Ryan Watkins, Lead Coach
Trading performance is an important part of trading. If a trader has poor performance or great performance, we can use information from a Performance Report to identify key weaknesses and strengths to improve our trading.
In this post, I will show you my own personal trading results and how I use them to improve my trading.
Let take a look at a recent performance report of mine using the reporting software I use called, Tradersync (www.TraderSync.com).
Below is a report for the current month of June 2021. The month is not over yet, but this is the most recent report and it is interesting because I took the first week off of trading, so it’s a short month of trading for me.
There are many columns that a trader should focus on in this report, but in my opinion, the most important is “Mistakes” and “Return %”.
If there are any mistakes I make, I track them, and over time, I will have an accurate idea of what my most made mistakes are. Once I know that I will be able to work on the solutions for that mistake and not repeat them anymore.
The Return % is a key measurement of keeping my $ Risk Amount small. If I have any large losers that go over my allowable limit, I will see it in that column. Again, I would need to find out why and find the solution, so I don’t make that mistake again.
Let’s look at another example, May 2021. Here I show my stats for the full month of May 2021.
33 Trades and $32,836 made for the month. Take note of the “Mistakes’ column. The “MA” trade, I wrote an entry under Mistakes that I had a ‘sloppy entry’. This was a mistake on my part, so I typed it in and I am tracking it to see if there is a habit there or if it truly was just a mistake.
I can tell you; it is not common for me to make that mistake. I log the mistake anyway out of habit. However, it is good to remember that trading is a skill. In order to improve your skill as a trader, you need to track your results, both good and bad. Learn from them and get better.
The last example, is from one of my better months last year, Dec. 2020. This image does not show the mistake columns but rather a general overall summary of the month. It too can be useful for general stats and information, but the skill development is in the details, so stay focused on removing your mistakes.
Return $: $54,742
Profit Factor: 9.2
Win %: 89.4%
# of Trades: 19
If you are looking for more resources on how to track your trades, consider the following websites:
If you are interested in more of my performance reporting and my trade results, you can find them on my YouTube channel here https://youtu.be/dV0P7D35qj4