' section to post #1.
  • #644
  • Mar 6, 2012 9:01am Mar 6, 2012 9:01am
david,

I had missed that "free trade" module before. I would actually calculate it via a spreadsheet.

Always finding something new in your great system. And it does it for multiple trades.

Outstanding.

Brian
  • #645
  • Mar 6, 2012 9:35pm Mar 6, 2012 9:35pm
Quoting flyer415
david,

I had missed that "free trade" module before. I would actually calculate it via a spreadsheet.

Always finding something new in your great system. And it does it for multiple trades.

Outstanding.

Brian
Brian,

It's gratifying to know that somebody has found a use for the 'free ride' facility. I can't take the credit for the idea, however — it was suggested to me by a trader/programmer friend.

All the best,
David
  • #646
  • Apr 14, 2012 2:34pm Apr 14, 2012 2:34pm
I am answering the question posted here.

Devisen,

VO-Pro is a commercial product. You are running the trial version, which limits the risk to any one of: $200, 2 full lots, or 20% of equity.

When you buy the product (the price is US$69), these limitations are removed. You can enter anything you wish. For purchase information, please see this post and also post #1 for general info.

David
  • #647
  • May 9, 2012 8:19am May 9, 2012 8:19am
Hi David,

I am testing your excellent order management system and have come up with something I don't understand.

As you can see from the attached images, when the value of a trade goes above 1000.00 (Euro in this case) , the overview Profit/Loss field shows as 1.00

I have seen this happen on two different currency pairs, so it is not just limited to the EURJPY pair shown in my screen shots.

Am I doing something wrong here maybe?

Thanks for the brilliant programming, I will be a customer very soon.

Best regards,
Attached Image(s) (click to enlarge)
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  • #648
  • May 9, 2012 9:40pm May 9, 2012 9:40pm
Quoting macman
Hi David,

I am testing your excellent order management system and have come up with something I don't understand.

As you can see from the attached images, when the value of a trade goes above 1000.00 (Euro in this case) , the overview Profit/Loss field shows as 1.00

I have seen this happen on two different currency pairs, so it is not just limited to the EURJPY pair shown in my screen shots.

Am I doing something wrong here maybe?

Thanks for the brilliant programming, I will be a customer very soon.

Best regards,
Mac,

Many thanks for pointing this out. Version 2.32 fixes this bug (VOConsole was interpreting the thousands-separating comma as a field terminator). It can now be downloaded from post #1.

David
  • #649
  • May 19, 2012 9:37pm May 19, 2012 9:37pm
David,

I see in the your youtube videos that you have Bid/Ask as yellow lines. What indicator does this come from?

Thank you,
charlie
  • #650
  • May 20, 2012 3:35pm May 20, 2012 3:35pm
Quoting charlieanee
David,

I see in the your youtube videos that you have Bid/Ask as yellow lines. What indicator does this come from?

Thank you,
charlie
Hi Charlie,

The indicator is called "Bid Ask line" and can be downloaded from post #1 in this thread.

David
  • #651
  • May 21, 2012 8:40am May 21, 2012 8:40am
Quoting hanover
The indicator is called "Bid Ask line" and can be downloaded from post #1 in this thread.
MT4 can do this natively. It's the first thing I turn on when I set up a template.

Press F8.

(Optional) in the Colors tab, set the Ask line colour to be the same as the Grid colour.

In the Common tab, tick beside Show Ask line.

You end up with something like this (attachment).

HTH.

Tony
Attached Image
  • #652
  • May 22, 2012 5:01am May 22, 2012 5:01am
Quoting idempotent
MT4 can do this natively. It's the first thing I turn on when I set up a template.
Tony, thanks for taking the time to reply.

I like to turn all MT4's horizontal lines (bid/ask price, entry/TP/SL levels) off as I tend to confuse them with the S/R line studies on my chart (as in the tangled jungle below!). I guess everybody has their own way of doing things.

All the best,
David
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  • #653
  • May 22, 2012 6:36am May 22, 2012 6:36am
Quoting hanover
... the tangled jungle below!
Aiaiaiaia my eyes!!!

Wow, that is one busy chart. If you can trade like that, then I'm happy for you. I haven't found my niche yet, but I know I'm going to have to start simpler than that :-)

Tony
  • #654
  • May 25, 2012 10:37am May 25, 2012 10:37am
This seems to be the last thing missing the manage my trades. I hope I can pick up how to work with it easily.

downloading trail

tnx
It's my price or no price at all!
  • #655
  • May 26, 2012 1:48am May 26, 2012 1:48am
I just went through all the documentation and videos and I'm already sold without having tested it. Come Monday I'll try it on the demo account of my broker.

Your videos are excellent and answered all of my questions but 1: There is an option to include spread in risk calculations but what about commissions?

Would be great if you could answer that one.

Furthermore, I think your videos are far more important to me than any user guide could ever be. I can imagine that it would be easier to make the videos as well. I would love it if you would continue these Video updates because it looks like you haven't made one since version 2.03 (Slacker ). In this case you would only need to specify the content of each video better with an index.

