We launched tags on Console last year. Using tags on Console you can tag holdings to a goal like retirement, child’s education, etc. You can then view the portfolio by tags or goals. You can also tag trades to create custom P&Ls based on all trades tagged. Such custom P&L can then act as a trading journal. So, for example, if you tag all trades taken based on a certain technical analysis strategy (say RSI), you can filter the P&L by that tag to see the net P&L.
This post which we shared last year talks about tags on Console.
One issue with Console tags is that you can tag holdings or trades only at the end of the day, that is, after taking a trade, which is easy to miss. We now have tags on Kite web, so you can tag a trade to a goal or reason for taking a trade (trading journal) while placing the order itself. At the end of the trading day, all tags get automatically imported to Console holdings and P&L. You can then use the tag filter to track your goals, what strategies or reasons for taking a trade are working, and what are not. Knowing what works and what doesn’t and doing more of what works is probably the best way to improve as a trader.
Kite tags are available on the Web and will soon be on Mobile. We will introduce tags on Coin for mutual funds as well.
This is how you can tag orders while placing them on Kite web.
Hoping that Kite tags help you better track goals and get better as a trader. We will make an official announcement on our blog Zconnect in a few days.
This is currently in beta, and if you spot any issues, do let us know below.
By the way, the next step with Kite tags is to show the historical P&L of a particular tag while an order is being tagged. The idea is to nudge users even before an order is placed if the reason for placing an order has historically worked or not.
Thanks for the continuous improvement of Kite.
I currently monitor the XIRR at an account level manually. A simple bird’s eye view - Money in, Money Out, Portfolio Value. Any chance something like be considered at a portfolio level ?
TIA
We are working on the equity curve for the account and a plot of the daily NAV for the account. Similar to how MFs do it. Quite a complex project given the size of data and all the crunching that needs to be done to be able to do this across millions of customers.
I’ve found some issues with the tags feature which I’m highlighting below
Let’s say I go long on BAJAJ-AUTO22DECFUT and exit the position. Then I short the same ticker and exit that position as well. So there are 4 trades, two tagged as ‘long-futures’ and remaining 2 tagged as ‘short-futures’. ‘Portfolio > Tags’ page shows incorrect P&L for such trades having multiple tags
Let’s say I have an open long position in BAJAJ-AUTO22DECFUT qty 250. When I place a single sell order with 500 qty, in effect I’m exiting the existing long position and creating a new short position. When I try to tag these two trades separately as ‘long-futures’ and ‘short-futures’ it automatically applies both tags to the trade since the order id was common
There should be same tag for the entry and exit of any strategy. In your case, the first buy & sell should be tagged as “Long futures”, and the next sell & buy orders should be “Short futures”.
If you apply multiple tags for an order, it is applied to all the successful trades in that order. The Kite doesn’t calculate which is the entry or exit order as per the chosen tags. Auto-tagging exit orders is on our list of things to do.
We’ll look into the possibilities.
We’re checking this, someone from our team will reach out.
While some of them are applied instantly, some of them are taking forever to apply. Even after 3 days I can still see them in “Pending” state(SS attached)
If an instrument is attached with multiple tags, say 10 units with Tag A and 10 units with Tag B, and I filter my holdings with Tag A, the entire quantity of 20 is shown against that instrument instead of just 10. This makes it difficult to keep track of your portfolio
Firstly, i really appreciate you for this amazing feature. My doubt is, how is it nudging before order is being placed? Discretionary trading or System trading?
It will be good if we can keep a screenshot of chart in tags to know from where we entered the trade and exited the trade. And a small notes feature to note down fundamentals or events happened on that day. So that when we look historical trades we can identify mistakes easily. It will help technical traders very much.
Also a small graph showing total wins and losses in the selected period.
When we place an order with tags from Kite, the tag details are sent in the following format: t:tag:id
If a user uses the same format to tag an order via the API, it will be displayed in the console. Currently, it is not possible to create this tag using the API since tag creation happens on the console.
