Before I go into the actual analysis, I'll explain the process by which it is generated. In my first post I explained the potentially arduous process of mulling over trading results and even keeping track in detail of past performance and results.
We've created a tool in the TraderDNA Analyzer software that streamlines this entire process and does virtually everything for the trader with a few simple commands. There are three steps to the process:
1) Import data. The first step is putting data into the program that does the trade analysis. This is done easily by the trader finding the export facility in her trading software and exporting her trade data into an Excel document. With many trading softwares, the trader can query a batch of data consisting of hundreds, or thousands of trades with a single command. If querying historical data is not an option in the software, data can be queried at the completion of each trading day. In both cases, this process typically lasts less than a minute. Click here for instructions on how to export data from a particular trading software. Once the trader has an Excel file, the file can be easily imported into the analysis program with an additional command.
2) Conduct analysis. This process can be as easy or intensive as the trader prefers. The TraderDNA Analyzer has various types of analysis available as presets that can be run with the trader's newly imported data. Or the trader can come up with his own views and analysis, arranging the data elements and measures as he wishes. That customized analysis format can then be saved as a new preset so that it can easily be run again and again with new data.
3) Interpret the analysis. TraderDNA makes this process incredibly easy and visual for the trader. No one likes looking at numbers. It's important for numbers to be represented visually in different formats because it makes interpretation 10 times easier and most importantly, it makes it interesting, and even fun.
That's it. Now we're ready to look at some analysis...
© Copyright 2007 David Adler
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