The Forex Smart Tools Trade Log offers some of the functions of a mini-spreadsheet in the form of the Calculation type custom parameter. To understand its use, we present a series of examples for you to study.
You can use the Calculation custom parameter to record the risk profile you actually used for each given trade.
- Set up two new custom parameters for pip value and balance at time of trade, both of type ‘number’
- Go to the Trade Input tab to activate the new custom parameters, then return to the Setup tab
- Click on the standard parameter Stop used
- Create a new custom parameter of type ‘calculation’ for the risk used
- Enter the formula in the calculation builder dialog:
(stop used x pip value x lots) ÷ balance at time of trade
Here’s a brief movie showing these steps: