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1. Recording trades: Record transactions with multiple targets.
In this section you can record your trade details including, quantity, instrument type, entry price, exit price, entry time, exit time, buy or sell, profit, strategy, pip value, spread, market and comment. Basically all the necessary data you need to allow you to prepare future trades, and analysis the success or failure of a particular trade.
If you have multiple targets, you can record all of them at the same time.
The TradePlan System will display targets belonging to a single trade in the same background colour.
When you add new trading records, TradePlan will automatically calculate the profit or loss once you have entered: Quantity, Entry price, Exit price and Action (buy or sell)
2. Reporting: TradePlan incorporates a powerful search engine, and allows you search trades with specific criteria, such as Date, Strategy, spread, instrument, buy or sell, strategy, market, and account.
Search records under particular broker and account (or all brokers, all accounts), instruments, spread, actions (buy or sell) within any specified date range.
Based on your search results, the system can generate customized graphic reports with varying time frames such as daily, weekly or monthly. These can be represented by bar charts and line charts for both accumulated and non-accumulated profit/loss data. TradePlan also offers text-based equity reports on your profit/loss in details from the perspective of any strategies for review.
3. Risk management: As mentioned above it is vital to calculate maximum risk potential. Dependant on your account balance, quantity of lots traded, stop loss and pip value. TradePlan’s Risk calculator can compute the value of a blank field provided you have entered your data in the remaining 4 values.
Values to Formulate include
Risk factor – Expressed as a percentage of Account balance
Account Balance – in Currency units’ e.g. Dollars
Quantity of lots to be traded
Pip value – in Currency units e.g. Dollars
Stop loss - expressed as a number of pips in the trade.
These five values can be computed exclusively once any of the other four values are entered, allowing you to quickly calculate any value you need to know when deciding on a Trading Plan.
4. Strategies: TradePlan allows you to Create and Manage an unlimited number of strategies, e.g. Swing trading, Overnight, Pre set Stop loss and trailing etc. You can change or remove any of these from your data base whenever you like.
When you record a trade, you have the option of selecting a strategy from your strategy list, using a simple drop down box for ease of implementation.
You also have the ability save Screenshots and any other documents with your created strategy for a more complete trade record.
Save screen shots, and any documents/files in each trade/target and you can easily access to them when you review the relating trading record.
5. Profit calculator: TradePlan allows you to calculate trade performance in pips or Currency. After you enter your entry price, exit price and action (buy or sell); Once again TradePlan offers a Formulae driven calculator to allow you to readily calculate any variable once you have entered the:
Entry price
Exit price
Action (Buy or sell)
Profit / Loss.
6. Account management; Using TradePlan you are able to create multiple brokers and accounts. These are easily accessed by a simple drop down box. By simply accessing your chosen Broker and account you are able to access all the relevant data for that particular account. You are able to create, edit and remove accounts and assign an initial balance to each account as per your own requirements, allowing you total freedom in managing the accounts independently.
7. Instruments: As with Accounts Management, you have the freedom to create unlimited instruments. Giving you the flexibility to concentrate on the trading pairs you want to concentrate on. For example, “GBPJPY” for Pound / Yen you have the ability to change or remove it when required.
8. Daily rules: Many if not all traders have formulated a preset List of Rules. These are established to try and reduce or preferably eliminate impulse or emotionally driven trades. While not always 100% effective, these rules are essential. If not for any other reason than to monitor what went wrong in a particular trade. TradePlan allows you to Edit and or add to your Daily rules and record them as a Note Pad on your screen.
9. Market management
As with all other variables to date TradePlan can also allow you to create, edit and remove markets. For example the London, US or Asian market can be added as a variable to a trade and recorded for future analysis. Data from this variable can also be migrated over to TradePlan’s graphic reporting module to prepare a visually simplistic representation of an otherwise complicated scenario.
Other features:
TradePlan will calculate total spread and profit/loss under your search. You can easily work out how much total spread you paid last week to your broker or how much spread you paid for your GBPJPY trades, or the Gross income you earned last week on all EURUSD trades.
Customising your TradingPlan.
TradingPlan allows you to manage your own individual data including
Setup and change your own user names and passwords.
Setting your initial balance for each account. Adding the facility to change it at anytime if required.
Set your standard pip value, and allowing you to change it at anytime if required.
Set currency format
Set the number of trading instruments you want the TradePlan display in one page
Set display mode: You have a choice of two modes, compact or full mode.
