Often trading is considered to be simple or somewhat straightforward. But in truth there are a lot of intricacies associated with proper trading, and seasoned traders are fully aware of the importance of keeping an eye on their trading performance. While some traders keep a trading journal or a form of record to try to keep track of their trading performance, things could be much simpler by making use of the Fxmerge service. This site has rendered trading much more effective and considerably better thanks to the tools it offers. The site was not established long ago, but within a short period of time it managed to exceed traders and users’ expectations. The main goal behind Fxmerge was to offer the best possible support to traders. Since many have various trading accounts, it is not that easy to keep track of all trading activities, and logging in several times in different accounts is both time consuming and inefficient. Everybody is very busy, and time is so limited. Besides in trading timeliness and prompt action is of the essence – we all appreciate this! Thus, unless one is monitoring what is happening in the market, and watching how things are unfolding in his accounts, there is a good chance of acting rather late, or making inefficient decisions. Trading decisions can improve thanks to Fxmerge, and as many users explained, they noticed impressive improvements in their trading performance since they started using this service. The minds behind Fxmerge had one mission in mind when creating it – that of offering assistance and support to traders in a tangible manner. Rather then sticking to the traditional aspect of support, Fxmerge went a step ahead by creating this service for traders to gain access to clear statistics which are obtained from the trader’s accounts. Fxmerge works with both Metatrader 4 and Metatrader 5, which are both widely used by most forex traders. Upon registering for this free service, the user’s trading performance from the accounts gets downloaded and clear and accurate statistics are generated from it. Moreover, Fxmerge is a great site for traders who want to learn more about trading in general. The community section is a great place where users discuss various topics related to trading. And there is no denying that there are a myriad of other Free tools at users’ disposal on the Fxmerge site, including the Forex Manager, Forex Risk Tool, Outlook Indicator, Forex Trade Copier and the Forex News Indicator, among others.
If you test different systems this way you can check the results of each strategy separately, in my opinion it is very helpful in trading.
In 3-4 weeks, additional languages will be added to the Fxmerge website, i.e: German, French, Korean, Chinese, Polish, Japanese, Portuguese, Spanish, Swedish, Vietnamese, Turkish.
Measure your trading performance is very important so you know whether your strategy works or not. There are few factors that you need to measure like: drawdown, holding time, win/lose statistics. Trading is about consistency for long-term gain so having a consistent % of return monthly is better than 1 time gain and then loose everything.
This is really an informative and nicely written post. Tracking down the trading performance is very important as it acts as a reference for future trades and also prevents from repeating any past trading mistake.
I prefer to use excel sheets to record my trading performance. Is there something special in the website you mentioned that can make tracking more simple as i’m someone who never felt the need of using something else.
Keeping track of trades on an excel sheet is the best idea. Even I prefer doing this. My sheet includes the date and time of the trade, the traded instrument, entry and exit points, direction of the trade, position size and the result of the trade.
I prefer to do it automatically than waste time to counting, if you use one or several different strategies, so Fxmerge is a good solution. Since yesterday the service is available in 13 languages and offers many free tools.