Well, here you go. 1 question and 1 suggestion.

Regards
It's my price or no price at all!
  • #656
  • May 26, 2012 6:58pm May 26, 2012 6:58pm
Quoting 4extool
I just went through all the documentation and videos and I'm already sold without having tested it. Come Monday I'll try it on the demo account of my broker.

Your videos are excellent and answered all of my questions but 1: There is an option to include spread in risk calculations but what about commissions?

Would be great if you could answer that one.

Furthermore, I think your videos are far more important to me than any user guide could ever be. I can imagine that it would be easier to make the videos as well. I would love it if you would...
4ex,

Thanks for trying VO, and for your kind words. The Trade Minder module should be ready mid June. Hopefully, that should make VO a much more 'complete' MT4 trading assistant.

VO can't handle commissions. Alas, there's no facility in MT4 that allows VO to access the br0ker's commission formula. Every br0ker could potentially calculate commissions in a different way.

When Trade Minder is complete, I'll provide PDFs and videos. The latter may take a while. The big drawback with videos is that every time an enhancement is made to a product, the whole video needs to be re-recorded, edited, published, etc. Whereas with a written manual it's usually just a case of adding a paragraph or two.

David
  • #657
  • May 26, 2012 10:56pm May 26, 2012 10:56pm
Hi David,

TNX for your quick reply.

I might have underestimated the production of videos.


Quoting hanover
4ex,
VO can't handle commissions. Alas, there's no facility in MT4 that allows VO to access the br0ker's commission formula. Every br0ker could potentially calculate commissions in a different way.
David
I pay $7 per lot per round trip. This is a fixed number and only changes in relation to my lot size, where a mini lot would cost me $0.70 and a micro $0.07.


I can enter the total of my trading capital manually. MT4 doesn't know what my trading capital is but VO can still calculate a risk percentage. Why couldn't there be a way to manual enter these commission numbers? Seeing what VO can already do, this should be a very simple task :nerd: Hahaha, if I'm wrong, be kind because I have no clue about programming.

Regards
It's my price or no price at all!
  • #658
  • May 27, 2012 4:55pm May 27, 2012 4:55pm
Quoting 4extool
MT4 doesn't know what my trading capital is but VO can still calculate a risk percentage. Why couldn't there be a way to manual enter these commission numbers? Seeing what VO can already do, this should be a very simple task :nerd: Hahaha, if I'm wrong, be kind because I have no clue about programming.
Hi,

Actually, MT4 does know what your trading capital is. It maintains three different values: balance, equity and free margin, all of which are accessible to any EA.

I will see what I can do about manually entering commission values. And possibly also swaps. However, if a br0ker charges different commission rates on different pairs, metals etc then you'd potentially need to enter a different rate each time you place an order.

David
  • #659
  • May 27, 2012 5:14pm May 27, 2012 5:14pm
Quoting hanover
Hi,

Actually, MT4 does know what your trading capital is. It maintains three different values: balance, equity and free margin, all of which are accessible to any EA.

I will see what I can do about manually entering commission values. And possibly also swaps. However, if a br0ker charges different commission rates on different pairs, metals etc then you'd potentially need to enter a different rate each time you place an order.

David
Yes, but I don't have all of my trading capital in my brokers trading account. So the only way that VO can make that calculation is when I feed it: B + amount. Something you so perfectly explained in your video "advanced settings." That's what I meant with MT4 not knowing what my trading capital is without my manual input.

I understand your point about different commissions. However, I'm happy you're considering this option.
It's my price or no price at all!
  • #660
  • Edited 11:27pm May 28, 2012 11:07pm | Edited 11:27pm
VO-Pro v2.33 can now be downloaded from post #1.

The following enhancements are available in v2.33:

1. VO-Pro is now capable of factoring commissions, swaps and other costs into its position sizing, risk and return calculations.

You can enter a either a pip, or dollar value, of any commission, swap or other transaction cost, per full lot, per roundtrip trade, into the Extra Costs field in VOConsole, as shown in the attached screenshot.

 

  1. To enter a value in pips, simply type a number.
  2. To enter a dollar value (or whatever currency your account is denominated in), type a number along with a dollar sign anywhere in the field. For example, if your br0ker charges $7 commission per full lot, on a roundtrip trade, type $7 into the field.

This value will be used in any position sizing, risk, return and RR calculations when creating, modifying, or partially closing orders. You can see the effect by attaching 'VO Create New Order' to a chart, and then tinkering with this value.

Note: If your br0ker charges different rates for different currencies, metals etc, then you'll need to manually adjust this value each time you place an order. Or you could set up a different preset for each currency.


2. The trial version now allows the TradeRisk value to be split into multiple component orders, just as in the paid-for version.

You are still restricted to 2 full lots, $200 or 20% of equity in the trial version. However, typing (for example) $200,1,2,3 will now allow a total risk of $200 to be split in the ratio of 1:2:3, and three component orders created, in both the trial and paid-for versions.

David

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