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-   -   What app do you use to record your trading journal? (https://www.forexfactory.com/thread/835546-what-app-do-you-use-to-record-your)

OceanPips Oct 16, 2018 11:46am | Post# 1

What app do you use to record your trading journal?
 
What app do you use to record your trading journal?
I'm considering trying Tradebench. But would like to learn about other options before I start trying.
Edit: After reading the Tradebench "about" page, I can't help but have the feeling the owner has a plan to sell Tradebench when the time and price is right.

cmario Apr 11, 2019 1:58pm | Post# 2

Hi,

At the moment i'm just using the broker's website but I want to be able to do more than they offer. I am actually planning to implement my own website and have the trades recorded as they are done. Then, having the complete data, I would be able to do more analysis on it.

Would you be interested in such a website?

Thanks!
Mario.

havo Apr 11, 2019 8:29pm | Post# 3

You dont need a ton of data about your trades, graphics and all that crap; you only need a screenshot of WHEN you palced a trade AND when you EXIT that trade, because targets were hit (Stop loss or take profit, doesnt matter) or you manually closed that trade

those 2 screenshot are the only usefull information that will tell you if you are following the rules of your analisys/strategy or not AND where are you failing..


want specific data? take the info that your broker gives you, be it a daily/weekly or monthly statement (honestly its not that important as long as you end with more money than you lose)

cmario Apr 12, 2019 4:16am | Post# 4

@havo
I think the screenshot idea is good and I try to do that as often as possible. However, I believe data analysis goes beyond looking at the screenshots.
In order to identify and refine a strategy, or an edge as is called in the course i'm taking now, i want to be able to analyse things like best entry time for intraday trades, cyclical aspects, early warning when an edge is no longer there (based on statistical data) and so on.
These are actually only a part of what I want to do with the website. The rest would include automatically calculating position size based on the stop loss and risk, automatically move the stop loss and maybe profit targets based on certain conditions, some sort of trade management like close all trades when a crash happens and other things that are yet to be defined.
Now, a mature trader will maybe be able to do that on the fly, but I'm still at the beginning.

You are right, the ultimate goal is to make profit, but different traders have different methods.

thomas101 Apr 12, 2019 5:19am | Post# 5

More likely they will start charging you something down the line since they have you locked in to there online platform. Have you considered excel? If all you want is to be able to see your profit/loss percentages it's trivial to do in excel and it's free. If you want something more capable I can recommend https://www.stockportfolioorganizer.com it does forex and currency conversion, which is what I wanted.

cmario Apr 12, 2019 5:28am | Post# 6

@thomas
Thanks for the link. I will check it out. There a price tag for that though.
I'm a professional software developer so building my own website is, long term, a cheaper solution for me.

The time consuming part is also what I'm trying to avoid. Some days are pretty hectic and there is no time for trading let alone keeping an excel up to date. Therefore the wish to automate most of these actions.

cmario Apr 12, 2019 1:32pm | Post# 7

I found this website: https://www.myfxbook.com/ (via an FF thread). It's having quite some features. I connected 2 tests account from my broker, Oanda, and it looks quite interesting.

I am in no way associated with that website!

cmario Apr 12, 2019 1:34pm | Post# 8

@thomas101 I didn't realise it earlier that https://www.stockportfolioorganizer.com is actually a desktop application.
That's a no go for me as I want to be able to trade also from my phone.

thomas101 Apr 14, 2019 6:26am | Post# 9

I prefer a desktop app since I find my phone to small to really do anything. I also don't like the fact that online portfolio tracking sites ask you for to much information. You never know what they will do with the data.....but each person is different.

cmario Apr 14, 2019 7:28am | Post# 10

Yes, I actually agree. I wouldn't do very thorough trade analysis on my phone. When I answered above I was thinking that the two things, trading and analysis, are integrated in the same software but actually they need not be. Is there a difference between a website and desktop based app when asking for info to track your portfolio? I would guess not ...

As for the what they do with the data: this is relative to where the company is operating. I am a software developer in Europe (Germany) and here there are very strict rules when it comes to data privacy and storage, explicit consent and so on.
I can only speak for the companies I worked for, which have operations in Europe only, and I can assure you that they were abiding all the laws.
And on a different note: even if a company is mining your data, unless you are such a big trader that you can move the market, I don't see how you are affected by this in practice ...


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