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Track your trading performance
- Thread starter Coner1980
- Start date
This is true, But I would prefer it being done with demo account to avoid lose of funds in the process.If you test different systems this way you can check the results of each strategy separately, in my opinion it is very helpful in trading.
demo is good but the result of trading place actually not works when trading in a live.
The difference is that the results are 1:1 with myfxbook, and fxblue has incorrect calculations from MT4 and MT5, myfxbook from MT5 is incorrect... An additional advantage is the transparent appearance of statistics, which cannot be found on myfxbook or fxblue. At the moment Fxmerge is the best free service to track results. There are plans for further development of the website, as well as free tools.What is the difference between myfxbook or FXblue?
maybe traders that want to test several trading robots can use tracking accounts separately.
Even though a demo does not guarantee 100% success in trading it is the base of trading.
It is good to track your trading performance because it can help you to avoid previous mistakes and develop better strategies to make higher profits.
If you want to become a successful trader, you need to keep track of your performance. A trading journal is a must as it helps traders in finding out where they lack. Also, do proper backtesting. This will help you in making better trading strategies.
Often trading is considered to be simple or somewhat straightforward. But in truth there are a lot of intricacies associated with proper trading, and seasoned traders are fully aware of the importance of keeping an eye on their trading performance.
While some traders keep a trading journal or a form of record to try to keep track of their trading performance, things could be much simpler by making use of the Fxmerge service.
This site has rendered trading much more effective and considerably better thanks to the tools it offers. The site was not established long ago, but within a short period of time it managed to exceed traders and users’ expectations.
The main goal behind Fxmerge was to offer the best possible support to traders. Since many have various trading accounts, it is not that easy to keep track of all trading activities, and logging in several times in different accounts is both time consuming and inefficient. Everybody is very busy, and time is so limited. Besides in trading timeliness and prompt action is of the essence – we all appreciate this!
Thus, unless one is monitoring what is happening in the market, and watching how things are unfolding in his accounts, there is a good chance of acting rather late, or making inefficient decisions. Trading decisions can improve thanks to Fxmerge, and as many users explained, they noticed impressive improvements in their trading performance since they started using this service.
The minds behind Fxmerge had one mission in mind when creating it – that of offering assistance and support to traders in a tangible manner. Rather then sticking to the traditional aspect of support, Fxmerge went a step ahead by creating this service for traders to gain access to clear statistics which are obtained from the trader’s accounts.
Fxmerge works with both Metatrader 4 and Metatrader 5, which are both widely used by most forex traders. Upon registering for this free service, the user’s trading performance from the accounts gets downloaded and clear and accurate statistics are generated from it. Moreover, Fxmerge is a great site for traders who want to learn more about trading in general.
The community section is a great place where users discuss various topics related to trading. And there is no denying that there are a myriad of other Free tools at users’ disposal on the Fxmerge site, including the Forex Manager, Forex Risk Tool, Outlook Indicator, Forex Trade Copier and the Forex News Indicator, among others.
For me it's same as MyFxbook - pretty useless if you of course don't look for hands-down solution to calculate basics metrics of performance like Z-score or Sharpe ration or plot colourful charts. Everything essential is available in MT4/MT5 reports.
I prefer to use excel sheets to record my trading performance. Is there something special in the website you mentioned that can make tracking more simple as i’m someone who never felt the need of using something else.
Same. I just use an automatically updated spreadsheet