Trading App Development - the Journey of the Journal
The journey has begun!
No decent trading app is without a trade journal... right?
Unfortunately this seems to be the exception and not the rule, as far I have seen so far. Granted I haven't seen every trading app out there, I might be wrong. If so, please leave a comment below with a link so I can follow it up and do some research.
Part of my motivation for building this app, is to have a better overview of what I am doing and not doing when trading. All of the professional traders I've followed have consistently espoused the utility, if not necessity of keeping a trade journal.
Yes, there are services and spreadsheets out there which do the job. Either you have to manually enter the data with each trade, or give someone else (app / service owner) access to your trade history. None of this appeals to me.
Looking at the trading apps offered by some of the exchanges, there are no journals. Some are only starting to offer trading bots, because of the rise of trading platforms.
What does that tell you?
Everybody wants your data.
Of course the exchange has all of your trade information, but handing it over to a third party leaves me distrustful. How easy would it be for a large trading platform to play against their users?
As easy as Robin Hood.
This is just the beginning of the journal feature of the app and has a long way to go. As you can see it is currently missing profit loss tracking and many other things.
With other journal apps, I've seen that you have manually add chart images to the journal.
Why?
This is software running on a computer. Have data, will process. So, if the app has the trade date and time, exchange, market and token pair, then the app should be able to look up the historic data and display it. Better still, the chart is interactive, meaning you can add drawings and notes to it.
I'm really itchy to have this working.
If you have any suggestions as to features you think should be in a trade journal, please leave a comment below.
Posted Using LeoFinance Beta