Sierra Chart sharing: ChartDom Entry chart

Chart DOM is one of my favourite Sierra Chart features. It gives users the flexibility to synchronize chart, and DOM. Chart DOM has all features of traditional Sierra Chart DOM, with ability to attach (and synchronized) into a chart. Sierra Chart DOM is higly customisable, and light weight.

In my trading, I always have a chart, which I call “Entry Chart”. It is a simple Footprint/Numbers Bars with Chart DOM attached. I have customized the Chart DOM with additional columns such as Bid/Ask Market Pulling stacking, Recent Bid/Ask volume etc.  The main purpose is to have a quick view of price movement (from Footprint/Numbers Bars chart), while trading on DOM.

I have attached the chartbook here. Please feel free to download, customize, and share it if you found it helpful.

You can download the chartbook HERE.

Enjoy!

Launch of New TJS website and Trading Journal Spreadsheet Elite V8

TJS team recently launched enhanced website and introduce Trading Journal Spreadsheet Elite version 8.

TJS is one of the trading tools I have been using for years, and it is definitely worth checking out the new version 8 which packed with powerful features.  To celebrate the launch, for limited time, I am happy to inform that Greg from TJS team is offering a special 15% discount for TraderGav.com readers.

Just use the promo code “TRADERGAV-15” during checkout to enjoy the discount.

Check out the enhanced Trading Journal Spreadsheet website and new Elite v8 now.

FXS Analytics Cyber Monday discount

While I don’t normally write a blog post to promote product. I thought FXSAnalytics is one of few worth mentioning. If you are looking to learn price action trading, this is definitely a good place to start. FXSAnalytics consists of full series of lecture notes, support forum, reference sheets, and also a one-to-one skype call coaching with Steve from nobrainertrades.com. I have personally gone through the course material, and can confidently recommend it to blog readers.

The whole purpose of writing this post is to inform readers, Steve is running a limited time price cut for FXSAnalytic. From now to 2nd December 2015, you can enjoy 20% off the full price of entry. Below is the official announcement from FXSAnalytics.

(Update 11/30: Code has been extended to work through December 2nd).

It has been 11 months since the release of FXS Analytics, and in preparation of a major release to the platform we are offering a one-time extra discount to access materials and support. Valid through November 30th, coupon code TIMETOTRADE will take 20% off the full price of entry. This code may not be used with others and will expire at 11:59pm EST on November 30th.

Enter the code at time of checkout to receive the discount. This is the only time of year we introduce any similar discounts. Thank you for your continued support and we look forward to working with you!

Check out FXS Analytics here.

So if you are looking for educational material to study over the coming holiday season, this is definitely worth checking.

Reader’s Question: Trading Journal Spreadsheet or Forex Smart Tools ?

I received an email from a reader, “P”, asking about the main difference between Trading Journal Spreadsheet (TJS) and Forex Smart Tools. I had the exact same questions before, I thought It might be helpful to post my reply here.

Here is P’s Question

Subject:
TJS or Forex Smart Tools

Message:
Gav, I trade only forex. Which of these pieces of software in the
subject is better or,if neither, what are the major pros and cons of
each?

Thanks,
P

My Answer:

Hi P,
First of all, both are good tools. But they serve different purposes.

Trade log (number crunching)

  • Trading Journal Spreadsheet (TJS)  is a spreadsheet for you to keep your trading record, and it calculates all necessary matrix for you such as expectancy, drawdown etc. It is real good for statistics purposes. And you will need these numbers when reviewing your trading performance.
  • Forex smart tool has similar function, but not as flexible as TJS, personally, for trade log function, I would prefer spreadsheet like TJS.

Portability

  • As Trading Journal Spreadsheet is a spreadsheet, so it is highly portable. You can copy to any machine with Microsoft Excel installed.
  • While Forex smart tool is a complete software package, so you will need to install the whole package into the machine that you are going to use. And there is a limit of license, (my last check, I think you are entitled for 2 licenses for every purchase)

Journaling
This is the Main difference between two of them.

