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Hello,
Since you somehow find it entertaining to move
support discussion to the list (although it is NOT the support channel),
I can only copy-paste response I have given
you
previously on support channel.
In short numbers you get from AmiBroker are
correct.
Trading leveraged instrument as UAPIX is NOT the
same as trading ^RUT with margin,
since in first case you need smaller amount of
buying power to obtain the same dollar profit.
Since buying power is different, percentage profit
with same dollar profit differs
(or with the same percent profit, dollar profits
are different). This is so because pecent profit is calculated
as DollarProfit /
EntryValue
and EntryValue using margin account is TWICE the
entry value when not using margin.
So even if DollarProfit is the same, percent profit
is different due to different entry value.
You are focusing on your expectations how expactancy should look like
:-)
and I am telling you how things are calculated.
Expectancy is just
the outcome of % profit calculations.
So again:
In this example
we
assume the following: that UAPIX movements are exactly 2x the movement of
^RUT
(so there is exact 2x leverage between them). (Note that this
assumption may not be true in
reality and is used for illustration purposes
only)
say UAPIX moves from 23.77 to 24.77 (+4.2%) and your initial equity
is
23770 so you purchase 1000 shares. Your profit is $1000 and percent profit
is +4.2%
At the same time ^RUT moves 2.1% from 638.67 to 652.10.
Now
your cash amount is the same as in previous case 23770 but you are on
50%
margin so your buying power is twice as much 2*23770 = 47540.
So you can
purchase 74.4359 shares (for simplicity
in the example we assume that
fractional purchases are possible)
Your dollar profit is (652.10-638.67) *
74.4359 = $1000 (approx due to rounding) - the same
as in first
case.
Your PERCENT profit is however:
$1000 / $47540 =
2.1%
This is so because in second case you had to buy shares for
$47540
while in first case you only spent $23770.
If you want
expectancy to be the same in both cases you should not use
percent profits
but dollar profits instead.
Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
Sent: Wednesday, August 31, 2005 2:27
AM
Subject: Re: [amibroker] Re: AmiBroker
Support
Good example. It just does not seem correct to me. It can't
be. Yet, I have received a number of emails from Tomasz today telling me
that it is correct. I ended it ny telling him that I would get back to
him after I think about it some more and that I really believe that is is an
obvious problem. Anyway, I was just so happy that AmiBroker finally
responded. Now, I need to let others tell me that I am either missing
something (I do not think so) or that AmiBroker needs a change. Today, I
know that I am getting expectancy numbers that are wrong with I use margin to
give me leverage. So, I handle such in Trade where the answers are what
I expect. Fred Tonetti <ftonetti@xxxxxxxxxxxxx>
wrote:
Looks like the attachment didn’t
make it in the previous post …
= = = = = = = = = = =
=
TJ,
Really ? Maybe we don’t
understand the statistics … See the attachment. Same system on both
sides traded without margin on the left, with margin on the
right.
Should:
-
Avg Profit/Loss% in ALL TRADES
Section
-
Avg Profit % in WINNERS Section
-
Max Trade% Drawdown
be the same
?
If so can you please explain
?
Thanks,
Fred
= = = = = = = = = =
=
Follow up: I have made a check to
verify your report about avg. profit/loss
and all I can say is that I can not confirm your
observations.
Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
From: "Tomasz Janeczko" <amibroker@xxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Tuesday, August 30, 2005 5:51
PM
Subject: Re: [amibroker] Is AmiBroker Support on
Vacation, "rude" or what??
> Hello,
>
> I have forwarded your message to Marcin for
checking in detail.
> One thing is sure that we do not "selectively
decide" what issues to respond
to.
>
> I have quickly checked the issue you mentioned
and you don't ask any question
in it.
>
> All I can see are some
thoghts/observations.
>
> Best regards,
> Tomasz Janeczko
> amibroker.com
> ----- Original Message
-----
> From: "bistrader" <bistrader@xxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Tuesday, August 30, 2005 4:35
PM
> Subject: [amibroker] Is AmiBroker Support on
Vacation, "rude" or what??
>
>
>>I find it disturbing that AmiBroker Support
selectively decides what
>> issues it wants to respond to. I have
talked to several in our
>> FastTrack group that send emails to
AmiBroker Support and even Tomasz
>> asking for help. Oh sure, they get the
standard message saying that
>> a response will be provided within 24 hours
but they never hear a
>> thing on what they consider to be critical
items. One might ask, why
>> is AmiBroker Support and even Tomasz being
so selective in what they
>> repond to? I, for
one, have no idea.
>>
>> I certainly hope that this does not
continue. I really like the
>> software and the response by AmiBroker
prior to these string of cases
>> has been quite
good.
>>
>> In any case, I hope it changes. I saw a
message recently where
>> someone on this board implied that someone
else was being rude. Is
>> it "rude" when one tells you that a
response will be provided and
>> none ever is? Is it "rude" when someone
does not respond even when
>> repeated requests are made. I hope not. I
would rather think that
>> he/she just got caught up in the moment. An
oversight, if you will.
>>
>> So, if interested, think about responding
to request 22642 originally
>> sent to AmiBroker on September 12th and
then again on September
>> 18th. Try to be nice as we should all
practice what we preach.
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