The Trading Statistics addon is a crucial aspect of a trader's toolkit as it can significantly improve performance by exposing ineffective trade execution, offering valuable insight into potential order placement strategy refinement, leading to optimising edge. This tool provides valuable information about a trade's current state, including its entry price, profit and loss, and the potential outcomes based on market movement using post trade exit analysis. With real-time information about entry price, profit and loss, and potential outcomes traders can make data-driven decisions to adjust orders, manage risk effectively and maximise profits. Additionally, the tool can also provide insights into market conditions, helping traders identify suboptimal behaviour patterns and trends in opportunity execution. By effectively utilising the Trade Stats Tool, traders can enhance their overall trading strategies, leading to better decisions on actual execution data and “expectancy” leading to more profitable trades.
How the Trading Statistics add-on works?
The addon starts one separate window per instrument where it is activated and it contains 2 sets of data:
Global: displays the accumulated data of all positions and other information such as Pnl, % of wins/losses and quantity of orders filled/cancelled.
Position data: displays position specific data and it starts collecting at the position start time.
Once a position starts the addon will update the Global values and will create a new line at the bottom table, while the position is open the values will update:
Learn more about the Trading Statistics add-on here.