THE TRADE LOG
The Forex Smart Tools Trade Log has all the features you need to create a complete record of all your trading activity.
PICK YOUR OWN PARAMETERS ~ JUST THE ONES YOU WANT
Why use a TradeLog where you're stuck with things to track that have nothing to do with your style of trading?! Not here. Not now.
The SetUp tab is where you customize the Trade Log to be exactly what you need for your own trading style and personality.
Select only the statistics that you want to record. Scroll through the "Parameters To Track" and choose from the many options that pertain to your specific style of trading. Then populate those choices with your own names to totally customize them.
The Trade Log comes with over a dozen standard parameters you may choose to record, such as name of strategy, screenshots, pips available, stop needed, tax code, session name, notes, ideal stop, stop used, commission, MAE, MFA, lessons learned, etc.
Use the "Custom Parameters" to create your own personalized choices for criterion that you might also want to track. (e.g., ADR at time of trade, name of news report, time frame entry, target 1 hit, target 2 hit, etc.)
Make the Trade Log fit YOUR style of trading by only displaying what YOU want to see. Input only those parameters that are important to you.
Easily add parameters that become vital to your trading or subtract parameters that are no longer relevant to your current type of trading.
The Trade Log is flexible and adaptable to any and all ways of trading.
ENTER YOUR TRADES ~ MANUALLY OR AUTOMATICALLY
Enter the data about each trade you take on the Trade Input tab, so you may then use that information for record keeping, analysis and tax reporting.
Enter your trades manually or use our custom import function to easily bring in your trades from MT4 platforms.
The parameters that you have chosen to track will show up here on the Trade Input tab. The layout can be as simple or as detailed as you like.
A layout preference panel is provided so you can even arrange the location of each input box on the page.
You can choose to make each record as simple or complex as you like. A simple record would show the currency pair, direction of the trade, the date and time of entry and exit, how many pips and how much money you made or lost.
The Trade Log shows your gross wins or losses, your net wins or losses and your equity change as a percentage.
A more complex record would show notes, screenshots, lessons learned, entry, exit and session details, and other customizable parameters.
After recording a complete trade, everything that you entered about that trade is saved for future reference and can also be printed out as a PDF.
You have the ability to upload as many screenshots as you wish. Visually compare what your charts looked like as you entered the trade, another as the trade progresses, again when you exit the trade and perhaps some time later, take another screenshot to be able to analyze your exit and see if you could have stayed in longer.
Error checking is in place so that you can easily see when a trade entry has not been completed, whether duplicate ticket numbers have been entered or input-errors may have been made.
Times and dates can be set to your own GMT offset and display a rollover hint about what that time is in your local time zone. Different brokers may each have their own GMT offset.
INPUT MULTI-LEG TRADES AS A SINGLE COMPLETE TRADE
Finally a way to record multi-leg trades! The allocation breakdown allows you to show each of the legs of your trade, separately and together – all at once.
Whether you feather-in, feather-out, or use one of the many loss-recovery strategies, such as stop-and-reverse or cost averaging, this is the ultimate way to record those entries and exits.
Use the allocation breakdown button to simply and easily record each part of a multi-leg trade. Mathematical computations are automatically done for you based on the data of each input.
Pips won or lost are shown in 4 different ways:
- Working pips: the comparable number of pips that the sum of your total lot size would have made or lost.
- Maximum pips: The number of pips that the leg that went the farthest made.
- Raw pips: the sum of all the legs added together.
- Effective pips: if you began your group of trades with an initial position and then added on or entered additional trades in a loss-recovery mode, this is the measure of how much workpower your initial trade yielded.
The Trade Input tab will then list the number of legs taken, e.g., "This is a 3 part trade", and show the net result of the entire group of trades all together. The individual legs are always still available for review under the Allocation Breakdown heading.
SUMMARIZE YOUR TRADING AT A GLANCE
The Trade Log Summary tab shows you the key results of your trades sorted into a customizable format that is easy to analyze and understand.
The summary page always shows your win to loss ratio, your equity change, your average gain and loss, your number of wins to losses, and your consecutive wins and consecutive losses.
In addition to these stats, you can choose to see which times of the day or days of the week are most profitable for your style of trading. Pinpoint if there are any session times that are best to avoid.
Track the currency pairs you trade to quickly see which of your strategies are most profitable for you and which of the currency pairs you should avoid trading.
If you trade multi-leg loss-recovery strategies, discover how often your first entries were correct and how often you had to go to Leg 2, 3 or 4.
See today's trades at a glance. Select 1-4 summary bands in which you can compare this week's trades with last week's trades, this month's trades with last month's trades, or this year's trades with last year's trades.
CUSTOMIZE YOUR ANALYSIS REPORTS
Turn your forex trading data into information by doing an in-depth analysis of what is making you money and what is losing you money.
The Analysis tab allows you to create your own customized reports. Print from the Trade Log or export to a spreadsheet program.
