Product Review: Terra Nova Trade Evaluator by David Penn
Just about any evaluation of
trading performance will
include a look at gains versus
losses, P/L, most and
least profitable trade, percentage
gainers versus percentage losers,
average profit per trade, and so on.
But what about your long positions versus
your shorts? Or whether your largersized
lots (say, between 750 and 1,000)
tend to do better or worse than smaller
lots? Are you doing a better job trading
lower-priced stocks than higher-priced
ones? How does trade duration factor in
— do you do better the less time you
spend in a trade? And speaking of time,
when are most of your daytrades —
early in the trading day? Around noon?
Are they bunched up around the close?
This is just a sample of the sort of
information that Terra Nova traders taking
advantage of Terra Nova’s Trade
Evaluator have at their fingertips. While
it is true that a trader could probably
compile all this information by hand,
Terra Nova’s Trade Evaluator lets traders
spend their after-market hours doing
something far more productive than scribbling
out trade statistics like some medieval
scribe: he or she can be reviewing
old trades and planning new ones.