What are the most effective tools for tracking your trading performance? (2024)

A journal is a great tool, especially for beginners. It aids in reviewing and analyzing your historical trades to identify areas for improvement. Supervising and learning from your trades is crucial for understanding strategies. However, as you gain experience, the best approach is to develop a dashboard with the help of either your broker's API or third-party tools. In forex trading, several freely available platforms, such as "myfxbook.com," exist to help traders analyze past performance without the hassle of manually entering trades into a journal or spreadsheet. Another effective method is to utilize "Tags" on orders."

Having a trading journal happens to be one of the undermined aspect in technical analysis.I have collated a survey multiple times. On average of 20 junior TAs, less than 10% keep trading journals. Above 80% started with journals and after a while, they dropped it.The effect of that is, it does not help in accountability and review. To evaluate becomes difficult task when there is no trading journal in place, it is highly important and recommended to have a trading journal and record every single detail of your trading activities.

Effective tools for tracking trading performance include trading journals, spreadsheet software, and dedicated trade tracking platforms like TraderVue. Brokerage and algorithmic trading platforms, risk management tools, and mobile apps also offer valuable tracking features. Additionally, psychological evaluation tools such as PsyQuation focus on emotional aspects. Choose tools based on your preferences, trading style, and analytical needs for regular performance reviews and strategy refinement.

Hacer un seguimiento a cada operación permite no solo llevar un registro de las operaciones sino para llevar un control de toma de decisiones... el "por qué?" De cada operación y como se va fortaleciendo el análisis en la toma de posiciones.Personalmente llevo un formato en Excel con información de niveles de compra, venta, SL, TP, y observaciones para saber porque decidí abrir una operación.

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Skip the journal, export your trades into a spreadsheet, or just use the built-in trading records. Alternatively, write a program to collect this data to automate the process and allow more time for research.

A regular brokerage account with a desktop app like ActiveTraderPro is more than enough to display the metrics, P/L, suggested strategies, and trading records.

La plataforma más conocida y usada es tradingview, y es una de las que se esta actualizando de manera continua, y es muy intuitiva al momento de usarse por su facilidad, pero si queremos sacarle el mayor provecho, con la creación de scripts o programar ciertas estrategias que son usadas par analizar el mercado se requiere una capacitación de mayor profundidad en su lenguaje PINESCRIPT, sin lugar a dudas es una excelente plataforma, otras opciones son: STOCKCHARTS - FINIMIZE - PROREALTIME - METATRADER (SQL) - KOYFIN - FINVIZ - BLOOMBERG - SIMPLYWALLSTREET - GURUFOCUS - MARKETWATCH -ESTIMIZE. solo por mencionar algunas

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Trading simulators are good for someone who has never traded before, but it is nowhere near the same as actual trading. Takes the emotion out of trading, which causes the most losses for the average person.

1. Commit to an entry price2. Set your exit target3. Place conditional order based on this4. Removes the human element in trade execution and reduces impulsive buys and mistakes

El plan de trading es básicamente definir cuales son las confirmaciones para tomar una posición en el mercado y es algo muy personal que varia de trader a trader, ya que dependiendo de su estilo, R:R y estrategia, cambiaran las variables.

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Forums are a better resource than a single mentor. A lot of traders specialize in one area, whether it be derivatives or equities, ETFs. Forums allow the trader to obtain knowledge from all the subject-matter experts. Also, as the world changes, so does the market. Traders from 30 years ago wouldn't be the ideal mentor for someone trading in 2023.

Es una gran ayuda disminuyendo la curva de aprendizaje, sea tanto para análisis fundamental o técnico, y es primordial que exista cierta conexión entre mentor y aprendiz, en ello radica gran parte del éxito y se pueda tener un aprendizaje y resultado exponencial. Claro esta que también es importante definir cual es el mercado o activo en el que desea especializarse para ser aun más ameno el proceso de desarrollo intelectual.

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una comunidad o hacer social trading es una experiencia enriquecedora que permite aprender de errores ajenos, compartir ideas o perspectivas de mercado, mejorar habilidades, incorporación de algun tip que funcione a nuestro modo de operar, zona de debate entre muchas otras cosas, pero todo orientado a la formación del especulador o inversionista dependiendo el caso en particular

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