THE TRADE LOG
How Does The Trade Log Work ?
Record Each Trade You Take In Your Log
Add Screenshots To The Log For Each Trade
Mindo Pod, Forex Smart Tools Developer / Professional Trader
If your trades are simple – in and out – then you can skip this next feature.
But if you manage your trades with multiple entries or exits – this next feature should blow you away!
Do you ever add on to a good trade, increasing your position size?
Do you ever close part of your position and let the rest run for more?
Do you ever use a stop-and-reverse approach or cost-average?
If so, you think of ALL THAT AS ONE TRADE, right?
That's the correct way to understand them.
But your broker's statement shows a trade like this as two unrelated separate trades – so would an Excel spreadsheet or other kinds of trade journals. That makes it impossible to analyze or learn from later.
The Forex Smart Tools Trade Log lets you record this 'two-leg' trade as though it's one trade.
Why? Because we're traders and we know how traders think and what's really needed in a great Trade Log to help you improve your trading.
This is a screenshot from the "Allocation Breakdown" tab, where you can record as many legs of a multi-part trade as you have.
And the import wizard lets you group trades into these combined conceptual sets as you import your trade statements from MT4 or Forex Tester, or you can manually enter them yourself.
The Log then combines the results so you can see it all together – how many pips the overall trade made or lost, the equity change, the time in the trade and more.
SUMMARIZE YOUR TRADING AT A GLANCE
Quickly see the key results of your trades:
- win to loss ratio
- equity change
- average gain and loss
- number of wins to losses
- consecutive wins / losses.
Choose any period of time to summarize:
- Any Custom Period
Four time bands let you set up different time periods to easily compare with each other.
For example at the same time you can see
- The current week
- Last week
- The week before
- The week before that
DISCOVER EXACTLY WHEN YOUR LOSSES OCCUR
If you just look at your overall broker's statement or the bottom line, you might miss an important insight –
There might actually be times of the day that are consistently bad for your strategy.
The Trade Log automatically breaks all your trading down hour by hour.
You might discover that eliminating some trading times might make you way more profitable.
(That's why our motto is "Trade Smarter - Not Harder")
SUMMARY TABLES Make It Easy To See What Works
The Trade Log makes it easy to create SUMMARY TABLES so you can quickly compare things.
- Which currency pairs perform best for you
- Which strategy is most reliable
- Compare entry triggers
- Pick the best exit plan for your style
Any factor you can think of - the Trade Log makes it easy to analyze.
Isolate Any Element of your Trade Plan for In-Depth ANALYSIS
Do you trade a few strategies or EAs at the same time?
How do you know how well each does?
How can you spot those that are losers?
Use the ANALYSIS section of the Trade Log to easily break each one out and look at it!
SET GOALS: TRACK YOUR PROGRESS OVER TIME
See the combined results of all your trades each day, each week, each month, each quarter or each year.
Set your own GOALS for each time period and color code them so you can see at a glance how you're doing.
I've been going through the Money Management videos from you - they're all really good - and the one on Expectations and Goals... Wow!
The idea of setting a goal in trading - I was doing that in the corporate world - but I have no idea why I didn't think that applied to forex trading! And to make the goal based on equity growth instead of pips and money - Genius! What a revelation!
TRACK UNLIMITED BROKERAGE ACCOUNTS
Store all your accounts in one easy place: The Trade Log
- Live Accounts
- Demo Accounts
- Forex Tester Simulator Accounts
- Inactive Accounts
- Closed Accounts
The Trade Log even lets you keep multiple international accounts, even if you hold your assets in different currencies with each. The daily exchange rates are automatically stored, so your statements can be summarized and all viewed together.
The Forex Smart Tools Trade Log has all the features you need to create a complete record of all your trading activity.