Position value is expressed in base currency, was: Incorrect Position Value

[wmorton]

Just recently I noticed that Amibroker backtest results present a 'Position Value' much less than expected. The attached trade example has PV equal to $33,022 when it should be $47,297 (12,349 shares x $3.83 entry price)

Can someone please advise where the error may be?

Thanks

[Tomasz]

First please read this: How to ask a good question

Your post does not give all necessary info. The screenshot is truncated. No-one knows from where it comes. Formula is not given. Settings are not known.

On possible explanation is that if your security is traded in OTHER CURRENCY than base currency set in Preferences, then price will be expressed in INSTRUMENT currency, while position value is expressed in BASE currency.

Use this to debug your formulas:

How do I debug my formula?

Continuing the discussion from How do I learn AFL?: Many new users with zero programming experience struggle when their formula works incorrectly. Here are few hints that everyone should use to make finding errors easier. First of all: you have to get insight into what the formula is actually doing, not what you think it does. Typically new user has no idea what is happening inside. Pretty often you make an assumption that things work one way but in fact they work differently. Do not assume t…

[jani]

you have the wrong currency set.

the current USDAUD exchange rate is approximately 0.698 USD/AUD, which is pretty much precisely what your position value vs expected position value is.

[wmorton]

Thanks Jani. Easy fix

[Tomasz]

you have the wrong currency set.

Actually I explained it already in my first response. It is not that currency is "wrong". It is that currency of instrument traded (AUD) is DIFFERENT than base currency set in preferences (USD). Position value is given in BASE currency.