TradeStation MoneyMangement HELP!

Hi All,

I am a TradeStation Beginner and attempting to code a money management strategy that I can't seem to get working.

the code is as follows:

if(marketPosition = 1) then
begin
longProtStop = entryprice - (moneyManStop/PointValue/PriceScale);
longProfitStop = entryprice + (takeProfitStop/PointValue/PriceScale);
osCount = 0;
end;

and correspondingly:

if (marketPosition = 1) then
begin
ExitLong ("longLoss")next bar at longProtStop on a stop;
ExitLong ("longProfit") next bar at longProfitStop on a limit;

my problem is that the takeProfitStop and moneyManStop values that are returned when I test the signal are incorrect. With an input of $5 as a money management stop, I can incur a loss of nearly $3 per share on 1000 shares, which is obviously incorrect. My question then, is this: is my formula for determining money management targets incorrect, or are my settings for PointValue and PriceScale somehow incorrect? If so, can these be changed, or are they determined automatically be the program?

As always, any help would be greatly appreciated!

-Ben

 

You should post on Tradestation support forum, an Easy Language engineer will get back to you, usually within hours or a day at at most...

 

Ben, try using BigPointValue instead of pointvalue, I think that'll do it.

DS

 

Aha!

thanks so much!

all that trouble over 3 little letters.

do you know off hand what is the difference between BigPointValue and PointValue? maybe I can check the dictionary.

thanks again

-Ben