Tracking relevant trading metrics
Whether you are beginner or a professional, successful or struggling to make profit, there are certain metrics which are relevant for measuring how well you perform as a trader. In My Portfolio view, you will immediately see metrics such as your overall profit, average gain in both dollar and percentage and your winning trades in percent.
These are the most basic metrics but at the same time the most useful to look at. There is no “right numbers” since different strategies tend to show different result depending on the person on trading style. For someone just getting started it´s good to know that a combination of an average gain over 0 and over 50% winning trades is profitable.
Track profit over time
While these trading metrics are good to look at to measure your performance, it´s really profit over which counts. Kinfo tracks profit based on closed out trades, if you buy 1 share of AAPL and sell it 2 days later, the trade will close out and the trade is calculated as the difference between the buy and the sell price.
If you buy into a position multiple times, the trade will close out when the last share is sold.
Each time you close out a trade it will add to your profit (or loss) and over time this becomes a chart which shows if your are consistently profitable over a longer period of time.
Analyze individual trades
The best traders don´t spend all time analyzing the market, they put as much energy into analyzing themselves, learning what they are good at, what contributes to their losses and why. In this exercise two things are important, you need to have the right mindset and self esteem, but you also need access to tools to easy overlook and analyze individual trades.
Simple & Easy to Use
We dumped a lot of the noise surrounding investment and focused on what traders really want to know- WHAT ARE BETTER TRADERS DOING?
By simplifying, we focused on what is missing in typical trading apps- collective wisdom. We also avoided adding news-feeds, technical indicators, etc. that you likely already have access to with other tools.