I am going through my journal and I have a question that maybe someone has already figured out. Basically when I take a trade I always record the Daily Range on the D chart. Then I put in my SL in pips and then I get a % which is the SL as % of the Daily Range. This basically says how large the SL was in relation to the current Daily Range for that pair. I think this is an important stat to keep track of. I also record how much was gained or lost on each trade, another important stat.
What I am looking to do is find out how I statistically make sense out of the relationship of these two stats. What I am trying to determine is if using a wider SL in relation to the Daily Range is beneficial or detrimental.
Does anyone know what I need to do in excel to relate these two stats together so I can make sense of them?
I have attached pictures of the info for your reference. I have attempted to make graphs and the closest one i have found is the scatter graph. I am just not sure if I am looking at these two bits of info correctly.