Sierra Chart software allows you to display/report your averaged in positions the way you require. Sierra Chart call it 'Flat to Flat'. https://www.sierrachart.com/index.php?page=doc/TradeActivityLog.php#FlatToFlatTradeDisplay
Please correct me if I'm wrong - but don't you have to route your trades through Sierra for the Trade Activity Log to work?
Hi Bone, I'm not sure as I don't use an averaging in strategy so I am not making use of the 'Flat to Flat' functionality - I just knew it existed in the SC software. My broker is AMP and I use the CQG datafeed with SC and the Trade Activity log works just fine for me.
Be glad you didn't get sucked into the grandfathered NinjaTrader/AMP plan with CQG. Journaling and trying to discern averaged trades like the OP is having a problem with can become a nightmare. But it keeps the brain flexible, so that's a plus, lol!
At the end of the trade you either make a profit or you don't. Accounting methods are not going to change that. FIFO isn't killing your profit; if you are not making a profit it's your system or your trading.
I think though that this is exactly what he is trying to achieve. He wants to know where he needs to get out to be at least break even on the whole trade. It doesn't matter if you make $50 on the last contract if you lost $100 on the first.
If you hold overnight it can get really messy. I've woken up to "losses" a few times which were 'green' before bed time. I'm not sure how fast your 'scalps' are and how many positions you use, but you could easily set up a spreadsheet in Excel which does your accounting manually. If it's too fast to type in manually - maybe you could establish a direct link (DDE). Would be quite a bit more work, though, but everything is possible. For me, this isn't a problem, so it's not something I've had the need to adress at this point.
Guys, we are not discussing or criticizing anyone's trades here. I'm basically talking about a problem i am facing. How in the world a scalper can use Excel? I think the user who recommends me did not understand what i am talking about. @bone i execute 100-150 trades per day. I know what i am doing and that fifo is really a pain. I use introduced broker as you said. What else can i do? Any advice appreciated.
Oh no! I never ever work with them again. I have tried them but anyways. I don't want to talk about this anymore.