The BASICS of Trade Management

[Guest bear]

1- We have the Plan

2- Execute the trades

3- The log to monitor and analyse methodology

 

Problem: 

 

With span of multiple pairs to keep track and prefering glance of few seconds;

 

need report in basic English of:

 

pair/ lots/ long or short/ risk % / execute open and close / pip or $ loss/gain/ remarks to highlight pointer of particular trade.

 

All i see are frustrating jargons. (not that they are)

 

want to see eagle eye 5 seconds "how's things performed", but after I execute test trades of eg. 7 pairs. in 4 hours time frames. i come back to review results.... I basically do not know how to read the English here. I just want to know. "OK, i long this pairs, short this 3 pairs. pip loss/gain / $$ loss/gain

 

THAT'S it, without having to look at Account as a whole.

 

Can someone please make basic English to "Eagle Eye" as a strategist...I do not think it good to depend on notifications when a trade closes. 

 

Eg. On 25th Dec Friday, 2020, 1200, EST time, 

trade opened EURUSD 1.x.x.x/ 2.0 lots/ Long / open-1.02, close-1.12 / +10 pip / $10 (any accountancy format) / remarks which trader can type in as a journal, reflecting on reasons of execution, although this feature is not too critical as we can put it in our own trade log.

 

It is frustrating and of course i have not touched or keen to trade live until now. No hurry to me.

[Guest bear]

here is why:



 

as some traders are intra or swinger, we do not mug down for hours in front of terminal. we just plan. execute accordingly and come back hours or next day.

 

Thing is, I want to SPECIFICALLY check the loss/gain / range / % etc of that pair.

And I come across lots of screens which will require time quantum to digest.

 

I just want to glance (Eagle View) few seconds. "ok, that's working..need to adjust this etc"  pronto

 

that's it.

 

what we have is: we need to scour around for the information (i still cannot) and eventually, I had to look at the overall account to gauge if loss/gain.

 

It is not precise to per trade (or at least ,conveniently and easily available)

 

Eg. why not have something like MT4/5 logs. That makes simple and good sense.

 

[Guest bear]

Hi Casey,

 

your right,

 

I have been using MT platform for ALL the brokerages I tried...

 

hmmm... so far, there really is no prefect one at all.. i am sure the brokerages know...whatever reasons they do what they do.

 

yes.. i have been keeping log in excel etc.

 

thing is, if i execute 4hr time frame and com eback next day.. the mystery is still.

 

how much pips i gained yesterday in EURUSD

how much % lot/size/profit EURJPY did

 

BUT... all i can see is collective result in account...IF I trade 8 or 9 in spread betting...how am i supposed to analyse individual currency pairs performance for certain strategies?

 

still have to use MT, then what is the brokerage platform good. except forcing the more pro traders to use bloomberg and tradingview..

 

hmmm.. the brokerages have their own reasons......