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Multiple Selection for R Column Values

Discussion in 'OptionVue Forum' started by Kevin Lee, Aug 18, 2015.

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Do you find this feature useful ?

  1. Yes

    100.0%
  2. No

    0 vote(s)
    0.0%
  1. Kevin Lee

    Kevin Lee Well-Known Member

    Currently, users can only select one value for R column to display.

    upload_2015-8-18_7-55-52.png

    One great way to use the R column is to do "What If" analysis. For example - assign an alphabet "A" to existing position. Then you can have different adjustment possibilities, call them "1", "2", "3", "4", "5".

    It would be great if we can do multiple selection, perhaps by checking boxes : "A" + "1", "A" + "2"...., "A" + "1" + "2". In this way, we can see how each adjustments play out over time, both in real time or in back testing. Currently in order to achieve that, I had to create separate trades for each permutation.
     
    Georges, Jason, Joe and 5 others like this.
  2. David Stewart

    David Stewart Well-Known Member

    Yes, thanks Kevin. I agree that that would be a great improvement to add that capability to OV
     
  3. Georges

    Georges Well-Known Member

    Yes Kevin,
    Got the same idea months ago, would be a great improvement.
    I like to add, when matrix updating realtime data, sometimes difficult to select a R number, the array is going fast away before can select a number.
    When optionvue must change the access method, hopefully they open a small window, then we can select boxes which R's we like ( with plenty of time to check),
    then we must click a icon to close, that will activate the combination.
     
  4. Georges

    Georges Well-Known Member

    When optionvue open a small window, in place of 1 column check boxes, take 2 columns check boxes.
    In column 1 we make a combination that is placed in one window P/L graph.
    In column 2 we make a combination that is placed in second window P/L graph.
    When going forward in backtrader, place two windows P/L graph next to each other to compare.

    Present additional besides the 2 columns a overlay checkbox, when this is checkit by the user,
    then the strategies from the 2 columns are not placed in 2 windows, but in 1 P/L window over each other
    to compare when forward in backtrader.
     
  5. David Stewart

    David Stewart Well-Known Member

    Yes Georges, Excellent idea
     
  6. tom

    tom Administrator Staff Member

    I sent this proposed solution to Len Yates earlier today. The idea is to replace the R column with a trade ID with the ability to group trades together to create a larger trade. For instance, a Weirdor is composed of a put credit spread, a call credit spread, a put debit spread and an optional teeny. I suggested having the ability to set alert prices for each small trade within the larger trade.

    If trades were grouped like this, the matrix could have a more robust picker similar to what's been suggested with the Reconcile column.
    ----------------------------------------------------------------
    One idea I have to solve some of these problems would be to replace R value with trade number and a way to identify smaller trades inside of a larger trade. For example:
    ------------------------------------------------
    Trade Number: 12345
    Underlying: RUT
    Description: Weirdor
    Category: Weirdors

    Trade A
    Description: Iron Condor
    Date: 8/15/2015 at 11:11
    Entry price: 1.25 credit (per spread)
    Alert price: 0.15 (per spread)

    Trade B
    Description: Butterfly - 1170 30 point wings
    Date: 8/19/2015 at 12:12
    Entry price: 1.25 debit (per spread)
    Alert price: 1.50 (per spread)
    Alert price: 0.75 (per spread)

    Trade C
    Description: Put debit spread
    Date: 8/20/2015 at 13:13
    Entry price: 4.50 debit (per spread)
    Alert price: 3.10 (per spread)

    ------------------------------------------------
    Trade Number: 12346
    Underlying:RUT
    Description:Kevlar
    Category: Kevlars

    Trade A
    Description: Broken Wing Butterfly
    Date: 8/17/2015 at 10:10
    Entry price: 1.25 credit (per spread)
    Alert price: 2.50 (per spread)
    Alert price: 0.20 (per spread)
    ------------------------------------------------

    The matrix would have a better picker to allow any combination of trades for a particular trade number or combining any number of trade numbers. This let’s you analyze each component of a trade individually (similar to ThinkOrSwim). Having individual alerts for each trade component would REALLY help with trade management. Many traders do this already manually so this would really be a huge time saver for everyone. Here’s a mockup of what a trade selector might look like:
    2015-09-20_15-37-25.png
     
    Andrei and uwe like this.
  7. David Stewart

    David Stewart Well-Known Member

    Great idea Tom, I love it
     
  8. Kevin Lee

    Kevin Lee Well-Known Member

    Nice ..... I hope this can be done in the next release.
     
  9. tom

    tom Administrator Staff Member

    Given Jim Graham said he spent six month testing the updated volatility modeling in OV, I don't think a change like this will happen quickly.
     
  10. James H

    James H New Member

    Hi All,

    I spoke with Len this week and he does not think it will take him long to implement it so look for it in the next release!
     
  11. tom

    tom Administrator Staff Member

    Hi James! Welcome!
    That's FANTASTIC news! :D
     
  12. Kevin Lee

    Kevin Lee Well-Known Member

    James, that is great news ! Looking forward.
     
  13. Andrei

    Andrei Well-Known Member

    The trade number idea has been floating around for months, and it looked like Len or his developers did not see it as really necessary. May be they have finally change their minds.

    There are so many little feature that can be added to the interface to make it more usable and up-to-date. Most of them are not that complicated. For instance why not add a calendar feature to Back Trader and Max Projection Date so you can click on a date to go to. I find typing anything into OV is a real pain, since it is often slow when using the TOS feed.

    It seems to me that OV prides itself on the most robust Vol models, which is probably true, and considers user interface and usability feature to be secondary and not worth putting any priority on.
     
  14. Kevin Lee

    Kevin Lee Well-Known Member

    Hi James,

    When can we expect the next release with this new feature?
     
  15. emeric

    emeric Member

    I agree that, in backtrader, should be a calendar enabling much quicker access to the day we want to be.. Optionnet has this feature and it s perfect.

    I also do not understand why it takes so long for OV to access and load the data, when it is so wuick with ON. And option has 5min interval data available, when OV has only 30min !
     
  16. Jay Hattler

    Jay Hattler Well-Known Member

    Was hoping that this Multiple Selection for R value would have been in the latest update (7.71) I downloaded today. No joy.
     
  17. GreenZone

    GreenZone Well-Known Member

    When it comes to OV fixing bugs and coming out with new features, I'd recommend keeping your expectations very low.
    You'll get less disappointed that way ;)
     
  18. tom

    tom Administrator Staff Member

    I was also halfway expecting an update that included multiple R value selections. Hopefully this means Len is working on a more substantial enhancement for later release.
     
  19. Andrei

    Andrei Well-Known Member

    Exactly I really hope they will listen. When I tried to propose something similar, it seemed that OV did not see any need to change the existing set-up. I think there is a discussion somewhere on the forum about doing it, but Len's response was not very encouraging.
    Also earlier today I responded to Len's post asking for specific ideas for improvements, I included this item (#7) in my list.
     
  20. tom

    tom Administrator Staff Member

    Hi Andrei,

    Len did make a step towards improving this but kept the R column intact and just allowed selecting multiple R values together on the matrix. Helpful but still not quite what we need due to the fact the R column is only one character and there's no grouping of smaller trades into larger trades. Oh well.. at least its a step in the right direction.
     

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