| lgphil |
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Gold User, Member, TeleChart
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| Unsure |
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| Monday, October 3, 2005 |
| Saturday, September 28, 2013 10:32:06 PM |
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Thank you Administration!
I'm just wary of starting something that may bring about problems.
The TD REI Indicator is clearly explained in this book, but I know that might not be license to use a proprietary and copyrighted indicator. However, I think since it has made public awareness without reservations, I would think it is now in the public domain. Kinda like Coke posting its "secret" formula on the Net.
Thanks!
P.S. I have on another Charting software I have.
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If you have a spreadsheet program, try entering columns for wahtever you want to track. Example is Columns 1)Trade Number 2) Entry Date 3) Long or Short 4) Ticker 5) Size-how many shares traded 6) Entry Price 7) Commission 8) Fee 9) Toal Entry Price X Size + Commission + Fee 10) Exit Date 11) Exit Price 12) Commission 13) Fee 14) Total Exit - Exit Price X size - Commission - fee 15)P/L or Profit/Loss calculated by spreadsheet formulas you enter
I left out several columns to simplify this. I also enter columns for Entry Grade, Exit Grade, and Trade Grade, as well as a few others. I use the "Insert Comment" of Excel to add notes about why I entered a trade based on TA, FA, etc...
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Maybe I should ask exactly what sort of records you are specifically interested in. Is it for trade tracking with gain/loss, percent gain/loss, cost basis and dollar gain/loss, etc....
These can all be accomplished with many on-line portfolio's. I still prefer Quicken, or Money, or PRK for tax reporting reasons. PRK is Portfolio Record Keeper, a software program programmed in Foxpro that records buys, sells, gain/loss, percent gain/loss, etc.... PRK compares your port's performance with indices, as does Quicken or Money. The main thing with Quicken or MS Money, or PRK, is it gives many reports not available through online sites. These are very helpful at tax time.
What software did you try of Elder's? I have a few indicators based on his methods. Does he offer software? Why did it fail for you?
I thought the main thrust of your question was not simple recordkeeping for gains/losses, etc...but for learning from mistakes and wins. This can only be accomplished from accurate recordkeeping.
Good luck!
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For financial recordkeeping I use Quicken and also have tried PRK (Portfolio Record Keeper). You can also use sights like MSN MoneyCentral or other to see gain/loss, etc...Quicken or PRK is very useful at end of year tax time, where you print out sold securities with cost basis and profit/loss.
For learning purposes, I use a "Trader's Spreadsheet" made in Excel or any spreadsheet program. I track about 20 columns of info pertaining to trade, from # shares traded, price paid, comission, fees, etc., to trade entry/exit grades. I also make use of a "trading diary" with printouts of charts with various indicators and notes as to why I entered a trade, profit targets, stop losses, etc..as well as printouts of charts on exits. These are very helpful at understanding and learning from your wins and losses.
I also utilize the ABC Rating system for review of my watchlist for better time management.
These techniques are all found in the book "Come into my Trading Room - A Complete Guide to Trading" by Dr. Alexander Elder.
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I have a question regarding the TD Range Expansion Index or TD REI, developed by Tom Demark. It is a proprietary indicator which Tom DeMark discusses in the book "New Thinking in Technical Analysis". He describes the construction of this indicator.
Since it is proprietary, but discussed in this book, can we discuss its construction with violating any copyrights?
Thanks!
LGP
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