Trading Progress

“Trading Progress”… Here are some ways to help you achieve the behavior/psychology needed to reach your goals of becoming a competent market trader.

For more on the psychological part of trading, I really recommend reading, “Trading In The Zone” by Mark Douglas. This is one of my few trading "bibles".

What is a trader, you say?

Interesting video I just ran across... sums it all up pretty well. Worth a peek.

Update Excel!

When is the last time you updated Excel or (MS Office)?

If you haven't done so recently, you may want to think about it, especially if you've been incurring issues. Click on the Microsoft "Update Excel" link (above) to download the updates.

You'll also have the ability to set up your updates automatically (from the links on the left side of the Windows Update box).

Quick 'Summary' Using Excel's Status Bar

For those that don't know... Excel displays a very helpful summary in the (lower status bar) window.

Just scroll & highlight any numeric data column and you'll see some interesting calculations come to life:

* Sum
* Average
* Minimum
* Maximum
* Count (# of items)

Unlike a formula entered into a cell, you cannot permanently keep these results in your trading spreadsheet, but when you want a quick answer to a question on your input area, it can't be beat for its quick and instant display.

To change your choice of what the status bar displays, just right-click in the status bar to see your choices (towards the bottom-half), then check or uncheck the ones you want displayed.

Click the image to see an example using the new TJS Elite.

Bye Bye April... Hello May

Bye April, hello May! I hope you all had a successful trading month and are eager to continue (or start) your trade-tracking endeavor.

Remember, success does not always mean being profitable, especially for beginning traders. You can judge your success by how well you followed your trading plan, and how diligent you were in recording ...and reviewing your trades.

Let May be the month where you continue tracking your trades, adding key data needed to properly analyze your results and progress. This data will soon present patterns of mini successes and failures so you know what to focus on, and perhaps... what needs to be abolished.

Remember, I am always here to lend a hand if you need any assistance getting up and running with your TJS Trading Journal Spreadsheet. Don't let the file sit in a dark directory somewhere collecting computer dust. Put the file icon front and center on your desktop. Make it your friend and ally and... create some data!

What's next?

TJS is looking to raise the bar on spreadsheet trade-tracking. We're thinking... all markets from 1-file, menu driven, multiple broker ledger, new design, more tracking capabilities, interactive macros, etc.

What do you think... comments, suggestions... anyone!

You don't need the luck of the Irish when you're trading with a sound trading-plan and tracking your progress with the TJS!

This St. Patrick's Day -- onward, your best chance for success is to follow your plan, track your trades, then adjust your plan when your analysis suggests to do so.

Be disciplined and keep a detailed trade log for consistency and ultimate success.

Happy St. Patrick's Day!
Greg at TJS

Forex and Futures - update

New "Position Sizer" sheet added to the Forex and Futures Pro v7 products.

Never be at a loss as to how many contracts can be purchased. Calculations are based on specific user-defined parameters. This is a great tool to stay consistent with your money management regime, which all consistently profitable traders adhere to.

Current "Pro v7" product users can get this updated file for free. Just go to the (link above) and submit the form.

Options traders - update

Options traders -- Revised formula for (# Days in Trade)... The calculation will now allow you to calculate the # Days in Trade without having to enter an exit date. Good for those trades that expire without an actual exit. You'll just leave the Exit Date column blank. When the trade expires, the sheet will tell you, and automatically... display the # of Days that the trade lasted.

Please email me if you would like the formula for this column, or send me your file so I can make the adjustment for you.

Thank you fellow user Karl for submitting and contributing this revision.

Forex Survey Poll

January 4, 2011
For all Forex TJS users... Take this poll to help create a better trade-tracking experience!

January 17, 2011
The Forex TJS survey/poll is in... If you'd like to view the results, please click on this link, then scroll down to the bottom of the page.

A special thanks to those that took the time to participate. You may see some exciting revisions to your next Forex product version : )

Using Excel's Auto Filter feature...

Let's assume you have a good amount of data that lends itself to being fitered, and you wish to separate specific trading criteria for a list of trades. This can easily be done with Excels Auto Filter feature, and most TJS products are already pre-programmed to make use of this feature, with just a click of the mouse.

Want to know more? Click the link above.

Attaching chart screenshots to the TJS

Are you reviewing your trades properly? One great way to review your trades is to attach your trading chart screenshots of each trade, to your TJS journal.

Personally, I take just one screenshot and hyperlink it to the symbol of each trade. However, with that one screenshot I show multiple views of the trade with various timeframes and notaded with specifics like: Support/Resistant points, Trendlines, Entries, Stop price, Target price, Scale out exits, and final Exits.

I'll then do a periodic review of my trades, comparing the notes of each trade (from the Entry/Exit Journal section) to the screenshots. It can be enlightening!

However you wish to do it, some variance of the process... should be done, to really make your journal complete.

Click here for more help

Trading Journals and Trading Plans - Starting Anew

By Greg Thurman

Just recently, I was asked my recommendation on whether or not I would start my trading journal over as we were approaching the new trading year. Here was my response...

[READ FULL ARTICLE]