OmniVest User Forums
General Discussion Topics
Account Settings and Elite Portfolios
28 replies, 3743 viewings
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OmniVest User Forums
General Discussion Topics
Account Settings and Elite Portfolios
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Last Activity 4/15/2019 7:43 PM 28 replies, 3743 viewings |
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Bruce Britt Regular  Posts: 81 Joined: 10/11/2012 Location: Louisiana  User Profile |
As I understand it, when 4 separate MOO orders for 100 shares of XYZ are sent at the same time by TP to IB, then you are charged $1.00 for each order, or an effective commission of about $4.00 to purchase 400 shares of XYZ. That same trade - if consolidated into 1 order - would cost about $1.00. Not very significant for large accounts, but would be significant for small accounts using this type of portfolio. This makes me wonder if there could be a viable way for N to have TP covert (bundle) those multiple orders for same symbol into 1 order. This could significantly improve performance over time for small accounts. Does anyone know if this has been considered? UPDATE: Looks like I may be mistaken on this. After posting the above, I looked more closely at another live account statement and it appears that multiple orders for same symbol ARE consolidated, so only 1 broker commission applies to all simultaneous orders for same symbol. Sorry for the confusion. Maybe someone can comment on how the OV Simulator handles the commission for multiple orders of same symbol. -Bruce [Edited by Bruce Britt on 7/8/2017 5:08 PM] | ||
| Buffalo Bill Member Posts: 28 Joined: 1/2/2015 Location: Stafford, VA User Profile |
Happy Sunday attached is a screenshot that should clarify what I was talking about re 2X trade multiplier. Also has last 100 historical trades, which only 1 goes over 20% of equity (and that one is odd - it is the same exact trade listed 3 times) As to re-setting the starting acct balance i have not found a way to fix it. Bugging me! The link explains how to connect TP and broker, and there it is fine.  Attached file : Trade Mult.jpg (797KB - 270 downloads) | ||
| Mark Holstius Elite   Posts: 744 Joined: 10/11/2012 Location: Sleepy Hollow, IL User Profile |
As much as I’d like you to be a subscriber, I need to point out that your plan to increase the Trade Multiplier to 200 (2X) appears to be a curve fit that can expose you to some pretty hefty (risky?) trades. Especially if you keep the settings that allow 5 positions in the same symbol at the same time. (5 X 20% = 100% of equity) One of the primary features of my portfolio is an attempt to decrease the risk of any one symbol going against us through the use of smaller trade sizes (diversification thru many small trades & low Avg % Invested). You may have done this before the snag you posted, but I’d also suggest that you limit it to one portfolio while you’re doing your testing and comparisons. Using 2 portfolios at the same time can be good once you’ve decided that they both fit your needs, but the mix can definitely make any evaluation difficult - especially with large trade sizes (20%) that can use up your equity. I hope you don’t mind my posting a review of the screen capture you attached, but I think others can benefit from the information too… You highlighted an instance of 3 trades in the same symbol in red, but I need to point out that there are 11 more instances of multiple trades occurring in the same symbol at the same time in that snag. I’ve highlighted them in blue - and those are only the ones generated by my portfolio. There are a few more if you include the additional portfolio you have in the account. I’ll be posting additional stats and info later this week concerning the reasons why multiple trades help in my portfolio. You also asked about re-setting the account balance, so I’ll include a snag illustrating a way to accomplish that; Thanks for your input - I hope we can come up with a solution that helps everyone trading with account sizes that are disproportionately affected by commissions, especially in IRAs without the benefit of margin. BTW - I highly recommend that you (everyone?) investigate using IB with Gar Wood on Nirvana’s servers. Their commission schedule will help, and their use of “margin” to avoid the 3 day rule in IRAs is a huge benefit - to say nothing of the ease of use via the trade processor in OV. Hope this helps, Mark [Edited by Mark Holstius on 7/9/2017 8:19 PM] Attached file : 01 Trade Mult.png (2333KB - 396 downloads) Attached file : 02 Reset Account Balance.png (222KB - 407 downloads) | ||
| Buffalo Bill Member Posts: 28 Joined: 1/2/2015 Location: Stafford, VA User Profile |
Thank you again for your time here. I am actually on my way to Beijing, over russia, and will reply more fully in a couple of days. 2 things - I will have my acct into margin status in about a week or so and only plan on trading your portfolio after that. Both of those will help the issues you highlight. I appreciate the community here and your time |
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