The Trade order form allows you to focus in-depth on one trade and analyze/customize it. This is very helpful if you want to customize a trade from the scanner or test a trade you have manually.
After you finish analyzing the trade, you can:
- Add the trade to the trade log (see knowledgebase article)
- Send the trade to your broker (see the Send Trade to Broker article)
Here are some of the use-cases you can use the Trade order form for:
- Track the trade in the Trade log: Adding a trade to the trade log allows you to track it and see how it develops over time. Also, after adding trades over time, you can improve your trading system.
- Customize a trade from the scanner: Our scanner picks specific options for your trades. Sometimes you want to change them or see the tradeoffs between different options. You can do that in the trade order form.
- Analyze a trade manually: You can test a trade you have manually and see the PL profile, breakeven points on a chart, statistics, and more.
- Analyze a trade in-depth: The trade order form is interactive and instant so that you can test different ideas quickly. Every time you make a change, you see all the information updated, and you can check the PL profile, breakeven points, statistics, and more.
How to get to the Trade order form
In the scanner: Click on the result you want to analyze in the table, and from the details tab, click the 'trade' button.
Manually: Go to the 'trade log' tab and click 'new trade.'
Trade order form Sections
- Strategy + ticker - Here, you can pick the strategy and the ticker to analyze (at the moment, we only support strategies here)
- Definitions - Here, you can see information about what inputs the system expects.
- Option picker - In this section, you pick the options by changing the strike + expiration date. You can also customize the prices for each leg.
- Stats - This is a quick overview of the trade.
- Stock chart - You can see the stock's historical performance and the breakeven points for the trade. (very useful)
- PL Chart - You can see the Profit/loss profile for the trade assuming different stock prices. The Yellow line is profit/loss at expiration, and the green line is for tomorrow (using the B&S model)
- Trade log - Overview
- Details page - knowledge base
- Send trade to broker - Knowledge base
- Getting started section