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account balance change for the day

 

account balance change for the day

Am I missing something, or is there nowhere, either in alveo or in the stats page on the web site, to see account balance change for the day?  I'd think dollar amount would be kind of an important piece of information.  Please tell me I'm just not seeing it.

Mon, 07/11/2016 - 12:17pm
 
FXGold54

rd;

Alveo was set-up for the focus to be on PIps and % change, that is why those 2 (Pips today and Risk Today) are colored.

Your Balance, located between equity and unrealized Pips shows your current balance notwithstanding open positions, whereas your Equity is your balance +/- open trades.

Although I can understand that you want to know how many $$ you made in a day, you really want to focus on your increasing your account % consistently. this will allow to more accurately judge your progress. For example, if I told you that Trader A averages $1k a day and Trader B averages $500 a day, you may think that Trader A is more accomplished. However, if I then told you, and all other things being equal, that Trader A has a 100K account while Trader B only has a 10K account then you would be more accurately be able to determine the more accomplished trader. (Trader A average 1% per day while Trader B averages 5% per day).

How's that for a long winded answer?

 
rd

Thanks for the reply, Allen. I understand all that. I think a trader who constantly checks his gain/loss or account balance is concentrating on the wrong thing. Concentrate on making good trades and the balance will take care of itself. But with the Beeline achievements that are about dollars instead of pips, it'd sure be helpful to be able to see a dollar amount change for the day somewhere without having to manually figure it. In the middle of trying to complete five profitable days in a row last week (now my last hurdle in silver 1), I made 11.63 pips to complete the three 10 pip days in a row achievement, and what I thought was the third profitable day in a row. But since I didn't bother manually checking the dollar amount, I learned too late that I had actually lost 17 cents on the day due to commissions, and my five profitable day streak ended. The Beeline page showed that achievement blank that evening, but I've seen some inconsistency on that thing, so I didn't think much about it. Everything was still on course as far as I knew. The next day, thinking my profitable streak was still going, I was down about 60 pips on the day (I've done some crappy trading lately) so I bumped up my position size for some "save me" trades and ended the day with about 8 bucks profit, even though I finished down about 48 pips. I thought I had pulled myself out of the fire again. It was after that when I realized my streak had ended the day before. If alveo or the stats page had shown I was down 17 cents that day, I would've kept trading and maybe kept the streak alive. It was my fault for not checking. But since it's possible to make pips one day and lose money, and lose pips the next day and make money, I think it'd be helpful if the software showed dollar amounts up or down for the day in addition to pips, if for no other reason than completing some of these Beeline achievements.

 
wbenson

Be sure to consider commissions. A one pip profit on a single trade will still result in a net dollar loss, after deducting the commission.

 
bigbubba32

RD not sure if this will be of help or not, but I was having the same or very close to the same issues, what I ended up doing was just to be sure that the risk for the day was always green before ending the days trades. The risk for the day is next to, pips for the day on the bottom of the Alveo platform. Not sure if this is exactly what your issue is, but for me it kept me informed as to daily win and or loss. Since I thought of it as just getting through the levels and not necessarily to be profitable, once the risk per day was green I would then change accounts and trade the way I knew, they are all simulated accounts anyway so from that stand point it really doesn't matter. You can have negative pips for the day, but if your risk for the day is green, it can be green showing 0.00, and your streak will continue. 0.00 and green is just less than 1cent in profit. Going through the beeline levels, I found to be much easier when I used beeline as a game and played just to get through the levels. It wasn't until the silver 3 level that I started to use beeline (in my mind), in the way it was designed to be, and began to use it more as a learning tool, rather than a game. Trading in the other simulated accounts kept me trading in the way I wanted to trade, and knew how to trade rather than meeting goals that for me in some respects meant nothing to how I trade.
If you read some of the many posts in the forums you will find many different ways people played the game just to get through the levels. Hope this helps and doesn't confuse you.

 
rd

Thanks bigbubba! I hadn't paid attention to that "Risk Today" number as I thought it had something to do with how much I had traded. Now that I look at it, I guess it's actually just percent gained or lost on the day. That'll be a big help! I agree with you that the Beeline is kind of a trading game. I think it's a good idea, and completing the achievements is fun, if not always realistic. Completing some of the achievements forces me to trade in ways I've spent years training myself NOT to trade! But overall I think it's a good exercise, and it's an objective way for the fund to evaluate trading progress. I'll sure be glad to get through it though!

 
bigbubba32

Yes RD I agree completely, for me once I realized that, it did make getting through a bit easier. It does force us to trade in ways we normally wouldn't, but once you think about it, it does give us other ways to look at trading. It is fun once you realize what the idea behind the training is all about. Once I reached Silver 3 the fun really began to pay off, it did take me a little longer than I expected to get through the third level, but I do believe it has been a help moving me on, today I moved into a pre fund account, so things are getting better, and the training is working. Enjoy, if I can help just let me know.

 
don_johnson

Since there is only the Statistics chart to somewhat assist in determining the growth or decline daily in dollars , I keep a note book with the balance each day . And in Gold I I am tracking my last 50 trades for win/loss which would be another nice thing to add to the Statistics compilation . Nice for me right now at least ......

 
dgy48

To meet the requirements of gain I like to check both the pip gain and the Profit columns, to make sure they are both positive, before closing a trade.

 
FXGold54

I keep an excel spreadsheet with my daily pips, % and balance in addition to tracking my trades

 
hakchinoy

RD: Please keep in mind that it's not difficult to convert "Risk Today" into the net amount won/lost.