I am a newbie trading on a demo account. I am in the “Graduation” section of the School of Pipsology".
I need some help with how you record your trading journal statistics. School of Pipsology course recommends extensive statistics (i.e. win %, loss %, average win, average loss, payoff ratio, etc, etc). However, I could not find a spreadsheet created for that purpose.
Excel is not my strong point, so I need some help. Not sure I could put those types of functions in a spreadsheet myself. Is there a spreadsheet somewhere I am missing or is everyone but me Excel masters ? What was your solution for recording your trade statistics?
lol I’ve worked in Excel in high school, all throughout college, and even currently at my 9to5. But, the formulas are pretty simple, nothing complex. I track basic stats like my winning/losing % at the end of every trading week, along with how many wins/losses I had throughout the week, what pairs I traded, and notes for why I took the trade, etc. You can even go as far as adding a basic graph so you can visually see how well you’ve done. But, Google is your best friend when it comes to figuring out excel formulas, or just anything for that matter
I log every long-term trade - if you don’t know what you’ve done, how do you know if you’ve done it as well as you could have or should have?
But like with all research, start by posing the questions you will need to answer, and this will tell you what data to collect. I see most trade journals track the entry price, the exit price, the stop-loss price and the what-not price. Why? In 6 months’ time what will these numbers tell you?
TJS Trading Spread Journal is an excel trading journal with all the bells and whistles that allow you to track your trades as well as track your mistakes. It has great features however it takes a little getting use to but once you get into a habit of recording your trades it is brilliant.
Also look at Notion.com they are a bit like Trello and it is a great tool for recording a trading journal. Also as a bonus it is free.
Unfortunately not. But you can screenshot trades and upload them to Notion for future reference.
Same with TJS Trading Spreadsheet Journal however with that you can make trades with what you did right and what you did wrong as well as what entry and exit strategy you used.
Thanks very much Blackduck. This is exactly the type of help I was looking for…don’t want to have to re-event the wheel. I will check out both of these sources.
To use as a PIM - Personal Information Manager. Notion looks very promising and can even be used to keep a trading journal. I’m going to play with it this weekend.
? What was your solution for recording your trade statistics?
