Hi. When an optimization is complete, one sees about 18 different metrics at the top of the optimization box such as Net Profit, APR%, etc. I think I vaguely recall that other metrics could be added, but I don't know how to do it. For example, there is a Max Drawdown metrics/column which lists Max Drawdown in absolute dollar terms, but I would prefer to see Max Drawdown % instead. How could I add this column?

Adding new optimization and ranking metrics (in Strategy Rank tool) is accomplished through so called "ScoreCards". They need to be developed and compiled in order to appear in WL6.

Unfortunately, Fidelity made no guide available on creating custom scorecards but we filled this gap by publishing the open source code of our Community.Scorecard library. The code is a part of the MS123 Performance Visualizers library (because they share many performance metrics).

Good news: you don't need to develop anything in order to prefer Max Drawdown % in optimizations and rankings. It's already available in the Community Scorecard. Upgrade to the latest release of MS123 Visualizers to make sure this scorecard is installed. Then, just select the right scorecard from the dropdown menu in Optimizer.

Hi Eugene. How do I upgrade to the latest release of MS 123? Thanks.

Updating extensions:

1. Illustrated tutorial in Extensions section > "How do I update Wealth-Lab extensions?"
2. Same information in the Wealth-Lab User Guide > Extension Manager > Extensions How To.

For Fidelity users, requires switching to "Other Extensions" tab in the EM (described in the User Guide).

Eugene, in my Estensiion Manager, under the Providers tab there are 4 items. One of them is: MSN Static and Fundamental 1.2.3.0, and its publisher is MS123. Was this the extension that you were referring to. And if it is, the Update Now button is grayed out, and is not clickable. I am assuming that this means that I have the updated version. Yes, no? Thanks.

Neither 'Yes' nor 'No'. Read my last remark on "Other extensions".

I did. And so I switched to Other Extensions, and the Update Now button is still grayed out. It is not clickable. The title says " MSN Fundamentls Data for Securities 1.0.1.0." and "Publisher: MS 123."

It's not clear to me why are you looking for a Visualizer library under the Providers tab? Visualizers are Addins and data providers are, well, Providers.

This is why we need you probably. Ok, I clicked on the "Addins", and there are 4 items: Community Componets library, Geneti Optimizer 1.2.1, PosSizer Library 2010.09 and Performance Visualizer library 2010.01. I am assuming that you would like me to click on the Update Now button on the Performance Visualizer library. When I did, however, I get a dialog box open up that says: Extension requires Wealth-Lab Pro 6.1 or later. What shall I do now? Thanks a million.

You made your way to the right extension. It was installed but the version is very outdated. To update it, you have to upgrade to the latest version of Wealth-Lab Pro which currently is 6.1, exactly as suggested by the dialog box. Then the extension will let update itself.

Eugene, you give me too much credit. This is sooooooooooooooooo basic, but I don't want to take any chances with my PC. I would much rather appear "stupid."

So for me to upgrade to WLP Pro 6.1, do I go to All Programs in Windows 7, click on the Weath-lab pro folder, uninstall it first, and then go to fidelity.com, and install WLP? If not, what should I do?

Next time WLP 6.0 starts, it will bring up the Mandatory Upgrade dialog that should do the rest i.e. update you to 6.1.

thanks Eugene.

Eugene, it seems like the Community Scorecard has more metrics than Extensive. Is that right? Because I thought that Extensive would have more due to the name itself, but I think I was wrong, right?

And where do I go to find the definitions of these metrics that are on the Community Scorecard such as K-Raio, Ulcer Performnace Index, etc.? Thanks again.

QUOTE:
Community Scorecard has more metrics than Extensive.

Basic/Extended Scorecards are a part of Wealth-Lab developed by Fidelity while the Community scorecard is not.

QUOTE:
And where do I go to find the definitions of these metrics that are on the Community Scorecard

The link to the scorecard's online help was provided in my very first reply. What metrics could be described, are described there.

Note: the Wealth-Lab Wiki hosts a Knowledge Base for WL6 and is the place to look for open-source Indicators, Components, and their documentation.