Forex Zone - Forex Forum

Tools and instruments used in Evaluating Trading results

Discussion started on General Forex Discussion

  • Newbie
  • Posts: 35
  • Points: 537
  • Likes Received: 0
  • Reputation: +0/-0
In evaluating our trading results, there are many strategies and methods and instruments that we use to measure the extent of our success in pursuing the Forex trading business. In your opinion, what tools and instruments do we need in evaluating our trading results? Please input and enlightenment

Linkback: https://www.forex.zone/general-forex-discussion/1/tools-and-instruments-used-in-evaluating-trading-results/3632/
#1 - December 06, 2021, 10:19:18 PM

  • Hero Member
  • Posts: 619
  • Points: 184
  • Likes Received: 8
  • Reputation: +0/-0
In my opinion there is no need for special tools to evaluate our trades. We just have to look in MT4 about the history of transactions and see where we often make mistakes
#2 - December 06, 2021, 10:37:12 PM

  • Hero Member
  • Posts: 2600
  • Points: 165
  • Likes Received: 176
  • Reputation: +1/-0
the use of MetaTrader is no stranger to those of you who are using trading as a business, so indeed when you can use MetaTrader well then it is certain that you can use the tools in the world of forex trading, you just need to add the indicators in it.
#3 - December 06, 2021, 10:44:03 PM

  • Hero Member
  • Posts: 4506
  • Points: 1946
  • Likes Received: 361
  • Reputation: +10/-5
The tool used to evaluate is your travel history by looking at the history and you can see what was your fault that you have done so you can change it or fix it, that is the easiest way. If you are wrong in using indicators or cannot use indicators, then you learn first.
#4 - December 08, 2021, 02:51:10 AM

  • Full Member
  • Posts: 141
  • Points: 661
  • Likes Received: 0
  • Reputation: +0/-0
the easiest thing is to do a capture or screen shoot every time you enter a position and do it when it's clear, and times the date is also every capture, so once a week on saturday do a re-check
#5 - December 08, 2021, 11:24:24 AM

  • Sr. Member
  • Posts: 252
  • Points: 757
  • Likes Received: 0
  • Reputation: +0/-0
We can use a trading journal, that is, we make daily notes every time we trade or open a position, why we buy or sell, how many lots we use, whether the trading results are profit or loss and other reasons.
#6 - December 08, 2021, 11:25:35 AM

  • Hero Member
  • Posts: 4322
  • Points: 2127
  • Likes Received: 232
  • Reputation: +20/-15
the tool to evaluate what went wrong we really don't exist maybe only our brains work so we have to know how so we understand for the umpteenth time using a trading plan well so we know how to move forward even better
#7 - December 08, 2021, 10:10:43 PM

  • Hero Member
  • Posts: 4506
  • Points: 1946
  • Likes Received: 361
  • Reputation: +10/-5
I don't use any instruments when I do an evaluation what I do is how to evaluate my system, most of my systems are the same, I should use simple indicators.
#8 - December 10, 2021, 02:48:57 AM

  • Full Member
  • Posts: 141
  • Points: 661
  • Likes Received: 0
  • Reputation: +0/-0
Note what I mean is the success or profit we get every month, for example, if 2 months ago we made 15% profit / month and in this boast it decreased to 10% of course there is something less than our trading this month and of course this is what we will fix in the coming month.
#9 - December 10, 2021, 11:34:18 PM

  • Sr. Member
  • Posts: 252
  • Points: 757
  • Likes Received: 0
  • Reputation: +0/-0
it is very important for the continuation of our trading but what I often see are many traders who do not want to do that but prefer to switch trading techniques when someone shows off their profit results even though it is not necessarily the new technique that he can run well
#10 - December 10, 2021, 11:35:14 PM

  • Sr. Member
  • Posts: 485
  • Points: 1000
  • Likes Received: 2
  • Reputation: +0/-0
We have a trading plan, so if the trading plan works, it means the trading was successful. Because trading goes according to plan. Each trader has their own trading plan so we can judge for ourselves.
#11 - December 10, 2021, 11:36:17 PM

  • Hero Member
  • Posts: 906
  • Points: 92
  • Likes Received: 64
  • Reputation: +4/-0
Evaluation can only be done when we experience a definite defeat and the tool or instrument that becomes the basic material for evaluation is Yes, our own trading plan, what we do is what we evaluate. What we wrote earlier is what we evaluate and also regarding the future of the Platform maybe you should be able to use MetaTrader well
#12 - December 10, 2021, 11:38:28 PM

  • Hero Member
  • Posts: 6978
  • Points: 2
  • Likes Received: 633
  • Reputation: +23/-19
there are actually many ways so that you can do an evaluation. You can do an evaluation in an easy way, namely by using the calculations that are indeed used for analysis. So you have to know how to analyze and treat money well
#13 - December 12, 2021, 02:56:02 AM

  • Full Member
  • Posts: 102
  • Points: 612
  • Likes Received: 0
  • Reputation: +0/-0
I think points one and two are the priority as a tool to evaluate the performance we do for trading, the first point is to make a trading journal that is needed to record what we have done,
#14 - December 17, 2021, 11:10:22 PM

  • Sr. Member
  • Posts: 252
  • Points: 757
  • Likes Received: 0
  • Reputation: +0/-0
Which important points have been successful and have not been successful so that we can evaluate based on these results, the second point is the record of income and capital expenditures, by always writing down it is certainly clearer what to do to increase profits.
#15 - December 17, 2021, 11:11:05 PM

Members:

0 Members and 1 Guest are viewing this topic.