Hi, can anyone help on this one?
Spent most of a day trying to get the value of account balance before a trade and again afterwards. I want to see the amount of cash that the trade costs.
Still trying to work out why the account balance has not altered. Code as below.
These are the results from the journal...
AccountBalance() after opening trade 5000
EURUSD at 1.44164 ok // <<< Journal confirms Long trade opened
AccountBalance() before opening trade 5000
This is from back-testing with an account start balance of 5,000 - Trade is made, account balance stays same. So would be most grateful for advise on this
Thank you very much for your time in answering.
As far as I can determine the AccountEquity is the cash
balance plus the value of the opened position, i.e, as described, the equity.
So on testing I am not getting the results I want.
( For example I tested with accountequity() the purchase of 1 lot. The results showed a cash deduction from my 5k account of $2. If only that was possible in real life)
What I am trying to determine is the cash in the account
before and after a position is opened.
For example with a starting account of 5k I open a position
I then want to know the new account cash balance . Deduct one from the other I also
determine the cost of opening that position.
Looking at MQL4 documentation https://docs.mql4.com/account/accountbalance it is clear that this function shows the cash in the account. But when running this with the short piece of code as in my original question the cash balance does not change after a position is opened.
How can this be done?
Hi, thanks, that is an alternative I have considerd. But with other variables such as swaps and roundings and so on the true value of the account balance would soon be adrift from reality.
There must be a point were AccountBalance() shows just that - as described in https://docs.mql4.com/account/accountbalance - the balance of cash left in the account after a position is opened.
It sounds as though what you are interested in is AccountFreeMargin(). In essence, that's the cash balance on the account, minus any floating P/L on open positions, minus any commission and swap (*), minus the margin required to finance the open positions.
(* depending on the broker, swap and commission may either be reported against each individual position, affecting AccountProfit() and the difference between AccountEquity() and AccountBalance(), or may be booked as a series of daily credit adjustments on the account, altering AccountBalance() on a daily basis.)
Thanks guys. I more or less have worked a way around this -
still though, have confusion as to why the cash in the account does not decrease
when I open a new trade (If only real
life was like that)
[...] still though, have confusion as to why the cash in the account does not decrease when I open a new trade (If only real life was like that)
The "cash in the account" does decrease when you open a new trade. The "cash in the account" basically means the equity, and that immediately decreases by the cost of the spread, i.e. by the amount your open position is immediately in loss when you open it.
Free margin will decrease by the cost of the spread plus the margin required to maintain the open position, but that margin is still your money. If you wanted to close your account right now and withdraw your funds, what you would get back is the equity (not the free margin).
There are some platforms which, unlike MT4, only report an equity figure, not a balance figure. The balance in MT4 is basically a total of all closed transactions. It's like the difference reported by many (all?) banks between "balance" and "available funds", i.e. the latter including credits or debits which are going to hit the balance in future but haven't cleared yet.
[...] what you would get back is the equity [...]
We are probably wearing out
this thread now but still find it odd that I cant access information to
determine the amount of cash that is in the trading account until all positions
Bit like my bank telling me that
having spent all my cash on a purchase I still have that original balance in my
account. I understand equity, that is not what I want.
AccountBalance() as described in MQL4 docs states "Balance
value of the current account (the amount of money on the account)". It does not.
When trading live you have '
Account History' that shows the cash in the account and profit/loss. By
clicking 'Trade' we can see the quantity and value of open trades. That
information is what I am looking for to use in my code.