Trade Entry Journal
- Utilitys
- Lee Jingquan
- Version: 1.0
Trade Entry Journal is your ultimate solution for streamlining trade entries and journaling. Designed specifically for forex traders, this powerful tool automates the tedious tasks of calculating lot sizes, placing trades, and documenting your trading activities. Say goodbye to manual entries and focus on making smarter trading decisions.
Key Advantages:
- Automated Lot Size Calculation: Calculate the perfect lot size based on your stop loss level and risk amount. The lot size will be adjusted to the nearest typical minimum lot size increment of 0.01. For instance, if the calculated lot size is 0.025, it will be rounded up to 0.03, and if it is 0.253, it will be rounded down to 0.25. Due to this rounding, expect some minor adjustments to your risk amount.
- Efficient Journaling: Automatically capture and save detailed screenshots of your charts, providing a comprehensive trading journal. In addtion, as Trade Summary text file will also capture some basic information about the trade as well as the reason for entry.
- Time-Saving: Spend less time on administrative tasks and more time on analysing the markets.
- Enhanced Accuracy: Improve your trading precision with automated calculations and entries.
Features:
- Trade Operation: Choose between Buy or Sell operations for your trades.
- Risk Management: Input your risk amount in the deposit currency and set your desired risk-reward ratio.
- Entry Reason: Optionally, document the reason for your trade entry to keep a detailed journal.
- Screenshot Capture: Automatically take screenshots of medium and high timeframe charts for thorough analysis.
- Slippage Control: Set the maximum allowable slippage to ensure your trades are executed at the desired price.
Input Parameters:
- Trade Operation (BuyOrSell): Select Buy or Sell to define your trade direction.
- Risk Amount (RiskAmt): Enter the amount you are willing to risk in your deposit currency.
- Risk Reward Ratio (RiskReward): Define the risk-reward ratio for your trade.
- Entry Reason (EntryReason): (Optional) Input the reason for your trade entry.
- Medium Timeframe Chart (MedTfPeriodMin): Set the timeframe for medium chart screenshots.
- High Timeframe Chart (HighTfPeriodMin): Set the timeframe for high chart screenshots.
- Slippage in Points (SlippageInPoints): Specify the maximum slippage allowed in points.
How It Works:
- Draw the Stop Loss Level on the Chart: Use my free script (DrawStopLossOnChart) to draw your desired stop loss level on the chart as a horizontal line.
- Attach the EA: Load the Auto Entry Journal onto your chosen forex pair chart.
- Configure Parameters: Input your trade settings, risk parameters, and desired screenshot timeframes.
- Execute: The EA calculates the optimal lot size, places the trade, and captures detailed screenshots, logging every detail automatically.
Trade Entry Journal is the perfect companion for traders seeking to enhance their efficiency and accuracy. Simplify your trading workflow and focus on what truly matters – making informed trading decisions.
