Managing Strategies

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Managing Strategies

Saving, Opening and Organising trade strategies is an important part of keeping and maintaining a good trade management system. The power of Your SOFTWARE is its ability to find and analyse high probability trades and then manage these trades for subsequent analysis and performance evaluation.

Saving a Trade Strategy

The trading strategies constructed and analysed in the Option Analysis work pages can be Saved for further analysis and used to keep track of open positions on a day by day basis in a market. The Save or Save As… function can be accessed via any of the Analysis tab pages (Strategies tab, Graphs Tab and Summary Tab).

Saving Via Strategy Tab

Saving Via Graphs Tab

Saving Via Summary Tab

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In addition, the Save icon can also be used as a quick way to save trades.

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Trade strategies are usually saved after an Options Analysis has been performed and the trade parameters have been validated against a trading plan. A simple Put Debit Spread trade is shown below.

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Saving trade strategies within the Option Analysis work pages is a simple process. Use the Action menu to displayed the Save or Save As… commands.

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Selecting either will open the Enter Name screen, where a meaningful name for the trade can be entered. Clicking the Ok button will save the trade for future reference.

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For all new trades, both the Save and Save As… commands will be enabled.

For all existing trades, only the Save As… command will initially be enabled. Once changes have been made to an existing trade analysis, the Save command and icon will become enabled so that changes or adjustments to existing positions can be retained.

Opening a Trade Strategy

Note: Before an existing trade strategy can be Opened, it first must have been Saved.

Opening existing strategies is an important part of the trade management process. The ability to perform an analysis, then save the trade details is the first step in the lifecycle of a trade. The next and most important step is the trade monitoring process. The ability to see how a trade is performing on a day to day basis is a fundamental skill of trading. Trades will often need to be adjusted or closed out depending on certain market movements and conditions.

To Open existing trade strategies in Your Software is a simple process. Click on Options from the main toolbar and select Open Analysis.

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This will display the Option Strategies screen where all the existing saved strategies are stored. This screen can be organised into folders for easier viewing. See section Organising Trade Strategies.

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To Open an existing strategy, find the trade name that was previously saved and highlight the trade by left clicking on it. Then Double Left Click or click the Open button to restore the trade strategy. The existing trade details will open and all figures will reflect the current market prices. This is one way to get current market valuations on trade strategies within Your SOFTWARE.

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Trade adjustments can now be performed according to any subsequent market analysis and the strategy saved again with the new changes applied.

Modifying Trade Strategies

Existing trade strategies can be Edited, Renamed or Deleted from the Option Strategies screen. In addition, New strategies can also be created from within this screen.

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Clicking the New button will open a new Option Analysis where new trade strategies can be entered.

To Rename an existing strategy, highlight the desired strategy then click the Rename button. The Enter Name window will then open with the existing strategy name populated in the dialog box.

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Users can then rename the trade accordingly and pressing the Ok button will save the changes.

Existing strategies can also be removed via the Delete button. Highlight the desired strategy then click the Delete button. A confirmation window will open and clicking Yes will delete the selected strategy. Clicking No will leave the existing strategy.

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Organising Trade Strategies

The ability to organise and keep track of multiple positions and trades within a Portfolio is another important skill in the trade management process. Your SOFTWARE gives users the ability to create folders or groups to organise and place trading strategies in a structured manner.

Click on Options from the main toolbar and select Open Analysis.

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This will open the Option Strategies screen where all the existing saved strategies are stored. All existing strategies that are not sorted into Groups will be displayed on the right hand window pane within the main folder in the Groups window.

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To create a New Group, click the Add Group button. The New Group window will open where users can create a New Group Name to store trades. The example below shows a new group called Apple Trades being created.

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All related trade strategies can now be moved and organised into this folder. To move existing trades into the new Apple Trades folder, simply highlight the desired trade via a left mouse click, then drag and drop the trade into the Apple Trades folder in the Groups window. The screen below shows the AAPL Jul12 Call trade was highlighted and is being dragged into the Apple Trades folder. The cursor has changed into an arrow with a piece of paper, which shows the trade is currently being moved into the new folder.

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Users can repeat the same process until all trade strategies have been moved and organised into their respective folders. The screen below shows all strategies organised into their respective folders. All Apple Trades have been moved and all Google Trades have also been moved.

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Clicking on any of the folders in the Groups window will show the trades within in these folders. Trade strategies are now organised and can be opened by highlighting the trade and clicking the Open button or by Double Left Clicking the mouse.

To delete an existing folder, click the Delete Group button. If strategies still exist in the selected folder, the Delete Group button will be disabled. Existing trades will need to be moved out of the folder or deleted in order to enable the Delete Group button to remove the selected group.

Organising strategies into folders is a great way to keep track of large quantities of trades where the main Groups folder may become disorganised and cluttered.

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