I read about many Excel functions that help you calculate risk management, pivot points and many other.
What do you use? is it usefull? what functions whould you want to use that you don’t have today? Thanks
I use excel for anything and everything I can think of, not limited to:
-lot size calculation (risk management) for whether the pair is in US dollars, yen, pounds, NZ dollars
-histograms of win/loss sizes in pips
-pie charts showing trades by currency pair
-pie charts of % wins, losses and break-evens
-bar/pie charts of win ratio, average pips, etc by each currency pair
-pie charts showing trades by day of the week
-pie charts showing trades by what hour of the day the trade was placed
-line charts of balance ($) over time
-line charts of balance by pips over time
-wins/losses whether they were long/short
-many more
I separate results by daily, weekly, monthly, tax-year, etc.
Basically if I think of something or read about more metrics ideas (such as on today’s blog by Dr Pipslow), I will find a way to display it in graph form on excel. I’m currently in the middle of doing the lot size versus win/loss ratio as suggested by the blog.
There are some automated websites that can also do some of these metrics for you such as mt4pips and zulutrader but I prefer an offline method.
Some traders use Excel sheet to manage trading data and it is called excel trading. Even though I did not use excel for trading so far.
Excel is awesome! I use it as a journal for my trades and also my back test results and analysis similar to kwyjibo above. There aren’t really many functions you use, just a matter of using normal mathematical functions and if statements really, well that is mostly how I use it.
Absolutely i have several spreadsheets that i use to keep track different aspects of my trading and log them over time. they are critical in my weekly self evaluations and refining myself and my system.
There are some tools available for Excel which makes the process of testing the results of the trading and also analyzing them over the weekend 
I always calculate my risk before i enter a position. Usually it is 2 to 4 percent. Very important.
If you want to track your trading performance then why not use MT4i or Myfxbook?
It’s so much easier to have it automated. And it’s free.
- Easily rigged (I’ve done it)
- Inaccurate
- No room for comments
- Limited in analysis
- Excel has more flexibility in what you do, as well as further analysis methods
- Manually recording thoughts, comments, trades actually helps since you are writing/typing it, and you can learn about yourself than having it automated
Lots of reasons.
Hi guyz, can you share any Excel template that could be useful in Forex trading? Thanks.
Thank you all guys ! you have been really helpful !
Excel is a useful tool to keep a track of every single trade you make. After enough time, you’ll notice patterns appearing. You may notice that you’re always losing on a Monday, or you may be making poor trading decisions. This will eliminate the things that aren’t working for you and allow you to focus on the things that actually work. It’ll also be an invaluable tool in helping you avoid making mistakes more than once.
Using an excel sheet is definitely helpful in tracking all aspects of your trading, from your profit & loss, money management, position sizing, goals, etc. You might as well use one which is already created.
hi guys! can somebody tell me where i can find those “already created” excel sheets?
Hi! I am newbie. Can somebody please sent me on my email govinvest.yahoo.com (or share here) an excel sheet already created?
Thank you very much in advance.
I agree, please share!
Hi fellow traders! I think we should be more honest and more practical when sharing information. Here is my trader’s diary on excel. Who will show next?
A trading journal is unique for every trader. There is no one size fit all. Instead of begging others for theirs, why not actually make one yourself. a) You’ll be familiar with it b) You can customize it anyway you’d like.
If you’re that lazy, just go Google, and you’ll find a couple that you can buy, and they’ll be more comprehensive than anything… And you won’t understand 60% of their calculations and what they actually mean.
Hi, guys.
Do you know a way to access statistical data (win/loss %, max. drawdown, etc.) for NON MT4 users?
Thanks.
I downloaded one for free from the Trader’s Bulletin website. It’s a pretty basic Excel spreadsheet, but does the job - it’s quite a good starting place, and I’ve added some extras as I’ve needed them.