Choose only those parameters that you want to analyze. Use the Preset Editor to check the fields that you would like to display in your personalized analysis.
Drag and drop columns into the order you would like to see them displayed. Click column headings to sort.
This is a full-featured relational database that has an elegant and simple to use interface. Show as many or as few fields as you like and put them into the order you want to see in the display. Any of the standard or custom parameters you have set up are available to use in the reports. You can pick any subset as well – such as a specific date range or group of strategies or currencies.
Here are some examples:
- If you are tracking the ADR (average daily range), you can see how well a particular strategy did when the ADR was greater than 100% of its norm.
- Compare the stop you use with the stop actually needed for each trade and see if you are better off using a smaller or larger stop.
- Analyze what your average number of pips taken on each trade is, compared to how many pips are generally available, based on your same entry criteria. How efficient are your exits?
Be a scientist and see for yourself what no one else can show you.
TRACK YOUR PROGRESS OVER TIME
Creating and holding to goals in your forex trading will really accelerate your profitability. Quickly see if you are meeting your goals with the Progress Tracker.
The Progress Tracker tab allows you to graphically see the combined results of all your trades each day, each week, each month or each year.
You can create your own levels of goals or tolerance bands based on equity change amounts. Color code and name each level as you like. The Progress Tracker then shows you how many trades you took each time period, the number of wins and losses, the equity change and the net financial value.
A professional trader would never evaluate how they were doing simply by looking at the bottom line of their broker's statement. They analyze their trades and their overall trading tendencies carefully and the Progress Tracker is the easiest way to see this information at a glance.
SEE ALL YOUR BROKERAGE ACCOUNTS IN ONE PLACE
List all of your forex brokerage accounts whether they are active or inactive, live or demo, or even accounts you set up on the Forex Tester.
Use as many brokerage accounts as you want in the Trade Log. For each separate brokerage, enter your base currency, then enter the brokerage name, account number, what currency you hold the money in, the lot type, and equity amount.
Match your equity balances to what your broker is showing you to make sure that you are credited with the correct amounts. Easily make manual adjustments such as salary withdrawals, deposit of new funds, or credits from your broker.
The Trade Log even lets you keep multiple international accounts, even if you hold your assets in different currencies with each. The daily exchange rates are automatically stored, so your end-of-period statements can all be reconciled in your base currency with great accuracy.
ACCURATELY TRACK YOUR SPREAD BETTING BROKERS TOO
The Trade Log accommodates both Spread Betting brokers and traditional brokers. See each account independently, or combine your results for all brokers at once.
Spread betting is often accomplished on brokers' platforms that ask for trade sizes to be entered as amount per pip or amount per point. Both the Calculator and the Trade Log now work with this format. Within the Trade Log, you create accounts and designate them as 'spread betting' or 'standard, mini, micro or unit lots'. Based on that selection, the trade input page is instantly modified to display the position size in the correct format.
Within the analysis page, each report you run will show your trade size appropriately as well. You can even create reports that combine your traditional and spread betting brokers in one view.
(The Calculator also supports the use of spread betting.)
From some of our Forex Smart Tools users...
“This is the best money management journal and calculator on the market I have seen. Well worth the price and service is excellent! I have had it for a few years and I’m just as excited about it today as the day I bought it. Best improvement in my trading. It creates a far clearer picture, far faster.”
~ Melissa N.
“Thank you for creating these great products! I was most interested in the Trade Log, but then after watching your video on adaptive position sizing, I became convinced of the value of the Calculator as well. Also, I wanted to mention that you two do some of the best instructional videos that I’ve seen: concise, clear, well-paced. Keep up the good work!!”~ Brent B.
“Use the Trade Log like you’re supposed to and you will come to one of two conclusions: either your system is working or it isn’t. Keep trading a system that isn’t working and count on seeing your trading account disappear. If you’re SERIOUSLY considering forex trading as a business and a lifestyle you owe it to yourself to consider Forex Smart Tools’ Trade Log and its sister program the Calculator as part of your business toolbox.”
~ Richard S.
“I heard about the Forex Smart Tools because I was using the Forex Tester simulator to test some of my strategies, however, the numbers were lacking. You guys rock, this is exactly what I need to make me the Pro I want to be. It’s great. Keeping accurate records is a hallmark of professionals. You guys make it easy.”
~ K. Binney
“Ultimate Money Management in 2 simple programs − the Trade Log and the Calculator. My results have improved dramatically because of the discipline used. Brilliant! A “must have” for any forex trader.”
~ Mike D.
“I want to congratulate you for the fantastic job you’ve done on the Forex Smart Tools! I was already highly impressed by the Calculator, but now that I see the Trade Log, I am frankly grateful to you both for devoting yourselves to help traders like me. You really go the extra mile(s) in your video support of your products. Thanks a lot!”
~ Gary B.
Common Questions About The Trade Log