‘Trade Explorer Product’ Archive

Get a fresh start with Trade Explorer

Tuesday, March 20th, 2012

With the new ‘Custom Start’ feature, you can now specify a date that your Trade Explorer begins including brokerage account history. Strategies change, styles evolve, traders become smarter — all are good reasons you might want to exclude old performance from your metrics. While traders shouldn’t forget lessons of the past, it’s a lot easier to analyze performance when irrelevant trades are excluded.

To set up a custom start date, click ‘Options’ at the top-right of your Trade Explorer, and enter a date in the ‘Custom Start’ section, as shown below.

You may have also noticed that we recently changed the graph setup on the ‘Overview’ tab. Instead of one Flash-based graph, the Trade Explorer now has four image-based graphs on the main tab. This change gives you a thorough overview of the account with just a glance, plus it loads faster because it’s no longer based on Flash technology (which was our initial motivation for changing).

The new graphs also interact with the ‘Performance’ table rows — click the small blue icon on each row to make the graphs represent only that particular period. This is a handy way to zoom in on performance for the year, month, week, or day.

Haven’t tried the Trade Explorer yet? Get started here! Or if you have feedback or ideas for improvement, we’re always glad to hear from you.

Posted by Danny, Trade Explorer Product Manager

Explore charted trades

Tuesday, November 29th, 2011

You’ve probably seen this awesome feature on the more advanced trading platforms — and now the Trade Explorer has it too!

To open a charted trade, just click the chart icon () for any trade on the Trade List tab. You can also option to show other trades on that instrument by checking ‘Show Surrounding Trades.’

Haven’t tried the Trade Explorer yet? Get started here! Or if you have feedback or ideas for improvement, we’re always glad to hear from you.

Posted by Danny, Trade Explorer Product Manager

Trade Explorer: for pro traders

Friday, November 25th, 2011

If a hedge fund manager tells you he’s “up 8% this month,” he’s invariably including the profit/loss of his open trades. That’s because the financial industry speaks in terms of equity, which includes the marked-to-market value of open trades. And it’s that way for a reason — the profit/loss on an open trade is every bit as real as on a closed trade, and performance metrics can be completely misleading when open trade activity is excluded.

As Product Manager for the Trade Explorer, I hear from members who are concerned that their Trade Explorer’s statistics are not as favorable as shown on other sites offering trade analytics. Most of the time the discrepancy is due to the trader carrying open losses in their account, which are only being accounted for on their Trade Explorer.

To illustrate this point, I opened a demo account and entered ten random trades. Then I closed the five trades that were winning and left the losing trades open. Here are a few metrics, for the same account, from Trade Explorer and Myfxbook:

Trade Explorer Myfxbook
(more stats) (more stats)

The account performance looks a lot better on Myfxbook because their statistics are based on balance, thereby ignoring the huge open loss. Since the Trade Explorer’s statistics are all based on equity, the open loss is reflected throughout all metrics, making the performance appear worse.

It’s not just these top-level statistics that are affected by the choice of equity or balance. Periodic metrics (e.g., How much did I make yesterday? How much did I make last February?) will change dramatically depending on how open trades are accounted for.

Out of the other eight sites we know of offering Forex performance analyzers, half of them are mostly balance-based, three are somewhat equity-based, and only one does a good job of reporting equity throughout. Since the Trade Explorer is one of the two analyzers that is completely equity-based, there’s a good chance your performance will, at times when you have an open loss, look worse on the Trade Explorer than elsewhere.

While this may keep some people from using the Trade Explorer, equity-based statistics are a must for professional traders. And professional traders are who the Trade Explorer was built for! We went to great lengths when developing the product to ensure that it was in line with financial industry standards, and that everything was based on equity.

Btw, we know balanced-based statistics do have their use. They can be helpful in performing what-if scenarios, for example. That’s why the Trade Explorer was built with an ‘Equity/Balance’ toggle that allows you to flip to balance-based statistics when needed.

If you have any questions or feedback, please send us some mail!

Posted by Danny, Trade Explorer Product Manager

600 ways to explore your performance

Tuesday, November 22nd, 2011

When we launched the Trade Explorer there were 60 graph combinations available. With the overlay graph feature added today, there are now more than 600 possible combinations! Here’s just a few of the insightful graphs you can now produce:

Overlay graphs replace the single y-axis with two y-axis scales, one on the left of the graph and one on the right. Both axes can be adjusted with the options below the graph, giving you the flexibility to analyze your trading performance however you want. After some practice with the graph you’ll be able to quickly find answers to questions about your performance, and you’ll begin to understand your strengths and weaknesses from a visual perspective.

Oh, and now you can modify the graph colors too. :)

Posted by Michael, Forex Factory Product Developer

Expand your Trade Explorer

Tuesday, November 15th, 2011

It just got a lot easier to access your Trade Explorer! Today we launched the ‘Expand’ functionality — a link at the top right of your Explorer which expands it to a full-page view. It’s like having the Trade Explorer’s four tabs open all at once, and the expanded URL can be bookmarked for quick future reference.

