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  • Thursday, August 18, 2005

    Trading Journals: Heat Map



    Reading the previous article on trading journals,which I found through TraderMike,made me think about my own method of tracking my progress.I could relate to the article especially the part about tending to focus on the winning trades so that you can reproduce those patterns.The above pie charts contain the percentage each individual stock holds as either winners or losers.The color coding denotes each individual stock and it's percentage of the graph.The stocks are listed next to the graph on each.My top traded stock this month has been NEW(In the chart it only has an "n",but should be"NEW").That is the stock I have been focused on trading intraday since it has been proven to be a money maker.The others are just icing on the cake,which by the way I believe were mostly caught on the Trade-Ideas scans.This tells me I want to keep my focus on NEW until I see that it's not trading the same patterns.Now over to the losing stocks,yeah this is the part we all hate.These are the stocks that I have lost in when traded and will tend to stay away from since they have not made me money.To be honest these are stocks that did not fit my criteria 100%.The losses were minimal on average only about .03 cents,but they still have to be acknowledged.Realize why you made bad trades and move on.Focus on the winners.The pie chart is a very good heat map to your trading progress and where you should focus your efforts.

    1 Comments:

    At 1:08 PM, Blogger txtrader said...

    Hi Eyal,
    Thanks for the comment.Yeah this is an awsome tracking tool.I believe it's intergrated through my trading firm's data which tracks all my trades.Kind of complicated.If you don't trade a lot I'm sure it could be manually done in excel without too much hassle,but don't quote me on that.Sorry I can't give you more right now,but I will look into it for you.They have a few good tools like this that are pre-built so I can just focus on my trading and review the stats.

     

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