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Humble Forex Trader's Spreadsheet ... Replaced!

Yes, and not too soon! The humble spreadsheet has played its part - a great part in recording our forex trades along with journal notes and sometimes the reasons for taking trades. The spreadsheet was setup with formulas to calculate pips profit or loss, dollars profit or loss, and running account balance. If we were clever - we could also produce a chart of our trades - maybe a line graph of our account balance over time, never much more than that.

Enter Trade on Track. It does all that the old spreadsheet could do, and so much more. Starting with data entry - Trade on Track has the forms set up to enter the details that you need: entry price, currency pair, no. of lots and so on. There are drop-down boxes when appropriate, automatic warnings based on excessive risk or imminent news announcements, ability to upload chart screenshots, and most importantly: set reasons (as well as ad-hoc notes) for entering and exiting the trade. The “set reasons” are reasons or trading strategies that you set up beforehand.

Once the trade is done, Trade on Track provides a number of built-in analysis charts, plus you can sort and filter the trading journal in many different ways.

There are many more advantages to using Trade on Track over the forex spreadsheet, including:

  • Use it from any computer (that has Internet access)
  • Trigger trades in Metatrader 4 directly from Trade on Track
  • Your data is secure, safe and regularly backed-up
  • Other forex trading tools at your fingertips like: world clocks, fib calculator, news calendar, fundamental analysis, risk/reward calculator …
  • At a glance, see your pips profit summary and open-trade risk summary

It’s time to retire the spreadsheet and move up to the Rolls-Royce of forex trading logs