MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Methodologies » Tools of the Trade

[wdemilly]

I use an interesting piece of free software which helps me analyze and track my Oanda trades.

I don't know the developer, nor do I know his plans, but if you are interested, the site is here:

FXHat

setting up is a bit complicated. you have to install SQL Server Express (from microsoft) as well as Net 2.0 framework. but once installed it becomes easy to keep track of your trades and analyze them.

[new24x]

I trade with Oanda, How does it help?
Does it make recomdations?
Is it a EA?
Sounds complicated enough that I would want an idea of how I'll use it before I go to the trouble.

[wdemilly]

Hi New,

No, this program doesn't have anything to do with signals or indicators for trading. Its only used AFTER trading. It provides you with a "clean" trade list of each trade, along with some statistics which might help you see where you're doing well... and not so well!

(On Oanda, I only use three indicators: a 200 period weighted moving average, Bollinger Bands, and candlesticks.)

[jene]

FXHat is a means to gain an insight with Oanda FX trading history, with this lot of information’s are available including return on account, PIP results per currency pair, maximum drawdown, slippage per transaction, are just a few to name. Definitely time and patience are a necessity for mastering this tool, to make the most out of this platform.

[wdemilly]

Yes I think in some ways it can help... for example you may discover that you are consistently better with one pair or another. You will see your average trade P/L in pips as well. When you trade a great deal it helps you understand the value of getting one more pip out of a trade! Over the course of a thousand trades, a thousand pips could make the difference between an account's profit or loss.

[kenny1703]

okie! thanks!

[raytt]

i use oanda, thanks

1, Made in Korea2, Made of polyester3, 100% embroidery4, Comes with 2 tags and holograph5, Delivery in 4-5 days

[MikeFile]

Originally Posted by wdemilly

I use an interesting piece of free software which helps me analyze and track my Oanda trades.

I don't know the developer, nor do I know his plans, but if you are interested, the site is here:

FXHat

setting up is a bit complicated. you have to install SQL Server Express (from microsoft) as well as Net 2.0 framework. but once installed it becomes easy to keep track of your trades and analyze them.

Looks like it does not work...link is broken?

[Daniele]

Yeah...it does not work!