Leveraging the Holding Time analysis for your trading
Edgewonk provides detailed statistics about your holding time – how long your trades are open from the time you enter the trade until you close it. You can find the holding time tool under Trade Management >> Holding Time.
However, to get the most out of your Edgewonk journal, here are a few tips and things to look for. We compiled 4 tips and ideas how to use the holding time function in your Edgewonk journal to dissect your trading performance.
1. Difference between winners and losers
This is the starting point for all holding time analysis – and for most other performance analyses too. First, use the filter for Winners/Losers and see if you can see obvious differnces between your trades. It’s a well known that many struggling traders hold losing trades too long and cut profits too early.
2. R-Multiple vs monetary impacts
Now, you should use the button and switch between R-Multiple and monetary visualization and see if you can find obvious differences and outliers. Just looking at R-Multiple alone often does not tell the whole story and many traders handle trades differently when they use a larger position size.
3. Comments and errors
The filters in your journal are tailored around your weaknesses and common behavior. Thus, using the filters for entry, exit and trade management comments to analyze different types of trades can reveal patterns in your trading and behavior. We have seen very often that traders can find very specific performance leaks which can then help then turn their trading around.
4. Custom Statistic
The same holds true for the Custom Statistics. Try out different combinations with different comments or think about setting up a new Custom Statistic around some part of your trading that you want to analyze.
Stay creative and play around with different possibilities and options. Edgewonk offers a lot of ways how you can dissect your performance. And if you have found a different way to leverage the holding time analysis, we’d love to hear from you in the comments below.