UPDATE (Nov. 13, 2022): This is one of my oldest posts and since I wrote this, I've found much better trading journal solutions. You can see my current recommendations here.
If you do not like to record your trades like I do, then this may be the solution you have been looking for.
In a previous post, I showed you how to get Oanda to work with MyFxBook.
In this post, I thought I would take a step back and show you what it can do.
The best part about this site is that it is totally free and you can post your trading results from MyFxBook to a widget on your website or create a link to your reports to show potential investors or other traders.
There are a lot of metrics that you can view about your trades.
These measurements can help you discover things like: why you may not want to trade on Tuesdays or you may need to do more backtesting in the EURCHF.
As a side note, I actually tried to create a trading log like this in Microsoft Excel, back in the day.
It just got too complicated and I felt that I was wasting my time developing that spreadsheet when I really should have been backtesting and figuring out a way to trade better.
I resigned myself to using a simple spreadsheet instead and using very simple analysis.
Using the interbroker capability of Metatrader, these reporting websites can now update your log automatically and provide more information than you ever imagined possible.
Anyway, here is the video:
Click here to get started with MyFxBook.
