IBFX-Trade Analyzer
We came across this very helpful tool. It will only work if you have a live account with Interbankfx. We are not promoting IBFX but if you use this brokerage firm this is a cool tool. Just for your information and enjoyment.
What is IBFX-Trade Analyzer?
Many traders measure their results based solely on overall profit and overall drawdown. This provides some level of trading analysis however there is much to be learned from a closer examination of your overall trading behavior. Imagine optimizing the currency pairs, the individual positions and profit target / stop loss settings based on your actual trading history.
Enter the IBFX Trade Analyzer. This remarkable tool helps you accomplish all of this and more by examining your historical trades over a given date range and creating a comprehensive statistical report. It is the perfect tool for new traders who are developing a trading plan, or current traders who are reviewing current performance to pinpoint their own weaknesses and strengths.
How Does it Work?
The Trade Analyzer will help you quickly assess which currency pair you have had the greatest success trading. For example, if you run the report and see that over the last month you have been profitable on GBPUSD while all of your EURUSD trades have been unprofitable, you may choose to avoid the specific currency pairs that do not perform well with your trading plan.
The Trade Analyzer report also displays the performance broken out by short and long positions. You can quickly review your trading history to see if your strategy performs differently depending on if you take a long or a short trade. This information is available for all symbols and for each symbol you have traded.
Finally, the IBFX Trade Analyzer will calculate your average profit and your average loss in pips.
The IBFX Trade Analyzer helps you get a more detailed view of your historical trading performance and gives you information to help you tweak your trading plan.
Key features of the IBFX Trade Analyzer:
• Calculates data from total number of trades (“All Symbolsâ€), as well as data from individual currency pairs (e.g. EURUSD, USDCAD, GBPUSD, etc.) within a given date range
• Allows traders to quickly distinguish currencies that they have been statistically more profitable trading
• Displays comprehensive data on each position type (i.e. total number of “All Tradesâ€, “Long Trades†and “Short Tradesâ€)
• Displays total number of trades that won/lost/broke even
• Calculates largest profit/loss in pips, as well as average profit/loss in pips
• Calculates average duration in total minutes in trades, as well as average number of minutes in winning / losing trades
Obviously your past results are no indication of future performance, however we believe that by analyzing your past results it may help you make better decisions in the future.
Setup & Use
Step 1: Create a Web Account
Click here to create a Web Account.
Step 2: Associate your Trading Account
Click here to add a Trading Account to your IBFX Web Account.
Step 3: Analyze your History
Click on "My Trade Accounts" from the login dashboard, then click on the Trade Analyzer button.
If you have already created a Web Account and associated your Trading Account, click here to go directly to the Trade Analyzer.