Hi all, I am using InteractiveBrokers TWS for trading. However it scatters all around and does not conveniently show at what price I entered and at what price I exited. Moreover, I would like to have more detailed information about my entrance and exit, etc. along with the market-wide indices, sectors, etc. so that I could review my trades later to improve my trading style and timing. Could anybody recommend some better trade log management software that, basically, I can keep a trading diary and keep my thoughts and numbers? Thanks a lot!
I enjoy doing it myself w/ Excel helps me w/ the light coding too...that'd be my reccommendation obviously it's as customizable as all getout once you get the tricks down...
Are you sure you are trading live, as account services with IB website will give you all the details you want about your trades. All you really need to watch is the account balance figure!
Diaries are to be hand written if you want the maximum benefit from the exercise. Get a binder. Print out your trades. Take a piece of paper and hand write your thoughts. If you just trade one or two instruments then print out the intraday 5 min chart and make notes on it where you got in and got out. Talk about embarassing yourself lol. Staple the material together punch holes and put in binders. Any particlular chart patterns that you like just print out examples and tape to wall. The idea is if your chart don't look like any of those key setups on the wall then just forget it. If you only trade a couple times a day its easy but if you trade 50 times a day its going to be impossible to keep up with. John
That's exactly what I am asking -- what's the most efficient way to do trade recap and trade review. And to learn from my past lessons? There are so many trades and so many stocks/options/futures to keep track of...
Its hard if you trade a lot during the day. The most thorough way is to print out a chart of the instrument you traded and mark it up where you got in and out. Then maybe on the bottom of the chart you write why you got in and out during the day. What was your strategy for that instrument etc. John
This is a simple tool: http://nces.ed.gov/nceskids/createAgraph/default.aspx but it allows only 50 data maximum.
Use MS Excel, it is one the best programmes available for data analysis and manipulation, if not "the" best for the non programming person. TSW has an API that links to Excel. The manual is very good and you can automate some trades if you are that way inclined! It might be better thought to print out and attach the chart for every trade you do, as looking at figures without the chart is of limited value.