User reports (reports on tags of Trades)
In our opinion, we shall start with the most interesting and useful - with user reports. In any case, it's as useful as the Sortino or Sharpe ratio.
For example, we added a new tag 'Market area' with values: 'Trend', 'Flat', 'Indefinite'
You can create different tags on your own.
In Trades, we set values for each tag (we'll give more details on this subject below).
What does it give us? After adding a new tag, a new report type with the same name appears in the reports. Open the report form and select 'Market area' as the report type. Let's see what we get:
What conclusion can we make? Using our trading system you should not work with 'Indefinite' area of the market since according to statistics we bear losses using it. It is better to refrain from working with such area and finalize our strategy.
Let's see how we added tag. To do this, we opened the 'Trade Tags' directory (Menu --> Trade Tags), clicked the 'Add' button and filled out the forms as follows:
After we created new tags, new columns were added to the Trading journal and this allowed us to set values for each tag in Trades
Trade tags make up a powerful tool for every trader, allowing you to analyze your trade as profoundly as possible and get detailed statistics on your trading systems. Be sure to use them in your work, without the statistics looking inferior.