Trading Systems Performance Expectations
Algorithmic trading systems have been developed by optimizing system rules, and parameters on historical data. This does not guarantee that past performance will be as profitable, or will exhibit similar characteristics to real-time trading results. Given enough variables, it is possible to curve fit a system to historical data, and any relationship between those rules and future, unseen data may be random. AlgoLab has taken steps to reduce the number of variables and system rules to reduce the degrees of freedom which will reduce the chance of curve fitting. Current market regimes can and do change, and rules that previously predicted future prices may no longer work.
AlgoLab Dashboard v 2 overview
About the AlgoLab Dashboard
Use the AlgoLab dashboard page to start autotrading any of the built-in AlgoLab trading systems. You can start and stop auto trading, view performance and account balances, set custom settings like symbols and biases to trade, the amount of capital you have to trade with, and the amount of leverage you want to use. Access AlgoLab dashboard from any html 5 compatible browser on your mobile device, laptop or desktop computer.
From the dashboard page, you can link to the ALgoLab Performance Viewer by selecting the "Performance Viewer" tab. Learn more about the profit and loss characteristics of an AlgoLab MultiSystem before you start trading it. The Performance Viewer is a html 5 web application that runs in your browser window. You can view historical backtesting results from 2007 to the most recent update. With APV, you can specify the amount of capital you have to trade with, how much leverage you are willing to use, and then preview an estimate of returns and drawdowns (hypothetical based on historical backtesting results). Note that a higher leverage setting will usually increase your return, but will also increase your drawdown (losses). You can also experiment with changing the portfolio of markets that your AlgoLab trades and view the performance metrics resulting from those changes. You can inspect results by going long or short only, and you can also change the date range to see detailed performance results over a smaller period of time.
Overview of The AlgoLab Dashboard
ACCOUNTS This index is a list of all current AlgoLab account alias names. Click on a name to view account details. (available to AlgoLab Pro users only)
SYSTEM This is your currently selected trading system. Change this in the "Settings" drawer.
CAPITAL This is how much capital you have set to trade with. Change this in the "settings" drawer.
LEVERAGE (RISK) This is your current leverage (or risk) value setting. Change this in the "settings" drawer.
STARTING VALUE This field shows original "starting" amount of capital in your interactive Brokers account. Your % return is based on this value.
ACCT VAL The "Account Value" field shows your current account value INCLUDING any open profits or losses and your starting capital. This value comes directly from your account at Interactive Brokers and is always correct.
PROFIT/LOSS This is your total profit or loss since starting trading and does not include your starting capital.
MARGIN USED This field shows how much margin you have used for all current positions. Futures exchanges require a minimum amount of capital in your account for every contract that you currently own. If the "margin used" amount is above 95% of your account value, AlgoLab will automatically pause placing any new orders for new positions until your "margin used" amount is below 95% of your account value.
OPEN PROFIT This field shows your current open profit, and includes the cost of trading commissions and fees.
PROFIT/WEEK This is your total profit to date divided by the number of weeks since you started your AlgoLab.
DASHBOARD TAB This tab shows the dashboard
PERFORMANCE VIEWER TAB This tab will launch the Performance Viewer web application
RESOURCES TAB This tab will navigate to a page showing price charts, and useful links to other web sites.
ON OFF This indicates if your AlgoLab is currently "ON" (transmitting orders to your IB account), or "PAUSED" (no longer transmitting new orders to your IB account).
Note that when set to "OFF", your AlgoLab will stop transmitting new orders for new positions, but will continue to manage any existing positions until they have been closed.
Change this in the "Settings" drawer.
CONNECTION: A green check means your account is connected to your interactive Brokers account. A red X means that you have not connected for the first time (if you are a new user), or there is a problem wth your connection. Please contact us
RETURN This is your percent return based on your starting capital (profit / starting capital).
TYPE This indicates if this account is a simulated paper trading account ("Demo"), a funded real money account ("Funded"), or an AlgoLab Pro account.
Any AlgoLab funded account that is subscribed to a maximum risk level of .4 or higher, is automatically given AlgoLab Pro status. Pro accounts feature:
Manual trade exits
Custom risk per symbol
All demo accounts include AlgoLab Pro features.
LAST UPDATE This is the time of the most recent dashboard page update in Mountain Standard Time (MST). Hit the refresh button on your browser to see the most recent update. Dashboard pages are updated every 1 minute unless you change your AlgoLab settings in which case the update is done immediately after your edit.
ALERT This field shows various status messages from AlgoLab.
PROFIT GRAPH The graph shows the total accumulated profit (sum) only, and does NOT include your original capital amount. Your account value, therefore, is the final value in the graph plus your starting capital amount.
You can change the date range for the chart by clicking and dragging the blue dots to the right and left below the chart. The "Date", "Profit/loss" and "Return" fields at the top of the chart are automatically recalculated to reflect values for the date range specified.
POSITIONS The positions table shows all of your current open positions entry price, entry date and time, open profit/loss for that position and quantity of contracts purchased. A negative qty (-1) indicates a short position. Holding your mouse over the symbol will show the name of the symbol.
AlgoLab Pro users will see a red "CLOSE" button beside each position. Pushing this button will close that position at the market assuming that the exchange is currently open. For a listing of exchange times, select the "Resources" tab at the top of the dashboard.
