ScanVest allows you to set up multiple trading accounts and therefore apply different accounts to different scans. A simple example is where you use a stockbroker for stocks and a futures broker for futures, each have different brokerages, amounts, etc. When you start a new account you need to deposit an amount of money in the account and enter the date the deposit was made. Trades prior to this date will not be taken and trades after this date will be taken depending on cash available in the account.
Position Size
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“Fixed Dollar Size” has the following settings -
- Position Size $: Specifies the size in dollars that each trade should be, e.g. $5,000. Each trade will be the lesser of this value & cash available.
- Maximum Risk %: Specifies the maximum size of the trade as a percentage of the portfolio value + capital. Trades will be reduced to this size.
- Volume Size %: Specifies the maximum size of the trade as a percentage of the average volume over the last week. Trades will be reduced to this size.
- Minimum Size $: Specifies the minimum size of the trade in dollars ~ trades below this amount will not be taken.
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“Fixed Percent Risk” has the following settings -
- Position Risk %: Specifies the size of the trade based on the amount you are willing to loose on this trade as a percentage of the portfolio value + capital
- Maximum Risk %: Specifies the maximum size of the trade as a percentage of the overall size of the portfolio and capital. Trades will be reduced to this size.
- Volume Size %: Specifies the maximum size of the trade as a percentage of the average volume over the last week. Trades will be reduced to this size.
- Minimum Size %: Specifies the minimum size of the trade as a percentage of the portfolio value + capital ~ trades below this amount will not be taken.
Brokerage
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You can modify your brokerage by changing any of the following -
- Round Lots: When simulating the purchase of a parcel of shares, ScanVest rounds the number of units (shares) bought to a multiplication of this amount. By default this amount is set to “1” however to better simulate real trading conditions a setting of “100” is suggested. For example $4,970 will buy the following number of $2.78 shares -
Round Lots of 1 10 100 1000 Buys Shares 1787 1780 1700 1000 - Entry Cost: Cost of opening a position (i.e. brokerage) ~ Default value: 30
- Exit Cost: Cost of closing a position (i.e. brokerage) ~ Default value: 30
- Max Open Positions: Sets a limit to the number of positions that can be open at any one time. Once the limit has been reached no further positions will be opened until existing open positions have been closed.