Estimating the net profit of a potential position
Created at 04 Nov 2024, 16:04
CT
Estimating the net profit of a potential position
04 Nov 2024, 16:04
Hi all,
I have an extension method to calculate a rough estimate of the net profit should I launch a position and it reaches the target price, see below….
using System;
using System.Collections.Generic;
using System.Linq;
using System.Text;
using System.Threading.Tasks;
using cAlgo.API;
using cAlgo.API.Collections;
using cAlgo.API.Indicators;
using cAlgo.API.Internals;
namespace cAlgo
{
public static class Extensions {
public static double EstimateNetProfitAtPrice(this Symbol symbol, TradeType tradeType, double targetPrice, double volume) {
double pips = 0;
if(tradeType == TradeType.Buy) {
pips = (targetPrice - symbol.Ask) / symbol.PipSize;
} else {
pips = (symbol.Bid - targetPrice) / symbol.PipSize;
}
return (pips * symbol.PipValue * volume) - symbol.Spread;
}
}
}
I think this is close but I've not included any commissions / swaps as I can't quite figure out how to include these in the calculation… How can I do this?
Also, any tips on how I can make it more accurate would be useful.
Many thanks in advance!
Mat
firemyst
05 Nov 2024, 05:46 ( Updated at: 05 Nov 2024, 08:03 )
For Commissions, you can look at these previous threads for guidance:
https://ctrader.com/forum/ctrader-algo/9495/
https://ctrader.com/forum/cbot-support/2395/
https://ctrader.com/forum/connect-api-support/37922/
@firemyst