Alan Faris
 Member
 Posts: 38
Joined: 10/11/2012
Location: Los Angeles, CA
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Traders change the way they trade all the time because what they were doing is no longer working.
Successful traders keep records of what they did and why.
What I'm proposing makes the big picture of your trading easier to understand, facilitates changing trading approaches, and keeps track of how and why.
Through out this post I use the word approaches to reference all the systems, symbols and relevant trading parameters used in a simulation (formally an account).
I propose a new table be added between the flow chart and the current account table. The current account table would be renamed "Simulations" preserving the simulation performance data. It is also the resource the trader would turn to when changing the trading account approach.
The new table would be named "Trading Accounts". These accounts reflect how I think most people organize their trading. The columns in the table would be the same as the columns in the present account table. Clicking a trading account would display the accounts equity chart. If you then click the settings button that would brings up the tabbed Settings window with a few new entries:
-- Account Nickname: Stock, ETF, IRA, Paper... (goes into account column)
-- File Name: must be unique and entered at account creation
-- GarWood/IB/MB Account#: Uxxxx The trade processor will automatically change to this number (several accounts can be alive at same time)
-- Money added/removed from account, Date of move
-- Change trading to approach [drop down box of simulation names]
-- Approach transition: Fast (close all first) Gentle (let current trades play out)
-- User Memo: why I made this change
Pressing the Save button creates a new line in the database "File Name"
The background for the equity curve of a trading account will alternate between two colors/densities whenever a change is made. Running the cursor over the curve you can see the most important change parameters listed in the tool tips below the cursor, clicking the mouse on the curve would bring up the entire event as a tabbed settings window that you can view but not change.
These ideas reflect my trading approach I'm positive that other traders have additions that would make this section of of OmniVest both stronger and easier to use.
Alan Faris
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Steve2
 Elite
     Posts: 750
Joined: 10/11/2012
Location: Annapolis, MD
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Alan,
I think that having a clear separation between simulations and trading accounts is good. Being able to easily switch trading approaches by selecting a new simulation is great. It saves one from having to manually recreate account settings and portfolio configurations when it's time to switch to a new approach. And keeping detailed history of what has been changed in a trading account correlated with results makes it easy to understand the effects of changes. The current account log does track these changes but (a) only displays the recent history and (b) leaves the user to manually map changes back to results.
I'm not sure I understand the purpose of "File Name". It seems like this should just be the "Trading Account Name". There is one per trading account, it must be unique, and is set when the trading account is created.
I assume that trading history would also be displayed when a row in this table is selected.
I would like to see TP related changes tracked as well. Changes in trading submission windows, delay opening orders, order submission types, stops, etc. I'd also like to see the trade history capture:
- Slippage (difference between OV entry/exit and actual entry/exit prices
- Gaps (difference between previous trading days close and OV entry/exit price
- Ten day average trading volume (previous 10 days) vs volume on the day of the trade.
These are all things I track manually in spreadsheets today.
Finally, it would be useful if Nirvana could provide some insight into the scale and time frame of future OV enhancements. What you are proposing and what I proposed in a different thread would require some significant development effort which I don't think Nirvana is able to do today with the focus on OmniFunds. It would be nice to understand the plan for OV and when would be the best time to provide user input into future enhancements.
Steve
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