Monitor Trade Performance

Last modified 13:46, 2 Nov 2012

sitmicon34.gifThis content is provided in support of the Safety in the Market (SITM) module for Your SOFTWARE and may not be applicable to your package. For more information, go to the Modules topic of this help.

Monitor ABC Trading Plans

Individual Trading Plans can be monitored using special features contained the Trading Plan Wizard.

Your subjective opinion regarding your trading performance both before and after trading can be recorded using the Pre-Trade Diary and Post-Trade Diary tools.

The impression recorded in these diaries will help you to reflect upon your trading attitudes and preparedness. This will assist you to become The Complete Trader described by David Bowden in Section 12 of the Smarter Starter Pack manual (3rd Edition) beginning at page 213.

The Summary tabbed page, on the other hand, gives you an objective overview of the current state of the trade. While the trade is still active, the positions that you have taken can be compared with current prices using the Recalculate function. When all trading for the Trading Plan is completed, the final statistics, together with the Net Profit/Loss will be available for review.

Groups of Trading Plans can be compared and their results collectively analyzed using various Reports found in the Portfolio Reports feature.

Pre-Trade Performance Diary work page

At the point of placing trading orders the questions in this page should be answered.

The intention of this exercise is to record your subjective opinion about your preparedness for the trade at the time the trade was entered.

There are five general questions, grab and slide the moving indicators with your mouse to register your level:

 

These questions correspond with the five groups (labeled A, B, C, D and E) in David Bowden's Trading Tune-up, found at page 225 of the Smarter Starter Pack manual (3rd Edition). Refer to the more detailed questions in those groups if you are uncertain about the meaning of the questions in the Pre-Trade Diary work page.

The subsequent review of your honest opinion of your preparedness prior to making a trade, when compared with the performance throughout the trade, and ultimate outcome, can be helpful in identifying areas in which improvements can be made in your trading techniques and attitudes.

Comparison between other trades in the same symbol, trades with other symbols, or all trades within a specified date range, etc. can be made and printed out for review in the Pre-Trade Analysis section of the Trading Plan Diary Statistics report in the Portfolio's Reports facility.

Post-Trade Performance Diary work page

At the completion of all trading for this Trading Plan the questions in this page should be answered. Ideally this should be done before viewing the Summary work page.

As with the Pre-Trade Diary, the intention is to record your subjective opinion about your overall performance for the trade, allowing comparison with the actual results of the trade and your performance, both perceived and otherwise, in other similar trades.

Use the drop down boxes to answer the four question on the right.

If you select the answer Other for Exit Trigger, explain the reason for your exit in the Notes/Mistakes Committed text box.

 

Subsequent comparison of your opinion prior to and after the trading plan is completed with the ultimate outcome, can be helpful in your transformation into a complete trader. Your analysis can be further assisted by reading Becoming the complete trader, on page 221 of the Smarter Starter Pack manual (3rd Edition).

Comparison between other trades in the same symbol, trades with other symbols, or all trades within a specified date range, etc. can be made and printed out for review in the Post-Trade Analysis section of the Trading Plan Diary Statistics report in the Portfolio's Reports facility.

Trading Plan Summary work page

The Summary work page provides an overview of the financial state of the trade, both while the trade is still active, as well as when all trading for the Trading Plan is complete.

The Summary data is populated from entries on the previous pages as well as with Your SOFTWARE's system data. However, some of the data and settings on this page can be altered by the user.

Trade Details

The Trade Details section is initially populated by the system. Users can change the point size, or view the summary in a different currency:

Trading Plan Summary

The contents of the Trading Plan Summary section will depend very much on whether the trades for the plan are Completed or still Active.

For completed trading plans, the Status will be updated to Completed when entries on the Liquidation Plan tabbed page cause the remaining quantity of securities in the trade to fall below zero.

When the Status is "Completed", all the system generated figures on the left will be fixed.

If a quantity of securities remains to be disposed of (or if the user manually chooses the Active status) the Profit/Loss and Net Results figures will be able to be changed to reflect the price selected using the Recalculate button.

In this way, the final outcome of the trade can be assessed for a variety of scenarios.

Comparing with Other Trading Plans

The Trading Plan Trade Statistics Reports, see below, allows comparison between other trading plans' summaries for a number of differently configured groups or types of trading plans.

Reports

Your SOFTWARE allows you to generate reports based on the above entries.

Trading Plan Diary Statistics Reports

The entries for both Pre- and Post Trades are collated and displayed in the Trading Plan Diary Statistics Report.

Comparison between other trades in the same symbol, some or all trades, within dates ranges, etc. can be made and printed out for review.

For more information, see the Trading Plan Diary Statistics Report topic.

Trading Plan Trade Statistics Reports

The trading results Summaries for various Trading Plans can be collated and displayed in the Trading Plan Trade Statistics Report.

Comparison between other trading plans for the same symbol, some or all other trading plans, all or some trading plans within dates ranges, etc. can be configured, generated and printed out for review.

For more information, see the Trading Plan Trade Statistics Report topic.

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