TOOL'S CONTENTS & STRUCTURE
In-depth demonstration for the 5 sections of the tool
This tool consists of 5 main sections covering the forex trading cycle's setup and the 4 different perspectives for money management. 1: trading cycle's rules which is the set of rules for the active trading cycle, 2: "active checkpoint" perspective where all the information regarding the active checkpoint are shown in addition to the controls to close a checkpoint, 3: "completed checkpoints" perspective showing all the information for closed checkpoints, 4: "trading cycle" perspective where all information regarding the target of the trading cycle are shown, and 5: "briefcase status" perspective which shows information for the absolute standing compared to the initial trading balance, in addition to the controls for closing or discarding the trading cycle.
To demonstrate the tool, all the screenshots below are taken right before closing checkpoint #9.
1: TRADING CYCLE'S SETUP
trading cycle's rules
This part is a reference for the rules controlling the active forex trading cycle, and the values used at the time of creating it.
- Originator: tool used to create the trading cycle.
- CP count: total checkpoints planned for trading.
- CP benchmark: profit benchmark per checkpoint (target curve).
- Risk type: chosen risk type, either "fixed cash" or "fixed percentage".
- Target profit: target profit in cash, and in percentage with respect to starting balance.
- Per CP profit: target profit per checkpoint in cash and percentage.
- Per CP loss: sustainable loss per checkpoint in cash and percentage.
- Win/Loss: win/loss factor, this is only shown when originator is "Step-by-Step".
2: "ACTIVE CHECKPOINT" PERSPECTIVE
active checkpoint perspective - dashboard
This first part of this perspective is a dashboard consisting of three main parts, detailed below.
This part shows the starting balance for the active checkpoint, in addition to it's thresholds in terms of cash and percentage for both profit and loss. The mini chart shows a visual representation for closing balance and thresholds for the most recent 9 checkpoints, in addition to thresholds of the active checkpoint.
This part shows the total trades for the active checkpoint (closed or active trades), in addition to the count of winning and loosing closed trades.
This part is responsible for monitoring and closing checkpoints. "Trades standing" shows the current standing for the active checkpoint as recieved from "Active Trades" tool. "Close checkpoint" have a drop down menu with four options, the first is the checkpoint's standing as recieved, second is "profit amount" which enables direct entry of the amount of cash earned, third is "loss amount" which enables direct entry of the amount of cash lost, and the last is "New balance" which enables direct entry of the closing balance for the active checkpoint. "Closure balance" will show the final balance that will be used to close the checkpoint as per the choice and entries made before. And lastly, "close active cp" button will close the active checkpoint and start a new one when clicked.
active checkpoint perspective - tabular data
The second part of this perspective is tabular data showing the opening balance and thresholds for the current and previous checkpoints, in addition to the closure balance of all the previous checkpoints.
3: "COMPLETED CHECKPOINTS" PERSPECTIVE
completed checkpoints perspective - dashboard
The first part of this perspective is a dashboard that consists of two panels, in addition to "delete last CP" button which will permentatly delete the last closed checkpoint.
COMPLETED CHECKPOINTS STATUS
Shows the total number of closed checkpoints during the active cycle, detailing how many of them were winners and how many were loosers, it also shows the win/loss ratio.
COMPLETED TRADES STATUS
Shows the total number of closed trades during the active cycle, detailing how many of them were winners and how many were loosers, and it shows the win/loss ratio. If checkpoints are used for single trades, this factor will always be the same as checkpoint's w/l factor. while if the trading cycle involves checkpoints with multiple trades, having both factors can greatly help users study their performance more thoroughly.
completed checkpoints perspective - tabular data
The second part of this perspective is tabular data showing the total win or loss in both cash and percentage for each completed checkpoint with respect to its own opening balance.
4: "TRADING CYCLE" PERSPECTIVE
trading cycle perspective - dashboard
The first part of this perspective is a dashboard that compares the last closed checkpoint's balance to the target benchmark balance for that checkpoint, giving information for the amount in cash above or below the target.
The chart visually represents the most recent 9 checkpoints and the target benchmark line.
trading cycle perspective - tabular data
The second part of this perspective is tabular data showing the target balance benchmark for each completed checkpoint, and the difference between that balance and the actual checkpoint's closing balance.
5: "BRIEFCASE STATUS" PERSPECTIVE
briefcase status perspective - dashboard
The first part of this perspective is a dashboard showing the current standing in terms of total cash won or lost, and the percentage of that cash compared to the initial trading balance for this forex trading cycle. It also contains two bars that visually represents progress towards the cycle's target or maximum sustainable loss.
The chart visually represents the most recent 9 checkpoints and the breakeven line.
The "close plan" button will save the active trading cycle into "Trading Cycles" history tool, while "discard plan" will permentatly delete the active trading cycle. Doing either action, will disable this tool and let all trading and harmonic tools act as standalone tools till a new trading cycle is activated.
briefcase status perspective - tabular data
The second part of this perspective is tabular data showing the briefcase standing at the end of each checkpoint, and the percentage of that standing compared to the initial trading balance for this forex trading cycle.