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How can analyze my statement?

Discussion in 'General Forex Talk' started by ForexHolic, Aug 23, 2010.

  1. ForexHolic

    ForexHolic Recruit

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    Hi All

    Hope everyone is having a nice time here. Anyone have a excel solution which analyses the report generated by GFT or FXCM, and give us more precise details out of it.

    There are 1 soft I know which do similar things and they are myforexdashboard.com I would like to know if there is a FREE excel solution available?

    I am so mean and want to ask before buying jejeje

    It could allow us to see graphs and performance by individual pairs, most profitable pairs etc.

    Hope to see some input very soon ;)
     
  2. D-Trader

    D-Trader Private, 1st Class

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    Hi, Please let me know what exactly you want. I have my own software which read any data from excel and present graphs which you can test.

    D-Trader
     
  3. Jason Rogers

    Jason Rogers FXCM Representative

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    There are quite a few free sites that have started offering this type of service such as FXStat.com, MyFXBook.com, and MT4i.com to name a few that I have seen.
     
  4. ForexHolic

    ForexHolic Recruit

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    I continue the search

    Dears:
    D-Trader, Jason Rogers,

    First to of all, thank you for your answers.

    D-Trader, Check the webpage of myforexdashboard Their software shows the main key figures of your trading results, using a very user-friendly interface through Excel. I have an account with GFT, whose trading platform is DealBook (not MT4), and it is supported by myforexdashboard while the service that Jason Rogers mentions does not support brokers without MT4. Additionally I have noticed that you need to do a lot of clicks to see the infor in that software. On the other hand, with this Excel solution the information is available and already processed with a single click. You spend your time analyzing your results, rather than generating and customizing the reports. So I think that myforexdashboard saves you time and gives you reports that are even better. My point is:

    Is there any solution like myforexdashboard, but for free? I am the mean's king:embarrassed:

    And I wold like to know if there is anything like this before I decide to buy it, I am going to give me 15 days of term to look for additional alternatives, I will tell you here what other soft or spreadsheet works at the same way, for free of course. jejejeje:p

    keep in touch i hope bring news about it!!;)

    Thank you very much!
     
  5. 5of7

    5of7 Representative for TheCollectiveFX

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    I would suggest doing it by yourself at first so you can understand the metrics. Understanding the key numbers are life-and-death to your trading survival.

    ie.

    How to normalize your trades to 1. So if you are trading 3.5 units, normalize it to 1 unit so you can compare it to all the other trades.

    Calculate your average trade. This is one of the most overlooked numbers.

    Plot your trades to excel, normalized to 1.

    Max historic drawdown, and longest drawdown duration. Knowing this will help you catch a system before it goes full-psycho and stabs your account in the back while it's in the shower... er, I went too far didn't I. You get the idea.

    "Learn to earn." Yeah, I made that phrase up ; - )

    -Psycho Trader 5of7 of TheCollectiveFX-
     

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