5 essential metrics you can track using a trading spreadsheet

trading-metrics-trading-spreadsheet

Regardless of your level as a trader, I always believe that good record keeping either through a trading journal software or trading spreadsheet is required for anyone that wants to become successful in trading. These tools help you really understand what goes on with your trading performance from a statistical point of view removing all emotions, judgements and ambiguity from your analysis.

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Your own trading back office

We are pleased to announce new features to improve your trading performance and track every aspect of your trading business.

You can now view the average time spent on losing vs winning trades. If you are spending more time holding on to losers, you are not managing risk very well, thus not following your entry and exit rules. Ideally, you want to hold on to winners longer or at least for the same time as your losers. Discover how this metric works by viewing your kpi report. By the way, this is a paid feature.

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Ranking your trading strategies

At Trademetria, you can tag your trades according to the strategy used and discover your best and worst strategies. This feature also helps you backtest new strategies and keep track of the results.

This feature is very important because when you trade, you need to know what strategies have higher probability of profits. Pulling the trigger will be easier and you can trade with more confidence. On the other hand, if a trade appears on a strategy that is not likely to generate profits, you must think twice before entering the trade or not enter at all.

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How to become a trader

how-to-become-a-trader

I started trading back in 2001 when my college buddy recommended to buy INFA. I bought 200 shares at $14 and held it for two years selling it for $8. Thanks for the tip buddy! During the next few years, I wasted a lot of time and money trying to learn to trade by myself. All and all, I lost around $5K after “playing” for about 3 years before work. I took some time off and decided to give trading another chance, but this time a real chance. I started trading in a prop firm where I had all the necessary tools to succeed. Under this new environment, I had only 4 down months out of 48 during my trading career. Most importantly, I only lost about $1500 to reach profitability. Pretty big difference from when I tried to learn by myself.

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Ranking Instruments

At Trademetria, you are one click away from discovering  your best and worst instruments to trade. This is important for any trader because you don’t want to waste time trading instruments that are not profitable. Instead, you must be agressively trading the ones you are great at. This report gives you hard evidence of what you should be trading.

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Tradervue vs Trademetria

We created this post for users who wish to use an online trading journal solution that can offer a robust set of features at an affordable price.

In this post, we compare Tradervue vs Trademetria. Both products were created with the active trader in mind. They have features to add multiple trades at once from multiple brokers and plenty of metrics for day traders and scalpers.

Keep in mind that we don’t have an account with Tradervue. This is a “best of our knowledge review”.

Features Trademetria Tradervue
Track multiple accounts Yes No
Track adjustments like withdrawals, deposits, platform fees Yes No
Report exclusively for daytraders Yes No
Set default commission and fees Yes No
Trade Tagging Yes Yes
Pnl by instrument Yes Yes
Pnl by time and day Yes Yes
Pnl by market condition Yes Yes
Pnl by trade duration Yes Yes
Pnl Projections Yes No
Module for managers Yes Yes
Advanced statistical reports like MFE/MAE/R No Yes
Multi-currency Yes Yes
Trade sharing No Yes
All basic key metrics like profit factor, win rate, etc Yes Yes
Plot orders on chart No Yes
Real time quotes for open equities positions Yes Not sure
Overall usability (from 1-10) 8 4
Price $19.90/mo $49.00/mo

Anything else you would like to add? Please share below.