Steve2 Elite    Posts: 750 Joined: 10/11/2012 Location: Annapolis, MD  User Profile | Hi James, The OV account setting Max % Equity is similar to the Trade Processor (TP) Max Equity trade setting. Is that your question? If so, here's how they work. In OV you have an account configuration that consists of some number of strategies (typically organized into portfolios) that you have enabled for the account. Each trading day after the market closes the strategies are run and produce a set of candidate trades. The candidate set of trades are sorted according to the "Trade selection ordered by" setting and then the remaining settings under the Exposure, Trade Selection, and Trade Sizing tabs are applied to filter out candidate trades that don't meet your desired criteria. Candidate trades that meet all of your account setting criteria will be taken up until your Max % of Equity is reached. Then any other qualifying trades will be discarded since you don't have enough equity to take them. The trade size calculation in OV is only approximate since it based on the closing price of the symbol. When the trade is submitted to the broker on the next trading day, the price may have changed (gapped up or down). In order to leave headroom for this occurrence, users typically set Max % of Equity to something less than 100% for cash accounts and something less than 200% for margin accounts. The TP needs a similar setting because it will do intelligent order submission if you have the Delay Opening Orders checkbox set. With this set, TP will submit closing orders first and then begin to submit opening orders as sufficient buying power becomes available based on when closing orders complete execution. The TP Max Equity setting is used to provide some headroom in case stock prices change quickly. OV account settings determine which trades are taken for both the simulation and live trading. The TP setting could cause some live trades to be discarded but shouldn't do that if properly set. Hope that made sense, Steve [Edited by Steve2 on 8/21/2016 6:32 AM] | |
