Last week I announced that v1.6 of our community inspired Trade Tools for logging and analyzing completed trades was on its way. The update was the largest yet, including 14 new enhancements and a handful of bug fixes.
After a long, rigorous roll out yesterday, I want to take a quick minute to appreciate the final product.
Let's dive right in.
All your trades are automatically rated based on five core principles of post trade analysis: setting a stop, including notes, having a profit target, saving a chart so you can look back later, and logging broker charges.
It's not just how much you buy, it's how much you have at risk that matters. One of the most requested tools to date, you can now quickly determine Shares, Risk $, or Equity at Risk. Here's an example of a trade I was considering this AM for Tesla after yesterday's big run. Unfortunately for me the stock is already up 6% in pre hours.
Custom option spreads
Option trades are entered individually as single legs then can be combined into spread trades for grouped analysis. Two legs, four legs, covered calls, etc are all supported.
What is this? help tips
For those newer to investing and/or post trade analysis, help tips are spread across the tools to add definitions and supplemental education.
Expanded trade import
Import trades from 14 different online brokers, 1 trade platform, or create your own CSV and do a custom import. This list will continue to grow.
Simplified trade entry
For those like me that prefer manually entering their trades each day, our trade entry form has been overhauled for ease of use. Add on buys and sells are also a breeze to include.
Quickly identify potential profit targets for new and open positions. Profit targets are also included right in the trade entry form for quick access.
More data for analyzing results
31 total data points are now included in the Results Analyzer including new "Average Risk $ per trade" and "Average % Equity at Risk".
Simplified column management
The new column manager makes it easy to choose which columns you want to view and which you do not in the Trade Log and Trade Analyzer.
Mini options support, simplified portfolio management, default stops, OTCBB price updates for open positions, and new filters for Results Analyzer round out the v1.6 updates.