Speaking of bookmarks, we’ve implemented a number of “permalinks” into the Trade Explorer. Most of the links within your Explorer will now update the browser URL, which can then be bookmarked or sent to a friend. For example, all of the following links work for aediaz1′s Trade Explorer:

- Overview tab: forexfactory.com/aediaz1#22
- Trade Report tab: forexfactory.com/aediaz1#22-report
- Trade Graph tab: forexfactory.com/aediaz1#22-graph
- Trade List tab: forexfactory.com/aediaz1#22-list
- Trade List page 2: forexfactory.com/aediaz1#22-list+pg2
- All expanded: forexfactory.com/aediaz1/22

Please contact us if you find any issues or have a request. I handle all Trade Explorer support, and I can tell you the product wouldn’t be nearly as good without all the feedback from you guys!

Posted by Danny, Trade Explorer Product Manager

Trade Explorer + OANDA’s fxTrade

Monday, November 7th, 2011

Forex Factory is pleased to announce that the Trade Explorer now connects with OANDA’s fxTrade platform! The legions of fxTrade users finally have a compatible performance analyzer. :)

fxTrade users: Get your Trade Explorer started here!

While fxTrade-based Explorers look identical to those based on MT4, they connect to trading accounts using different authorization methods. Instead of using an Investor Password, like MT4, OANDA developed a page on the fxTrade interface where traders can grant the Explorer read-only access to their trading history. It’s a secure, modern setup that gives you complete control over access to your trading data. We’re proud to have been chosen to beta-test for OANDA, and we think the final product turned out fantastic.

Please contact us if you have any problems getting your Explorer set up, or if you have any requests. I’m always glad to hear from you guys!

Posted by Danny, Trade Explorer Product Manager

Placement features for Trade Explorer

Friday, June 3rd, 2011

After working out the kinks and solidifying the infrastructure, the Trade Explorer is now out of beta and we’ve started adding features. The first set of features give you great flexibility in where you can place your Explorers around the FF website, making it almost effortless to keep track of your performance.

Page placement
Now you can view your Explorers on the FF homepage, Calendar page, News page, or Market page — it’s up to you. Click Options in the top right of your Explorer to modify its placement.

Thread linking
Any public Explorer can now be linked to any Forum thread. Once linked, the Explorer will be displayed at the top of the thread, making it easy to discuss your Explorer with others, or discuss another member’s Explorer. To link an Explorer, click Thread Tools > Thread Options on any thread you’ve started.

Display order
If you have more than one Explorer, you can now specify the order in which they stack on the page. This control lets you align your Explorers in a way that works with your trading habits. Click Options in the top right of your Explorer to modify its order. Remember, this option will only appear if you have more than one Explorer.

If you have feedback or ideas for improvement, please contact us!

Posted by Michael, Forex Factory Product Developer

Trade Explorer beta launched

Thursday, February 24th, 2011

Broker platforms leave much to be desired in regard to analyzing your trading performance. Most traders don’t know basic performance statistics about their trading, such as average trade return, Sharpe ratio, and maximum drawdown, and it’s rare that a trader even knows what their equity curve looks like. It’s hard to improve if you don’t know where you stand.

The Trade Explorer is Forex Factory’s answer to this problem. It’s an online interface that connects with your MT4-based brokerage account to put hundreds of metrics and over 60 graphs at your fingertips. Explorer not only helps you evaluate your historic trading performance, but it automatically synchronizes with your brokerage account to give you real-time analytical capabilities. Create a Trade Explorer or read operational details in the user guide.

Create a Trade Explorer

See Explorer in Action

We didn’t invent the concept of a performance analyzer, but we have taken it into new territory. Here are a few features that set Explorer apart:

  • Auto sync
    Automatically synchronizes with your brokerage account, even with the platform closed, allowing you to monitor your performance from anywhere with an Internet connection.
  • Equity|Balance toggle
    Allows you to display performance metrics based on either equity or balance.
  • Time zone control
    Can be set to reflect any time zone, allowing you to match your broker’s time zone or adjust when the day begins.
  • Gap
    Pending orders display a metric we call ‘Gap,’ which shows how many pips away the order is from the market.
  • Open leverage
    Displays leverage of open positions in the familiar “XX:1″ format, helping you easily identify how far from a margin call you are. Look for the ‘Lev’ column on the ‘Open Trades’ table.
  • Help icons
    There are help icons () for every metric to tell you precisely how the calculation is made. Hover on the icon to expand the help caption, or click it to hold the caption open.
  • Interactive graph
    Flexible design allows you to set the X and Y axis to your preference, giving you a high degree of control. Over 60 combinations available.
  • Industry stats
    Reports statistics in the same industry standard format used by CTAs and hedge funds.
  • No fake results
    Direct connection to brokerage accounts makes it impossible to fake trading performance. No need for a verification system — all Explorers are connected to a legitimate brokerage account and the live/demo distinction cannot be faked.

Currently Explorer is only compatible with MetaTrader4-based brokerage accounts. We plan to incorporate other platforms in the future. We’re still in early stages of development so your feedback is really important at this time. Let us know what you think via the contact form.

For more details on Explorer, please read the user guide.

PS, a huge “Thank You” to the beta-testers who helped us with this project!

Posted by Michael, Forex Factory Product Developer