Trade Central is your one stop destination if you're aspiring to be a trader or already a professional trader in stocks, commodities or currencies market. Trade Central journals system (https://www.tradecentral.in/) can help you immensely in getting better at trading and you can use this community to ask questions about journals system or trading in journal. You can also share your experiences by responding to questions that interest you.
We started Trade Central with an objective of educating and helping new traders learn how to trade safely and profitably. You can ask any question related to trading, technical analysis, fundamental analysis, price action, trading strategies or anything else related to the subject.
IMPORTANT - Please note this platform is not meant to give recommendations for buying or selling stocks and we request the users also to avoid posting trade ecommendations. However, feel free to share your analysis, charts or any other information which could be useful for other traders to learn from.
Written Nov 24, 2020
That's a good question and to be honest I too was confused when I was developing it. Let me try to walk you through the process I had in my mind.
As you rightly pointed out, there is a global capital field under settings. This is supposed to be your total capital across all your asset classes, e.g. stocks, forex, commodities et al. Let's say this capital is 10L INR.
Now, you can create various portfolios for asset classes (e.g. Forex, Stocks), trade types (e.g. intraday, swing, positional) or a mix of both (e.g. Intraday Forex, Stocks Swing) and assign a capital you want to use for each of these portfolios. Let's say you want to use 2L capital for intraday stock trades and 3L for intraday forex trading and the rest for positional or swing stock trades. Ideally the total of all your portfolios capital should be same as the global capital, though there is no strict check in the system for that.
Having said that, you don't need to create that many portfolios. In fact, not many traders would actively trade all of these. If you are just doing intraday trading then you can set the capital of your intraday portfolio to be same as global capital setting.
Reason for having a global capital and individual portfolio capital is to help you analyse the trades and individual portfolio performance better. This way you can filter the portfolios and track your equity separately for each portfolio and also get a global view of how your total capital deployed is performing across portfolios.
Hope this makes sense.Written Jan 25, 2021
Tags is a very interesting feature and can be very useful in identifying specific problems or good things about the trades that you execute. You can create multiple tags categorised by type, i.e. mistakes, positives or others. As an example, here are some of the tags I personally use.
When you add trade analysis during completion of trade or later, you can also associate appropriate tags with the trade. These tags will help you identify which mistakes you are repeating more and similarly what positive things you do often. These can be very powerful in fine tuning your trading style and make you a better trader.
We have just added a tag analysis section to help you identify often occuring mistakes and positives.Written Jan 25, 2021
Yes, we do support Forex and Cryptocurrencies. There are no features or limitations specific to stock, forex, commodoties or cryptocurrencies. If you can trade them, you can use Trade Central for rcording your trades without any issues.
However we do not support options and spreads at this time.Written Jan 27, 2021
As of now, we do not support options but we are working on the same. We plan to add basic support for Options (individual buy/sell orders) followed by support for spreads.
As a workaround, you can still use Trade Central to journal your option trades by including underlying, strike and type (PE/CE) in the security field, e.g. BANKNIFTY MAR 36000 CE.Written Mar 01, 2021