We’ve just added the ability to directly compare winning trades to losing trades. This can really give you some insight into what’s happening with your trading. Take this specific example, based on real trading data. We’re looking at a month’s worth of intraday trades; the hour-of-day summary view on the “Detailed” tab of Reports looks like this:
If we look at the 3:00pm hour, we can see a fair number of trades, but generally to no avail – the average per-trade P&L for that period is very close to zero. However, we don’t know exactly why…perhaps our stops are too tight?
Now, let’s look at the hour-of-day data broken down by winning vs. losing trades report for the same set of trades:
The legend isn’t visible in the screenshot, but the blue trades are the winning trades and gold are the losing trades. Now we can see a little better what’s happening. Looking at the distribution on the left, two thirds of the trades we’re making in this time period are winning trades! The problem is, the average loss on the losing trades is almost double the average gain on the winning trades. Now we have some real insight into what is really happening, and we can consider whether to make changes.
The winning vs losing trades reporting is now an available option on the Compare reports tab, and are available now!