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reviewing trades?

  • #1
  • First Post: May 3, 2011 5:00pm May 3, 2011 5:00pm
Hi i just wanted to know how people review they're trades they make each day?

i guess most people have a plan of action for each day of when they will buy/sell or think about entering.

but how do you record your results and stats? what info do you think is essential in your results in helping you analyse your trades and finding out what is and isnt working?

obviously some people use ma's and fibs etc...so i guess they would need to record where price was in relation to these before and after they entered a trade/took profits/took losses.

so far i have come up with a table the comprises of:

pair
time
buy/sell
sl size
tp size
reason for entry (but this box can become large and contain alot of text so im unsure how to scale it down into something more readable and something that i can analyse better)
drawdown
exit
reason for exit

im not sure what else i need to be able to look back at a week/month/years trading and say this was working or this wasnt working...

any suggestions for what you guys use would be more than welcome...

thanks
  • #2
  • May 3, 2011 5:45pm May 3, 2011 5:45pm
make a journal and ask ppl to critize you

it is important to note your rationale for entering and exiting
AVT INVENIAM VIAM AVT FACIAM
  • #3
  • May 4, 2011 1:06am May 4, 2011 1:06am
Quoting red2010
Hi i just wanted to know how people review they're trades they make each day?

i guess most people have a plan of action for each day of when they will buy/sell or think about entering.

but how do you record your results and stats? what info do you think is essential in your results in helping you analyse your trades and finding out what is and isnt working?

obviously some people use ma's and fibs etc...so i guess they would need to record where price was in relation to these before and after they entered a trade/took profits/took losses.

so...
yeah, it's a good start. For the reason for entry column, try to find different categories of reasons and put them into seperate boxes instead of writing everything into one large box. E.g.: divergence: yes, strong S/R level: yes, PA confirmation: no,...
  • #4
  • May 4, 2011 10:44am May 4, 2011 10:44am
My trades are based off of predetermined systems, so I keep a system log in Excel that works out quite well for me. It helps me very easily monitor a system, other circumstances in the market when the trade was placed, etc.

The majority of traders recommend having a journal or some kind of tracking system.
  • #5
  • May 4, 2011 11:04am May 4, 2011 11:04am
The best journal is here on FF, and I'm speaking of Trade Explorer. It allows you to see the exact time you entered, and add notes to your likings. It also provides plenty of analytics. I use it to identify my problem areas, and areas I need to improve. Highly recommended.
  • #6
  • May 4, 2011 11:08am May 4, 2011 11:08am
1. Trade Explorer or Myfxbook.com
2. a spreadsheet (Excel, MS Works, etc.)
3. FastStone Capture v5.3

Trade Explorer (here on Forex Factory) or Myfxbook.com are great for easy analysis.

My spread sheet is not for individual trades, more for each individual day.
I write notes about spread, number of trades, P/L, news, etc.

FastStone Capture v5.3 (newer versions require payment after 30 day free trial)
is a screen capture software. You can take a screen shot of your trade(s) on your chart,
write notes on the picture and save to your computer or post to your journal.

All of the above are free.
Good Luck!
  • #7
  • May 4, 2011 11:13am May 4, 2011 11:13am
Quoting red2010
Hi i just wanted to know how people review they're trades they make each day?

so far i have come up with a table the comprises of:

pair
time
buy/sell
sl size
tp size
reason for entry (but this box can become large and contain alot of text so im unsure how to scale it down into something more readable and something that i can analyse better)
drawdown
exit
reason for exit

That looks pretty decent. You're already doing more than I do with this information. On Sundays I review the previous week's trades just based on entry + exit alone. Only trade one pair mostly, keep position size usually the same, and the times and reason for entry/exit are usually obvious when I look at the charts, but sometimes I will scratch my head thinking "Why did I enter there again?" So if you can do that for every trade, good on you-- it will help.
  • #8
  • May 5, 2011 4:53am May 5, 2011 4:53am
Quoting the redlion
make a journal and ask ppl to critize you

it is important to note your rationale for entering and exiting

thanks

is there a journal template that can be downloaded......i guess this is what im asking...what should be included in a journal?
  • #9
  • May 5, 2011 4:54am May 5, 2011 4:54am
Quoting Custos
yeah, it's a good start. For the reason for entry column, try to find different categories of reasons and put them into seperate boxes instead of writing everything into one large box. E.g.: divergence: yes, strong S/R level: yes, PA confirmation: no,...

