Supporting stocks, futures, forex, and options and implementing Dr. Alexander Elder’s principles of risk management and the need for regular review, Trading Diary is a comprehensive platform for assessing risk, recording trade details, and providing an at-a-glance history of your trading performance. Plan, Manage, Review Trading Diary trading forex for a living pdf free a complete solution to help you become a better trader — from planning your trades for optimal risk management to reviewing them for improved performance in the future.
This app is packed with tools you may have never considered, but will become essential to you in your future trading success. Comprehensive Overviews Trading Diary records every aspect of your trades from beginning to end, from your initial reasons for the trade to an easy-to-use grading system, so that you can see at a glance where you went right or wrong. 20, and Trading Diary will give you the clearest vision of your trading career you’ve ever had. Avoid “Shark and Piranha Bites” The impeccable risk management system of Trading Diary, based on the methods of Dr. Alexander Elder, is designed to keep you from over-committing and over-trading.
Getting ‘shark bit’ by huge losses when over-committing can paralyze you when getting back in the water. Results you can see The brilliant calendar navigation and graphic statistics of Trading Diary ensure that you can always find the information that you need from your trading history in a snap. From the big picture to the smallest detail, you will always know where you stand and how you got there. By identifying divergences between MACD and price in stocks and updating automatically, our app does the research for you and provides you with a daily list of high-probability trading ideas. The risk- and money-management function helps to stick to the risk limit and offers valuable services calculating position size.
I am really enjoying using the App and it is improving greatly my record keeping. Latest release: June 10 2013 Trading Diary requires iOS 4. 1 is a major update which adds support for futures, forex and options. Different trading strategies are now supported. Localization Added Trading Diary app descriptions in Spanish, Chinese, and Russian to the Apple App Store. We understand the needs of traders because we are traders.
The legendary story of the Turtle Trades. If you don’t know about the Turtles and the story behind them, you can read here. My question always was, are the mechanical systems that they used still valid today? These systems didn’t have any discretionary rule. Everything, from entries to exits, position sizing to money management, everything was clearly established to the very last detail. The system uses the daily timeframe and the rules are surprisingly simple. Buy when the current price is higher that any other high in the previous 55 days.
ATR the system is flexible to current volatility. The ATR used is evaluated over 20 days. Don’t put any Target Profit on the orders. The goal is to let them run as far as possible in your favor.
So, if you have a farther away Stop Loss, the positions size will be smaller, and viceversa. Once inside the trade, if price moves in your favor by half the ATR, then add another long trade. And you do this until you have a maximum of 4 open trades in the same direction. Every time a trade is entered, move up the Stop Loss of the existing trades, to the same price of the Stop Loss calculated for the new trade just entered. Or exit when Stop Loss is hit. For short positions the rules are the same but the other way around.