Is there any program (preferably free) where you can input your trades and get an analysis of your trades? I use MB Trading, and as far as I can tell, they do not offer a service that shows you statistically your overall progress. Thanks for your patience.
An Excel Spreadsheet
Thanks for the response. I’m already using an excel spreadsheet. I was hoping for something that will show me some graphs, with everything already calculated. (i.e. maximum drawdown, win rate, loss rate etc…) I know all this is easy to calculate, but just wondering if there was a program where I could easily input my trades and have all this calculated for me (without having to set up all the formulas on excel). Thanks again
I would like something very similar myself, I know most traders develope these things themselves or buy a program to do it for them…so it may not be free
Oh man, I was in that situation a few months ago. I would’ve paid for that too if I had too and was a little disappointed my broker didn’t have much stats on my trading performance, but now I’m glad they didn’t.
I had some decent Excel practice from my school courses, so I thought I could make some kind of crude tracking spreadsheet. Well now, I’ve gotten more than I could have ever hoped. I can pretty much get any statistic I can think of, some take some work, but I didn’t mind that (there’s places that can help though too). Graphs too, I have a really ugly, practical-only one now, but I know Excel could get it looking pretty good if I took the time. Same for the layout.
Anyway, if you are serious about trading and want to pursue it full-time, I’d have to recommend making your own trading spreadsheet, the flexibility makes it worthwhile in the end. If you don’t know any Excel this might be challenging, but still, it is a valuable trader skill. There’s so many trading areas that are aided greatly by spreadsheets, such as your record-keeping, progress-tracking, risk management, growth expectations, accounting, etc. etc.
Excel doesn’t seem to have any features geared towards “trading” (hey, maybe they will add it if you talk about it enough on the net!) so if you need some tips for making excel do things it wasn’t designed for, I’d be glad to share my tips and shortcuts. Happy trading!
if you guys can’t run a spead sheet i would really be thinking twice about forex trading,
why are you trying to complicate things, your either on the plus side or negitive side each month, if you end up on the losing side more then the winning side its time to change your trading style.
not rocket science people.
fwiw- it took me right around three years to find the winning combo, back when i started trading there was no websites like this.
but now i do win, alot ,10% a month.
abner… trust me I know how to use excel, I’ve used it a lot. I was just looking for a program where I would input my info and I could see my progress displayed in a few different forms. Whether to know how to use excel or not, and be successful in forex, I think is besides the point. I can guarantee that you have at the least a hundred times more experience in this than I do, and I appreciate your input. Maybe some day, with more experience, I will be able to decipher all the bull cr** and see (like you) that the less complicated things are- the better.
But for now, I’m still looking for that program if anyone can help me out that would be great.
Thanks again for your patience.
p.d. I do have a spreadsheet going with a couple of graphs for the meantime. 
You can follow and analyse your trades plus you can also use functions to execute positions from Excel to MT4. Google fxdialogue
Excel sounds perfect for that. It has excellent graphing capability. Just input your data in a column and graph it. It’s easy.
There is a trader who sells a program i dont own it i dont even know his website.I do like his videos on youtube on the mental part of trading it is under Traderbrian.
On the Excel topic, I was wondering if anyone knows of any useful guides / how to for traders spreadsheets?
Or even if discussed in forex / traders books (or similar)?
I think the easiest way to track your trading progress is your account balance:) if its going up, your doing well, down… hmm not so well… lol
I made a access database and I manually enter all my trade results, time consuming yes, but access is easy to display your results… monthly,weekly, daily by currency pair… what ever you want to do with it.
The only thing I don’t like about Access is it doesn’t have the graphing ability that Excel has.
MT4 has a good statistical summary that can be generated in the detailed summary report.
I have been thinking lately how to do these things in Excel, but hadn’t gotten far!
I would be interested in some tips re the spreadsheets for traders in Excel.
What tips have you got? :-}
Thanks
The founder of IBM, Watson Sr., said the best tools for thinking is a big pad of paper and a pencil; me, I throw in a calculator too.
Thats not as silly as it might sound.
I am/was thinking about keeping a log of my trades on paper in a book as well as electronic, but I was starting to think that that might be overkill.
?
I’ve kept a trading log of all my trades based on the system I’ve been testing for well over a month now. Recording notes per trade (why I took it any why not), profits, losses, analysis etc…
It sounds like overkill but it helps a lot to just look over your last week, and see all the things you did right, wrong, and tweak what you need without completely think what you’re doing is wrong/right.
Example, I found myself on many of the losing trades pulling the trigger too early. I’d noted it several times. Only by seeing it on the papers though I figured by waiting for extra confirmation I’d take less losing trades. Made the slight change in the following weeks and the W/L ratio has increased in my favor. Nothing major, but an improvement nonetheless.
EDIT: When I get the chance I’ll post up a scan of one of the pages from my log so you see what I mean and what I record.
Yes, very logical. In order to be a successful trader you must be born with the ability to use Microsoft excel.