in our trading journey, we always listen that journaling your trades is the best way to improve your trading, but traders like me who have no knowledge of coding or Microsoft excel always jump on google and try to find some trading journal. after searching for hours on the internet you get some paid application but they don’t import your broker’s statement, so everything you have to do it manually.
can zerodha work with the company like “Edgewonk” whose trading journal is fantastic to improve someone’s trading or can zerodha launch their own product like “Edgewonk” to help its own trading clients?
Till Zerodha comes up with such a (must-have) application, we built one up for ourselves on Zoho Reports for free.
It was a little time consuming at first but with a little bit of automation, we get the trades (from Zerodha, Sharekhan etc.) into Zoho and all the pre-defined dashboards, reports, stats etc. take care of themselves.
Zoho reporting is very powerful and its dashboards are nothing short of other professional journals. We have built equity curve, success rate charts (over different time frames), trade notes, drill down functions, and all sorts of slicing/dicing based on strategy/instruments/asset classes.
I think it’s worth a try.
Maybe other traders will find it helpful if it is possible for you to share the template.
I can share the screenshots of the Zoho reports but that would not help much because the real work is happening in the underlying queries and table structures . Let me work with my techie guys to figure out a way to share these details.
I don’t trade but I see that there are a lot of traders here. I’m just thinking that maybe they will find it useful if you could figure out a way to share the template.
can we have a link for that?
Here is the link for signing up for Zoho.
Scroll down to the bottom and sign up with the free plan. You will get access to their reporting features but then you need to have some database knowledge in order to build queries and dashboard. I hope I can share more info about how our reports wok soon but till that happens, give it a shot.
what is this? are you trying to sell something here?
my question was for zerodha team
I know that your question was an enhancement request for Zerodha team. I was just sharing what we use for reporting - an application that is available free for anyone to use.
Wondering how you got the idea that I was selling something.
Can you at kindly share us some screenshots.May help few people here.
I have been using Zoho free for a while now. - never paid a dime
Here are a few screenshots for your reference. My advice is to just get started and you’ll eventually figure it out. It’s not that hard.
Hope this helps.
One question - Have you created form and you fill trades manually…?
or you pull data from your Zerodha Account using Kite Developer API…?
Thanks for the information.
what made you choose zoho over google sheets?
I prefer to manually add the trades WHILE i am trading because that’s the best time for logging. I can log which strategy was used for the trade, which setup, initial SL etc. Since I don’t take more than 3-4 trades a day usually it doesn’t take much time.
Another way to do this is to just directly import the trade log from Zerodha into Zoho via CSV file. We (@ VRDNation) are also exploring the direct integration using API but that’s still in the pipeline along with other enhancements.
In my opinion, Google Sheets are great for collaboration and a lot of things such as getting data from Google finance etc. but when it comes to slicing and dicing data based on twenty odd parameters, I would rather go to Zoho (or similar reporting platforms) because that’s what they do and they are really good at it.
If you are using windows 10. Try Quantsense.
You have to manually enter the data but it is quite informative over long time.
Thanks for this wonderful share. You’ve really pointed me in a right direction with Zoho.
May I request you to give me some pointers on how you are closing each trade?
Trade entry and exit are two different rows, so what’s the best way to connect the two trades?
Is there an automatic way in ZOHO or you do it manually in the CSV/xls?
Thanks once again.
Log each trade as one row so that reporting becomes easier. Here’s how you can design your columns initially and later on add more columns as required:
Date, Entry Time, Exit Time, Direction (Long/Short), Buy Price, Sell Price, Profit (Amount), Profit %
You can easily do this is Excel first and import that spreadsheet in Zoho. Basically if you play around with Zoho for some time, you will understand how it works.
My main advice is to use reporting for getting insights into your trading rather than just for checking profits and losses. I have added several other columns in my system so that I can see:
- Which strategy is working better in which kind of market
- Which strategy is giving bigger profits
- What’s your profit factor (Avg. Profit/Avf Loss)
- Sucsess rate
an pretty much anything you want to analyze.
Thanks a lot for all your inputs.
i created a google sheet and was happy to discover that Zoho is able to neatly access the same and update the dashboard. I still have a lot of figuring out to do in Zoho. But for now am preferring to do all the calculations in google sheets.
This is truly getting interesting, can’t thank you enough.