Registered User
Joined: 12/30/2004
Posts: 10
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one of mine [ hope fully not too many like me !! ] major problem is portfolio management and tracking gains / losses. i am sure several bright and smart knights have figured it out .
will appreciate any suggestions [ including books ].
thank you
numetor [ dum doctor ]
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Registered User
Joined: 2/7/2006
Posts: 218
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well you could add personal notes.....in Telechart i added a personal note to IBM, bought july 06 85 calls 10 contracts@2.25....and it adds a pic of the chart as well and gives a date and time stamp...like for my trade it says the note was added 3/10/06 at 3:46pm...the note just stays in telechart...i also add the info when i exit the trade later on...that way i can just scan all the personal notes i have added and see hopefully how well i have done...i like that you get attached chart to each note so you can view what you might have been thinking when you picked a winner or loser....paperless is what i like about it...i think there has been some knightly posts about the same thing as well as spread sheets and just paper and pencil...
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Registered User
Joined: 1/28/2005
Posts: 6,049
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numetor
I know a trader who lets TC do all the work.
1. You can enter your stocks when they are purchased into a buy watchlist. (Let the watch list tracking feature track your gain, you can adjust the watchlist price to be your exact buy price.)
2. You can use the "text" feature to write on the chart. You can explain why you bought how much you brought, your stop level and so on. (you could also use the notes feature for this)
3. When the trade ends. You can write your final thoughts, profit and so on. You can move the stock in to a sold watchlist for later review.
Hope that helps
Good Luck
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Registered User
Joined: 4/6/2005
Posts: 239
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I don't use the notes feature of TC, I do keep a watchlist of my holdings. I also keep two spreadsheets, one for open postitions and one for closed positions.
The open positions sheet has clolumns for the entry date, ticker, Long or Short,number of shares, entry price, current price(maintained through the day), gross Profit or Loss, total cost, total proceeds(if sold at current price), and percent gain or loss.
The closed postion sheet has columns for long or short, entry date, price, shares, commission, fees and net costs; then the same information for exiting the postion with a final column for my net on the trade. The top row of the net proceeds columun sums the column so I always know where I am for the year to date, I also set summations for each week and month in separte columns so I know how I'm doing week by week and month by month.
I find this takes only a few moments to keep up to date after a trade. When I close a postion and add the information to the closed sheet I just delete the row in the open postions sheet. When I take a new postion I insert a row in the open sheet and fill in the the data. This way I know at a glance how each trade is doing, what percent it's up or down, as well as dollars, and use this along with how the market is behaving as to whether to continue to hold or to close the postion. I keep excel open with both sheet but size execel so I only see the open postions sheet in less than 1/4 of the screen; Alt+Tab will bring it to the forefront, or clicking on my trading software brings the trading platform to the front, hiding Excel.
Most of the columns in both sheets are formula driven so I only have to enter ticker, shares and prices.
I hope that helps
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