Consistently tracking your setups and mistakes in TraderSync unlocks powerful analytics to help you improve. Here’s why it’s worth doing:
Benefits of Tracking Setups
- Identify Winning Strategies: See which setups consistently perform well for you.
- Troubleshoot Losing Setups: Drill down into underperforming setups to uncover why they’re failing and how to improve them.
- Gain Targeted Insights: TraderSync analyzes trades tagged with specific setups, giving you tailored performance metrics.
Benefits of Tracking Mistakes
- Pinpoint Costly Errors: Discover which mistakes are impacting your bottom line the most.
- Focus on Improvement: Prioritize fixing frequent mistakes to boost your trading results.
How to Track Setups and Mistakes
Tracking your setups and mistakes in TraderSync is straightforward. Follow these steps to get started:
1. Creating a New Setup
2. Assigning Setups and Mistakes to Trades
Assigning Multiple Setups, Mistakes, or Custom Tags
3. Removing Setups and Mistakes from Trades
Removing Multiple Setups, Mistakes, or Custom Tags
Example: The Impact of Tracking Setups
Imagine you’ve been trading the “Morning Breakout” setup for the past month. By tracking this setup, you notice the following:
- High Success Rate: The “Morning Breakout” setup has a 70% win rate.
- Optimal Trading Time: Most successful trades occur between 9:30 AM and 10:30 AM.
- Common Mistake: A recurring mistake is holding onto losing trades for too long, leading to larger losses.
Actionable Insights:
- Double Down on Success: Focus your trading efforts on the “Morning Breakout” setup between 9:30 AM and 10:30 AM.
- Mitigate Losses: Implement a strict stop-loss policy to avoid holding losing trades for too long.
Reporting on Setups and Mistakes
Once you’ve tagged your trades, here’s how to analyze their performance:
Method 1: Dedicated Reports
- Click on “Reports” in the main menu.
- Select “Setup” or “Mistake” from the left-side menu.
Method 2: Filtering
- Use the main filter bar to select a specific setup or mistake.
- This filters the data across all TraderSync sections.
- Click “Reports” -> “Overview” for stats focused on that setup/mistake.
By consistently tracking your setups and mistakes, you unlock powerful insights that can significantly improve your trading performance. Start today to make data-driven decisions and enhance your trading strategy.
