Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Would you use Trade logging & Profit/Loss reporting software to plan/analyze trades?
I've got a question for those of you that use trade journals. I've always wanted an application that allows you to plan trades, log executed trades and show you historical PnL, Equity Curve plus a host of other reports in order to find your weak spots and become a better trader. So much so that I'm considering building one (I'm a software engineer by trade).
May I ask, do you use something like this?
If so, what features do you particularly like / dislike, or wish were in it?
If not, would you use something like this if it had a certain feature set?
Features I'd personally like to see in such an app would include the following, but how well does that match up to what you as a trader would want to see?
Create multiple portfolios or books with different trading goals
Logging trades to portfolios which then calculates the live PnL (value) of the trade
Reporting to show historical PnL, Equity curve graphs, live equity / PnL
BM and I have had our try here: Trading Metrics for journals/record keeping
Or rather still have, as it is an ongoing project, at the moment I am trying to convert large parts of the Monte Carlo calculations to VBA..
But it does only a fraction of the things you mentioned....it might be a starting point though.
Put your superpowers to building a super strategy that pulls ticks/pips out of the air...
I do not need it personally. I do not believe as a discretionary trader that analyzing your trades to the nth degree is of value. I believe you let go of your trades, but if you have specific setups and you can't figure out what you are doing wrong with your trading then it is of value.
There are different types of people in this world and some love to analyze, analyze analyze... Others, like to push the button, others like to talk about it, etc..
NT does everything I need.
This question might be in the wrong area in the forum though.
Hey there, thanks for your replies. Yes what I wanted to gauge was, is there something I could use myself or if not, would it be something people would used if I built it ;-)
Regarding pulling pips from the air, oh yes the holy grail, but its so ephemeral.
@vvhg by the way your link cannot be found. Do you have an updated one?
Sorry.
I'll update that as soon as I'm back in front of my pc, as I have no idea how to do that on an ipad....
If you want to have a look in the meantime, it's one of the sticky threads in psychology and money management subforum.
I do use trade logging software. The most important is the statistics. It helps to see how close you are to your model, and on a day to day basis it is harder to see the whole picture.
A running median and standard deviation of returns is mainly what I use.
Might be more cost effective to just use one of these. Not sure what your hourly rate is or how long it would take to build something along these lines but these are pretty reasonable. I have used the first one and i like it.
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
