Setting up Wealth-Lab for Forex analysis
Author: alex arzh
Creation Date: 1/27/2012 6:56 AM
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alex arzh

#1
Hi guru, help me please.

My questions are:
1. Market manager. open time 0;00:00 close time 23:59:59?
2. Symbol info manager (Symbol = GBPUSD, Type = Future, Margin = 10, Point Value = 1000, Tick = 0.0001, Decimals = 4?
3. Preferences: no comission, no slippage and round lots?
Something else?
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Cone

#2
No Fx gurus here, just stocks and futures...

1. Which data provider are you using?

2. It's hard for me to switch from futures to fx for some reason. The futures point value for 6B on GLOBEX is $100000, and the margin is on the order $2000. For example, 1 contract changes in value $1000 from 1.5500 to 1.5600. You have to apply the scaling that you'd use for Fx sizing. I think you'd set margin to 1 (cash position), but the rest would be identical to futures.

3. Up to you. For Fx, you should charge a minimum of 1 or 2 pips/ticks of commission to account for cost of the spread.
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alex arzh

#3
Cone, high.

Thank you for your answer.

1. I am using finam static and streaming provider. (as i understood - moscow time)
2. Contract - 100000 GBP, price - 1.5780, 1 tick - 0.0001 (the point value for GBPUSD on Forex is $100000 (as i undestood your approach: change in value $1000 from 1.5700 to 1.5800, each tick is worth $10) and the margin is on the order from 1000 to 100000.) Is it right?
3. Ok.

Wealt-lab help

Point Value

In Wealth-Lab, the Point Value is amount of profit/loss generated by one contract for a one dollar change in price. For example, assume that you have a long Position in cotton for 1 contract. Since the Point Value of cotton is $50,000, your Position will gain $50,000 profit for every one dollar increase in the price of cotton. Since cotton currently trades in the $1 to $2, every 0.01 change in a bushel of cotton is worth $500.

4. What does "one contract for a one dollar change in price" means on Forex? (from 1.5700 to 2.5700 or something else?)
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