When is the best time to create "Numeric" Tag?
For example. Let’s create "TP Non-income" Tag in points. It means when trading we set TakeProfit at a particular level. For each Trade we specify how many points the price does not reach our order, turns down, and we don’t get income or we get non-income. For TP, we set 0 for Transactions, that is, the price does not reach the order. For SL the price was far from TP, here the Trades’ value is -1.
Let’s assign the appropriate value to each Trade
Trading Journal looks like this:
Now open the report and see what happens and how this can help us:
We see that most non-income Trades resulted from the fact that the price did not reach TP. If we set TP order at 10 points less, then we could have 6 income Trades more, but we get 6 extra non-income ones. Each Trade should be examined and analyzed to see why the price did not reach our orders and turned away. One of the possible reasons is strong support/resistance, or we were too greedy.