yea thats a good idea, thanks for that, i will add those boxes in!!
  • #10
  • May 5, 2011 4:56am May 5, 2011 4:56am
Quoting JFogel
My trades are based off of predetermined systems, so I keep a system log in Excel that works out quite well for me. It helps me very easily monitor a system, other circumstances in the market when the trade was placed, etc.

The majority of traders recommend having a journal or some kind of tracking system.

i have predetermined systems also, this is why i need to keep a close track on results, as each system is a variation of the last and im trying to tweak it until i have one good system that has an edge...

how do they use a trackign system?

and are there journal templates, as this is something i want to do but not sure what it should include...
  • #11
  • May 5, 2011 4:59am May 5, 2011 4:59am
Quoting Intu
1. Trade Explorer or Myfxbook.com
2. a spreadsheet (Excel, MS Works, etc.)
3. FastStone Capture v5.3

Trade Explorer (here on Forex Factory) or Myfxbook.com are great for easy analysis.

My spread sheet is not for individual trades, more for each individual day.
I write notes about spread, number of trades, P/L, news, etc.

FastStone Capture v5.3 (newer versions require payment after 30 day free trial)
is a screen capture software. You can take a screen shot of your trade(s) on your chart,
write notes on the picture and save to your computer...
thanks alot for that post mate, i have downloaded trade explorer (thanks dad also for the suggestion) and linked it with my mt4, so will see how it helps....looks great so far!

what do you include in your spreadsheet?

fast stone looks good also, it will be good to take a snap shot of the trades i enter manually.....the more implusive trades so i can write down exactly why i took them and what my thought process was at that time...

cheers!
  • #12
  • May 5, 2011 5:01am May 5, 2011 5:01am
Quoting smittens4212
That looks pretty decent. You're already doing more than I do with this information. On Sundays I review the previous week's trades just based on entry + exit alone. Only trade one pair mostly, keep position size usually the same, and the times and reason for entry/exit are usually obvious when I look at the charts, but sometimes I will scratch my head thinking "Why did I enter there again?" So if you can do that for every trade, good on you-- it will help.

thanks mate, i hope it will help too.

i guess i dont need it for the trades i enter via orders, as they would be placed according to a systems rules...

its the impulsive trades that i enter manually that i want to keep a track on....as when they fail i want to know what i was doing wrong at that time!!

hope it does help me...

really appreciate everyones comments and replies.........BIG BIG help! thanks alot...
  • #13
  • May 12, 2011 2:58am May 12, 2011 2:58am
Am new to this site, but I have recently been looking at portfolio management software to track my trades and performance.

I've come across myforexdashboard.com, which looks like a great system, but charges an annual subscription of about $120/yr. It tracks performance stats, and downloads broker statements directly to an excel macro.

Does anyone know of any alternative without the annual sbuscription fee?
  • #14
  • May 12, 2011 8:15am May 12, 2011 8:15am
TradeExplorer here on Forex Factory
http://www.forexfactory.com/userguid...lorer_overview

Myfxbook.com
https://www.myfxbook.com/

MetaTrader 4 Stats
http://www.mt4stats.com/

...and you could keep a spreadsheet with specifics you wanted to track
for yourself.
  • #15
  • May 12, 2011 11:25am May 12, 2011 11:25am
Thanks, INTU. These options look good and they're free, but they all seem to require mt4. I am using Dukaskopy, which does not have an mt4 platform. Any way to work around that, or are there other performance trackers out there than can do the job?

thanks...
  • #16
  • Last Post: May 12, 2011 12:35pm May 12, 2011 12:35pm
I don't know.

Anyone else? have any ideas for performance tracking with Dukascopy?
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