Stop breaking your own trading rules! TraderSync’s Strategy Checker helps you pinpoint weaknesses, improve discipline, and boost your bottom line. See how consistently following your plan impacts your win rate. Uncover the specific rules that lead to your biggest gains and those you might need to rethink.
What is it?
The Strategy Checker is your trade-by-trade accountability system. Define your ideal trading rules as a checklist, then see which ones you consistently follow – and which you don’t.
The Benefit
Knowing which rules you consistently break or adhere to empowers you to make informed changes to your strategy and boost your trading performance.
Questions you will be able to answer
- Am I following my trading rules?
- Is there a significant performance difference between trades that follow all my rules versus those that don’t?
- Which rule am I frequently skipping that’s causing me to lose money?
Example
Let’s assume you’re trading the “Gap and Go” strategy with these rules:
Category: Technicals
- Rule 1: Gapped more than 3% premarket
- Rule 2: Trading premarket between $1 – $7
Category: Fundamentals
- Rule 1: Strong positive news
Category: Entry
- Rule 1: Daily breakout
- Rule 2: Strong volume
Category: Exit
- Rule 1: 5% stop loss
- Rule 2: 15% target
This strategy criteria should be created as a checklist for you to simply check which of these criteria were met when you opened the position.
Creating a Strategy
- Click on “Strategies” from the left menu on TraderSync.
- Click on “Create Strategy.”
- Type a name and a description for your strategy (e.g., “Gap and Go”).
- Select a setup to associate from the dropdown. This allows you to easily assign a specific strategy to a single setup.
- You will be prompted to create your first category for rules. For example, “Entry Rules” could be a category. Under this category, define all entry criteria that the trade must meet for you to take the trade.
- You will now be redirected to create rules for the newly created Rules category. You can add your rules here (e.g., “Gapped more than 3% premarket”).
- Create as many categories and rules as your strategy requires. The idea is to build a checklist of criteria that need to be met for the strategy to signal an entry order.
Assigning a Strategy to Your Trades
- Click to open a trade.
- Click on the top where it says “Assign strategy.”
- Select the appropriate strategy from the dropdown menu.
- Start clicking on the checkbox next to each rule indicating which rules you followed.
That’s it! TraderSync will now show an indication of how many trade rules you followed from your strategy.
Suggestions
We suggest you create at least the following categories:
- Entry Conditions: Use this to determine which trades to take and which conditions need to be met for the trade to match your strategy.
- Exit Conditions: Use this to create rules to define when to exit this specific strategy, such as specific targets and stop losses.