Great Tools for Traders

Forex Factory just launched a great new tool. Trade Explorer enables traders to see basic and also not so basic statistical analysis of their trades, such as average trade return and average drawdown. Here’s a quick look.

It’s important to note that the synchronization with real time data from the brokerage account allows viewing data in real time. So it’s not only historical, anecdotal analysis, but also a t real time tool. I had the chance to examine the system and I must say it works fast – this is valuable when the market moves fast.

60 graphs are available to MT4 traders and quite a few important indicators. For example, the “Open leverage” feature shows how close the trader is to a margin call – what his actual leverage is. This is critical information that isn’t widely available. “Gap” shows how many pips away the order is from the market.

Sourced ForexFactory