Tagging helps you get the most out of your trade journal. They help you identify what setups you’re taking and what mistakes you’re making, providing an organized way of analyzing them.
When it comes to applying a tag, the most important thing is to be very honest with yourself.
Maybe you did not actually have a setup when you took the trade. Instead of leaving it blank, add a “No Setup” tag to track how many trades you’re taking without a setup.
Maybe you took a trade out of boredom. Tag this as a mistake so you can learn from this moving forward.
How to apply tags:
You can apply tags from the Trade Tracking page and Daily Journal page. For detailed instructions, refer to the help article on applying tags.
Analyzing Your Tags
Tagging is a great way to analyze your trades. Your reports show you exactly how many trades you took with a particular setup or a particular mistake, and how successful or unsuccessful those executions were.
This way, you have an organized and structured approach to see which setups or strategies you need to adjust or re-optimize, or what mistakes you need to be more mindful of.
Reports Based on tags:
Go to the Reports page: Reports.
On the sidebar, scroll to the Tags section. From there, you will see all the categories you have created. Each category will show the reports of all the tags you have created.
In each report, you will see different things:
Trade Distribution
Visual representation of the number of trades tagged for each tag.
Performance
Visual representation of the total realized P&L for each tag.
Summary
Provides a detailed summary of your trades based on tags. Shows key statistics like Net profits, Total losses, Total Winners, and much more.
Click on a tag to see all the trades tagged with that particular tag.
Filter Trades Based on Tags
You can use the filter feature to filter trades based on the tags you have applied to your trades.
For example, if you tagged your trade with the ‘news hype’ setup category tag, you can use the filter option located at the top right center of your screen. From the filter option in the setup filter dropdown, you can filter trades based on that tag.
You will be able to see all the stats for all the trades that you have with the specific tag.
Best Practices
Never leave the tag spaces blank: Be honest when you don’t have a real setup by tagging “No Setup.” This will give you a better idea of how you’re trading.
Keep a notepad handy: During a trade, jot down any mistakes you catch yourself making. This way, you won’t have a hard time recalling them when it’s time to do your recap.
By effectively using tags, you can analyze your trades more efficiently and gain valuable insights into your trading patterns.
Need further support? Contact our support team at support@tradezella.com.