CLOSED TRADES The closed trades table shows all of your closed trades descending by the date and time the trade was closed. Each line in the table includes the symbol, the contract, entry price, date, commissions paid, and realized profit/loss for that position. Negative qty column (-1) indicates a short position. Resting your mouse over the symbol will show the name of that symbol.
NOTE: Profit and loss shown in the Closed Trades field are estimated values. In some cases where AlgoLab has exited positions due to an expiring contract, the exact exit price will be unknown, so an estimate is used.
For accurate ledger of all closed trades, please log into your interactive Brokers account at the IB web site, and generate an "Account Statement" or "Trade report".
SYMBOLS This indicates the symbols that you are currently trading, along with the bias setting for each symbol. The bias indication up and down arrows mean that AlgoLab is currently placing LONG and SHORT trades for that symbol.
You can change your symbol portfolio and biases (long/short) in the "Settings" drawer.
DAY OF WEEK FILTERS This shows the days of the week that AlgoLab is set to autotrade.
You can set the days of week filter in the "Settings" drawer.
ON OFF This shows the current trading status of your account.
Setting your account to "Trading is on" means that AlgoLab will start autotrading.
Setting your account to "Trading is off" will cancel all open orders in your interactive Brokers account, and will stop transmitting new orders for any new trades, but will continue to manage all existing positions.
Setting to "Trading is off" will NOT exit any of your current positions.
SYMBOLS Clicking the green and red arrows beside each symbol will turn that symbol OFF or ON meaning that you can trade any symbol only long, only short, both long and short, or not at all.
AlgoLab Pro users can specify a custom leverage amount for each symbol by clicking on the leverage value counter beside the symbol. "a" means that symbol is set to use the global leverage value.
AUTOFOLLOW AutoFollow allows users to automatically follow the activities of other AlgoLab users. Select the user's alias name that you want to follow from the drop down menu and then select from several follow options:
PAUSE - each time your followed account pauses or unpauses, your account will also automatically be changed to match.
SYMBOLS, SYSTEM, & DOW - each time your followed account changes their symbol set or trading system, or DOW (day of week) filters, your account will also automatically be changed to match.
EMAIL UPDATE - each time your followed account changes pause state, symbols, DOW (day of week) settings, or risk setting, you will receive an email with details on what was changed.
RISK & MANUAL EXITS - each time your followed account changes their risk setting, your account will also automatically be changed to match. NOTE that if your followed account changes risk setting to a value that is ABOVE YOUR SUBSCRIPTION MAX RISK SETTING, then the change will NOT be made to your risk setting. Also included in this subscription type, is if your followed account manually exits a trade, your account will also manually exit.
When you are using AutoFollow, you will notice that depending on which options you are using, certain settings areas will be disabled. For example, you cannot pause or unpause your account if you are following another account. If you want to take over control of your account, then you must select "stop following" from the drop down menu, and submit.
PORT # PASSWORD Enter your ALGOLAB Port number and ALGOLAB password into these fields PRIOR to pressing any of the "SUBMIT" buttons in the Settings drawer.
SYSTEM AlgoLab has a number of trading systems that can be used. For details on each system. visit the "TRADING SYSTEMS" menu above.
If you change your trading system, AlgoLab will cancel any existing orders for new positions, and start transmitting new orders for any signals that the new trading system generates. Once a system has been changed, AlgoLab will continue to manage any positions that you own as per normal.
Note: When you change trading systems, you won't necessarily 'pick-up' any existing positions that other users who are trading the same system own.
DAY OF WEEK FILTER You can restrict your AlgoLab to trading only on specified days of the week. Use the Performance Viewer to estimate the effect of this filter change.
CONNECT TO IB ACCOUNT Use this form to make a connection between your AlgoLab and your interactive Brokers account. For new users, once your AlgoLab has been connected, you won't have to reconnect again unless there has been a disconnection in which case, we will notify you and request that you reconnect using this form.
Enter your Interactive Brokers ACCOUNT LOGIN NAME, and your Interactive Brokers ACCOUNT PASSWORD.
Ensure that you have entered your port number and AlgoLab password in the fields at the top of the settings tab. After you push the “submit” button, please have your smart phone ready to authenticate the connection using the “IB Key” authentication app.
CAPITAL AND RISK SETTINGS IMPORTANT: BEFORE TRADING, USE THE ALGOLAB PERFORMANCE VIEWER TO ESTIMATE PROFITS AND LOSSES (DRAWDOWNS) USING YOUR CAPITAL AMOUNT AND RISK VALUE. WE DO NOT RECOMMEND SETTING A RISK VALUE THAT MAY RESULT IN DRAWDOWNS THAT ARE OUTSIDE OF YOUR PERSONAL RISK TOLERANCE.
CAPITAL This is how much capital AlgoLab will use to trade with. If you want to compound profits by including all profits in your total capital, then periodically adjust this amount to equal your account value. If your intention is to only trade using your original starting capital amount (if you intend to withdraw all profits for example), then keep this amount set to your original starting capital. Normally, this capital field is periodically changed to reflect your new total account value.
LEVERAGE (RISK) This is your current leverage value setting. You can set this to a maximum of your AlgoLab subscription leverage value, and you can change it at any time. When you change this value, AlgoLab will cancel any existing orders for new positions, and replace them with new orders with quantities calculated using your new leverage value. Leverage value simply refers to the number of contracts that AlgoLab will trade for you.