Correctly Importing Multi-Leg Trades
If you import your trades from an MT4 broker, the time to group them into their correct multi-leg groups is at the beginning of the import process – within the import wizard as you are doing the actual trade import.
It’s simple. Within the import wizard dialog you’ll see all the trades you are about to import. If you see some that should belong in the same group you simply:
- Drag one trade onto another to create a group.
- Drag other trades onto the parent to create a larger single group.
- Click the ± sign to the left of a group to open it up.
- Right-click a trade to remove it from the group.
If you make a mistake and import your statement without having grouped some trades together –
A couple options…
- Keep the parent leg and delete the additional leg(s). Then manually enter the details of the additional leg(s) using the Allocation Breakdown button on the Trade Input tab.
- Delete all the legs and re-import the statement. Only those trades you deleted will be dark (not greyed-out) in the import wizard because the Trade Log recognizes that you already imported all the others.
If you group some trades together into a multi-leg trade that were not suppose to be in that group –
(Either they are single leg trades or were suppose to be in a different group).
- Pull that trade up in the Trade Input tab and click allocation breakdown,
- Delete the leg or legs that are not suppose to be in that group.
- If the deleted leg was part of another group, then manually add the leg you deleted in where it is suppose to go (or delete all that groups other legs too and re-import them all together).
- If the deleted leg was a single leg trade, you can either re-import it or add it in manually.
Q: Should I begin importing my multi-leg trade as soon as Leg One closes?
If you’re using MT4, you will have a much easier time dealing with multi-leg trades by waiting for all the legs to close. If all the legs are closed and the trade is done, you’ll be able to drag one trade onto the other during import and create a beautiful grouping that remains intact during import and analysis. Otherwise, if you import during the trade, while some or all legs are still open, you have to manually enter the other legs into the allocation breakdown table of the first trade imported.
Q: I thought I grouped some trades into multi-leg, but now I’m confused…
Ideally, pay attention when grouping trades during the import to see if you get the grouping the way you want it. If you are not sure, you can open up each multi-leg trade in the import wizard before you hit import, by clicking the little plus sign to the left of the trade. (Watch the movie above).
What if there is no plus sign + beside a trade as you look at it in the import wizard dialog? Then that in itself is a flag to you that you have NOT created a multi-leg trade yet. If you accidentally drag a trade onto one you did not mean to, you can release it from that grouping with a right-click.
If your confusion occurs while you are in the Trade Log, not the import dialog, then look at either the Trade Input tab or the Analysis tab and find the direction of the trade. A single leg trade has a radio selection button for buy or sell or will say Buy or Sell. A multi-leg trade looks like this