Watch List Performance Monitor
Why a Watch List Performance Monitor?
Traders, both newbies and experienced, often have a need to assess the performance of their Trading Plan before applying it in practice. This can be done using a back-testing approach, but the results can be biased by the trader knowing how the market has performed.
The Watch List Trade Performance Monitor ("WLTPM") was created to overcome this "known market" bias aspect. It relies the Trader on actually identifying trade setups as they arise on each new day, applying the relevant Trading Plan Rules for Trade Entry and monitoring the market each subsequent day and applying the Trading Plan Rules for exiting the entered positions.
The Trader manually enters into the WLTPM each instance of potential setup for each market code, any virtual entry and subsequent exit on a Yes/No basis, without regard to the prices and actual profit results. It is all about the number of instances generated by the Trading Plan Rules over the study period and whether there are more "winners" than "losers" thus identifying the veracity of the Trading Plan Rules.
This is a "paper trading" exercise that for maximum benefit should be run over a number of months.
The Watch List Trade Performance Monitor Tool
The WLTPM is intended as an aid for the assessment of "Paper Trades" in real time using either a user defined Watchlist or daily Market Scan Results entered into Daily Worksheets.
Alternatively, a historical analysis could be undertaken on one or more codes by stepping through charts in a "Training" or "Walk Through" mode and recording the action as each new bar is exposed.
Assessments using this WLTPM assume trading strategies utilizing 25%AB and 33%AB Entry Limits and AB% Milestone Profit Exits, but it can be used for other trading strategies. A new Daily Worksheet is created for each trading day, into which a default Watch List can
be simply copied, or the individual codes identified in a market scan.
The WLTPM tool provides:
- Daily Worksheets for recording Trade Setups based on Market Scan Results
- Recording of the Outcomes of those Trade Setups based upon the subsequent daily review of the market action
- An aggregated summary of the Outcomes on the "Summary" sheet that provides for summarizing a User
- A summary of the number of instances of Trade Setups for each Market Code
- A "Period Analysis" that summaries the Trade Setup Outcomes on a Daily and Weekly basis
- A summary of Long and Short Entries by Day of the Week
- A Print function for the "Summary" and "Period Analysis" summaries
- User creation of "Default Watchlist" and one-click importing of that Watchlist into Daily Worksheets
- A Trade Management strategy Profit/Loss Summary based on multiples of the Risk Amount
As the WLTPM uses manually entered trade data is can be used with any market analysis application of the Trader's choosing.
The Watch List Trade Performance Tool Kit
The WLTPM Tool Kit is compressed into a ZIP file that needs to be extracted before use.
On first opening in Excel the WLTPM Tool will probably generate a Macro warning - accept the running of the macros - otherwise the Workbook will not work!
Note: The WLTPM as provided includes the results of a Trading Plan study undertaken on the US Stock Market S&P500 Index fromJuly to November 2015 as an example of the results obtained. Take a few moments to click the "Action” button and select the actions to be reviewed. Also take a look at the individual dated "Daily Sheets” to see the nature of the entries. Once the review is completed, make a copy of the WLTPM Workbook for future reference, then click the "Remove Daily Sheets" button to create a clean WLTPM Workbook, save it with a new filename and use it for your Trading Plan Rules testing.
How to get the Watch List Performance Monitor Tool Kit...
The Watch List Performance Monitor Tool Kit will be sent to you by email within 2 business days of receipt of your payment of AUD$35.00.
Click here to make your Payment via the PayPal web portal.
On the Paypal Page: Please ensure you click the "Write a Note (optional)" label and type reason for your payment.
Screenshots of the Watch List Performance Monitor Tool Kit are available for viewing and download below
Download: Watch List Performance Monitor Screenshots
