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.

Let’s take a look at some sample data to see how it benefits traders.

stock-rankings

The first column shows the most profitable instruments. It gives your total pnl, your average pnl per trade followed by the number of trades. The number of trades is important because sometimes you could make a big trade on a stock or contract moving it to #1, but it does not necessarily mean that you know how to trade it based on a single trade. Another important observation is the average pnl per trade. KWK is the best stock, but the trader traded it 33 times making only $7.20 per trade while #2 STJ has a much higher average per trade and therefore is much more efficient instrument to trade than KWK.

If your xls spreadsheet only sorts by pnl, you are missing out on some important data that can definitely impact your trading decisions.

When should you run this report?

Typically, this report should be used when you placed enough trades over the course of at least 5-15 trading days. Nobody can master an instrument by trading it 200 times during a single day. It takes many days and many trades to understand how instruments move because markets are dynamic and players change frequently.

Active traders typically run this report once or twice a month deleting their least profitable instruments while putting the most profitable ones on top of their trading list.

Pro tip: On trademetria, clicking on the instrument will pull up all trades for that instrument.

You can see a video explanation of this report at:

This report is available for free when you open an account at Trademetria

 

Ranking Instruments
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