In the realm of stock trading, every decision, every trade, and every strategy tells a story. But are these stories being captured effectively?
As seasoned traders, we often struggle to keep a tab on evolving strategies and market trends. Remembering the why and how of each trade, and assessing performance over time can be overwhelming. Such scenarios resonate widely in the trading community. This is where ‘Fyers Journal’ steps in, turning a new page in the world of trading.
A Closer Look at Fyers Journal
Before launching it, we at FYERS conducted extensive research to understand how we could help traders improve their trading. After consulting with industry experts who have mastered the trading game, one thing became clear: the most successful traders diligently track their historical P&L, maintained trade diaries, recorded both their successes and failures, and learn from their experiences. With this valuable insight, we set out to create the ultimate digital trading diary for our traders.
Enter Fyers Journal📅
Think of Fyers Journal as your personal digital diary, where you can document all your trades, learn from your mistakes, record successful strategies, and much more. Without further ado, let's explore everything Fyers Journal has to offer to enhance our trading skills and make us better traders!
Sneak Peek Into the Key Features With Real-life Applications:
At the heart of Fyers Journal is an innovative color code logic, transforming your trading data into a vibrant visual story. We use four shades of green to represent your profitability. Darker green indicates higher profits, while red represents losses, with darker shades indicating larger losses.
Year View: Annual Trading Highlights at a Glance
The calendar view provides an overview of your trading days, giving you a snapshot of your daily P&L throughout the year. Here's a snapshot of how "Year View" appears on Fyers Journal:
" Calendar view showcasing profitable & unprofitable days with colour coded gradients"
Example: For instance, Rahul can have a quick glance at the list of profitable/unprofitable days over the year and draw an insight about the overall trading performance. This can help him understand which trading strategy has worked well and which has not.
Month View: Monthly Trading Insights at a Glance
Next to the year view, you can click on the month view as highlighted in the screenshot below. With that, you can zoom into your monthly performance with the same intuitive color-coded system.
"A quick glance at how profitable/unprofitable days appear in the month view"
Example: Rahul, for instance, can turn to month view to analyze his trading activity for a specific month. This immediate visual feedback allows him to identify which days and strategies yielded the best results.
List View: The Nitty-Gritty of Your Trades
Right next to the month view is the list view. This view arranges trades with dates, summaries, and detailed notes, complemented by the versatile 'Add Note' feature. Let's take a look at the List View functionality here:
"The above snapshot indicates the list view layout explaining each section."
Example: Rahul reviews his August 14th banking sector trade, where his notes, added via the appropriate filter, reflect his strategic decision-making process.
So, to sum it up, you may access the calendar/monthly view to gain insights into a breakup of your profitable/unprofitable days and you may head over to list view to gain a deeper understanding as to why the trades were taken by accessing your own notes documented on that specific day.
Purple Highlights: Tracking Unexecuted/Rejected Trades.
You may also notice purple on your calendar. This color indicates days when you placed orders that went unexecuted/rejected due to the price not reaching your specified levels. Check out the snapshot below for a quick insight:
"The above snapshot indicates unrealised P&L/rejected orders."
Example: Rahul placed an order for a stock at his desired price, but the market didn't hit that mark. On his Fyers Journal calendar, these days are marked in purple for his future reference. To learn more about a specific day, simply hover your mouse over it, and the relevant data will appear. Check out the GIF below for a better understanding:
"The above GIF indicates the intricate details of trades taken."
Add Note Feature: Personalize Your Trading Tales
Customization: The 'Add Note' functionality in the Fyers Journal allows users to enhance each entry with titles, tags, descriptions, and emoticons, linking them to specific trades. To take notes for a particular day, head to the notes section as shown in the GIF below and record your thoughts on why you took certain trades. You can also upload up to three JPEG/JPG/PDF files.
"The GIF indicates the process of adding notes and images."
If you want to associate a note with a specific trade taken on that day, use the tagging feature. Get a better idea with a GIF below:
"The above GIF indicates how you can tag notes."
If you prefer to make a general note for the entire day without tagging specific trades, you can skip the tagging process and click on Submit.
Key Benefits of FYERS Journal
Take a look at the key benefits of the Fyers journal for your trading success.
Accessing Fyers Journal:
Embarking on a well-documented trading journey is made easy with the Fyers Journal. Just log in to fyers.in to get started. Here's the GIF on how to access the Fyers Journal:
For a detailed walkthrough, check out our support portal.
Conclusion
Fyers Journal is more than a tool; it's a companion in the complex world of stock trading. It's where trading performance converges with color-coded insights, and every trade becomes a story worth telling. Ready to transform your trading narrative? Open an account with FYERS and step into a world of informed insightful trading. And if this tool enhances your trading journey, don't forget to share the joy by referring your friends and family here. At FYERS, with the launch of Journal, we are one step closer to our core mission: to get your trading, #TradingSimplified.