  • Trading Journal Spreadsheet , again, a spreadsheet base, real good at numbesr, and maybe some text for you to keep a simple journal.
  • Forex smart tool shines in this area. First you can keep your trade log (numbers) just like TJS , you can also write down your journal (in text) and attach charts. I found it to be very convenient when reviewing each trade, where I can see the numbers, charts, and my journal (I wrote down the market condition of the day, why I entered the trade, what mistake I made etc for every trade). And if you want, you can also print out each trade as a PDF for review purpose.

Now, what do I use?
As I swing trade FX, so Forex smart tool serves me very well for record keeping, charts, numbers etc in one place.
And also I day trade futures, so numbers are crucial to me, that’s why Trading Journal Spreadsheet plays a big part in my business.

Conclusion
What do you need?
These are just tools. Good tools I would say. It comes down to you to decide which one fits into your routine and plan.

I had previously wrote review for both of these tools. Just to clarify, these are the tools that I personally use. So any comment or recommendation are from my experience of them.

Tools I used: Trading Journal Spreadsheet

Money management tool : Forex smart Tools

Hope it helps!

Tools I used: Trading Journal Spreadsheet

I was talking to a friend about trading journal stuffs, and was asked for recommendations. Coincidentally, I received a couple of emails from readers asking about the same. I thought I would just write a short post about the tools that I personally used.

I was a heavy excel spreadsheet user years ago, I would spend hours or even days trying to create spreadsheets for trade logs/tracking sheets etc. But I come to realize that my effort and focus should be on the markets and honing my trading skills , instead of spreadsheet programming.  TJS (Trading Journal Spreadsheet) provided me an excellent professional solution with very reasonable price (considering the regular support provided by the team).

Trading Journal Spreadsheet (or we call it TJS here), is a powerful spreadsheet-based journal solution. It can be used for most markets, including  Futures, Stocks, Forex, Options, CFDs, Spread betting. Personally, I use TJS mainly for Futures, and Forex. TJS comes with all essential tools you need for trading journal, including Trading Logs, Tracking Sheets, Scale in/out calculator, Expectancy, Drawdown analysis, position sizer as well as template to construct your daily trade sheet.

I started using TJS around 3 years ago, and still using it. You can check out more details about TJS here.

Below is the introductory video of TJS I’ve found on youtube.

Hope this helps.

I would say Trading Journal Spreadsheet by itself is a complete solution.It is good enough for new and experienced traders. In addition to TJS, I also use another tool Forex Smart Tools for my Forex trading journal. I wrote about it before, you can find it here. But, it is an additional tools, and exclusively for FX. I use them both as they fit into my requirements, and helps me to get organized in my trading business.

Money management tool : Forex smart Tools

I used to keep my trading journal in Excel spreadsheet for years. Well, it serves the basic need, however it is time consuming and somehow, inefficient, when the number of record grows over time. And trying to find an effective way to link each trading record to screen shots is always a pain.

I started looking around for a better money management tool. I realize my time and energy should be spent on better things rather than the spreadsheets. There are a couple of money management tools in the market however, most of them are designed to serve stocks traders. Specifically, I need a money management tool for Forex trader.

I was introduced to Forex Smart tools by another trader in our private trading room. I was impressed, since then, it has been part of my trading business. Forex smart tools consists of 2 applications, Forex Calculator and Forex Trade Log.� Calculator is meant to use for trade preparation, while Trade Log is for trading journal and logging. Instead of writing a lengthy post to introduce the tools, have a look at the introduction video below.

Bottom line, if you are taking your business seriously, this is an essential tool. Serious traders know just how important it is to keep track of your trading records and journals. I am using it in my trading, and I would recommend it to all serious Forex traders.

You can find more details of Forex Smart Tools here. If you are interested in trying out the application before purchasing, a new lease/installment plan at $25/month is now available.

In addition, an extensive video library is available to help user to get started with the tool and learn more about money management skills. Here is the snapshot of the video library.

Check it out. To me, it is indeed a great tool.