Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Thanks Greg. Besides the US, I also trade the GCC markets (Dubai, Saudi, etc), so I doubt my vote will count as there must be very little interest in these markets
That said, I understand the need for market data to display the charts/trades, calculate MAE/MFE, etc, but there are also a lot of valuable individual trade statistics that TraderVue provides (win rate, trade expectancy, drawdown, etc) that are completely independent from market data.
Not trying to compare products here, but I've been doing some digging lately trying to find something that would analyze my trades, and while I found a a few tools that support custom instruments, the performance reports were no where near what TraderVue provides.
So my suggestion is that if custom instruments were supported, it would be a great way to leverage the analytic power of TraderVue and make it more versatile.
I understand that this may be a strategic decision on your part, but I just thought I'd share my suggestion.
We just released this today...it's pretty cool. Starting today, Tradervue will calculate the “best exit” P&L for each of your eligible trades. That best exit is determined by “floating” the last exit executions up to their highest point (or lowest, in the case of a short); this exit point may be before or after your actual exit. By looking at this best exit value in comparison to your actual P&L in the trade, you can quickly see how efficient you were in terms of extracting P&L.
We also take risk into account - we won't show you a huge potential exit P&L, if that would have required an unrealistic drawdown to get there.
I wrote a blog post with a ton of detail and examples - rather than copy all that here, I'll just point you to the post:
@Tradervue, I am very excited with your new exit analysis including the "efficiency", this is how I tracked my trades for years when I used Excel.
One thing that is not yet clear to me is how this works when you scale out. Your article says it takes the "last trade" but what happens if you scale out over several hours? I assume that only the remaining size left on for the "last trade" is used?
Hi @Tradervue yes I know that I have asked in the past and you have responded and Thank you for that.
I guess what I was getting at all along is a solution for desktop only--I have no need to place my info onto a server somewhere, thus my request for a desktop version, yes I understand you do not offer such an animal. I respect that and your product is very robust and user friendly. With that said is there any possibility you would recommend a desktop solution for users that desire such? Realizing a conflict of interest but thought I would ask anyway!
Thanks in advance for any input on the subject.
You are correct, in that we only "play" with the _last_ scale-out. Specifically, we look at the last exit execution, and include any other executions within 5 seconds of that one (to allow for multiple fills that may be slightly delayed).
An early (unreleased) version of this analysis looked at all of the exits after the last entry-side execution. So for example, in this trade:
We originally would move all three of the sells up to the highest point at ~ 23.50, and use that as a best exit.
The result seemed to be statistically interesting, but it was almost an _entry_ efficiency, rather than an exit efficiency. It showed what the theoretical max P&L was. But it didn't seem to be actionable, in terms of using the data to improve performance. Perhaps your trading rules say you're going to sell 1/2 into the first pop, or perhaps sell 1/4 to cover risk as soon as possible. In these cases, you followed your plan - so "floating" those exits up to the maximum P&L doesn't give you anything useful.
However, for the _last_ scale-out, this one is either done as part of a plan, or it's discretionary.
Planned: perhaps you were making a momentum trade, and you sold when momentum dried up. You followed your plan, and executed correctly. In this case, Best Exit P&L means nothing, and can be safely ignored.
Discretionary: you sold because you thought you were done with the trade; perhaps you saw some sell signals. In this case, Best exit P&L is a good measure of whether you made a good choice.
This is all a long-winded way of saying yes, we are only looking at the last scale-out.
I certainly welcome any discussion!
If you have any questions about Tradervue, please send me a Private Message or use the BMT " Ask Me Anything" thread.
For MFE/MAE, it's not there because these calculations are made in the instrument's native currency, and may not all be the same. For example, ES trades have MFE calculated in USD, whereas FDAX trades have MFE in EUR. So, providing an average/total in the Trades View isn't possible.
That said - for USD-denominated instruments, you can go to the Reports View, Detailed tab, and the average position MFE/MAE are there in the stats table.
For exit efficiency - let me give that some thought. Like you said, some trades do not have this calculated (e.g. losing trades), so I'll have to think through whether having an average there makes sense in the general case. I can see how it would be useful - I just want to make sure we don't show something that someone might find misleading.
If you have any questions about Tradervue, please send me a Private Message or use the BMT " Ask Me Anything" thread.
Would it be possible to change PnL and all other $ measures to % relative to account size?
Just came up in another thread & might really help people evolve in size as they can detach from the invcrease in absolutes more easily..