The Problem: You only have one trading account, but you want to track multiple trading systems individually.
Doing this can make you feel like a circus clown, juggling multiple systems at once. Keeping track of the performance of each trading method can be a painful experience.
But it doesn’t have to be. This post will show you the easy way to automatically journal your trades, then tag each trade so you can track the performance of each individual trading system.
The Solution
Luckily, this is easy to do with MyFxBook. Once you setup your account, MyFxBook will automatically start to journal all the trades you take.
After you a few trades available login to your account. When you click on the History tab, it will look something like this.
Then click on the tag icon on the left side of each trade. This will show the tags dialog box.
Click on the Edit Tags link to create a new tag. You can choose a different colors to represent the different methods you are trading.
After the tag is created, it will appear in the Tags Available section. Click on an available tag to tag that trade. Tag all of the trades with the method you used to take that trade.
After all of your trades are tagged, it is now time to see how each method is performing. Now go to the top of the screen and click on the Custom Analysis link.
A box will appear that will give you different options on what you want to analyze. Click on the Tag tab to choose a tag or multiple tags.
Check the boxes of the tags you want to analyze. In this example, we are going to examine the performance of the Pivots system.
Click on the Analyze button to show the custom analysis.
Now the data that you see on the screen will only be shown for the trading systems that you chose. This is how only the Pivots system performed during the reporting period.
Conclusion
As you can see, this method makes it super easy to track the performance of individual trading systems within a single account. Since most of the journaling work is already done for you, all you have to do is add the right tag to each trade. The best part is that MyFxBook is absolutely free.
