Money Management Software

[coopster]

Hi guys,

Just interested to know if any of you hardened Pros use a software package to manage/document your trades to save the time in writing it all down.

I'm not talking about automatic systems, just a way of determining risk/reward ratios, Investment Size etc which is quick.

I have seen JBL Risk Manager (150 quid!) which links to metastock data to oversee trades and even flash up alerts etc based on what you have input.

Anyone recommend anything different? At the moment i just use Excel.

thanks

G

 

[Trader333]

Excel is pretty good in my view and can even be updated from a realtime data feed. I have used Tradestation to give some money management alerts but these are based on me writing my own criteria into Easlylanguage studies. It all depends on what your needs are.


Paul

 

[coopster]

I have effectively a "Permission to Trade" form that i complete each time i see a potential trade. This then shows me what capital i am allowed to risk and where to set my stops etc to stick to the 2% and 6% rules i have adopted from Dr Elder to protect my Capital.

The same Excel file acts as my diary too where i document thoughts etc as the trade is in progress.

I would definitely be interested to know how to get excel to update automatically from my EOD data feed (Reuters Datalink). This way, each time i load up the Excel sheet, it will show me the exact status of the trade and if i am nearing my stops etc.

Can you give me an idea of what functions in Excel i am looking for to achieve this? I can research on the net once i know where to begin. I'm not a good programmer.

thanks

 

[Trader333]

As I do not use the Reuters datafeed then I am not able to say as it will have a lot to do with the syntax used by their platform.


Paul

 

[jorune]

Hi guys,

Just interested to know if any of you hardened Pros use a software package to manage/document your trades to save the time in writing it all down.

I'm not talking about automatic systems, just a way of determining risk/reward ratios, Investment Size etc which is quick.

I have seen JBL Risk Manager (150 quid!) which links to metastock data to oversee trades and even flash up alerts etc based on what you have input.

Anyone recommend anything different? At the moment i just use Excel.

thanks

G

There is Market System Analyzer (MSA) from Money Management Trading Software -- Adaptrade Software. It has a 30 day trial period.