How to Keep Track of Your Trades with Forex Factory Trade Explorer
How you wondered how you can keep track of your trades so that you can analyze your trade performance or strategy? While there are many websites like MyFxBook and FXBlue that can do it for you, we recently discovered another reputable website that can do it quite well in detail for you as well. And we have gone ahead to have our Profit By Friday portfolio verified by ForexFactory.com.
Of course, if you are a retail trader, the Forex Factory Trade Explorer is awesome because you get to see in detail you trade history with all the necessary statistics so that you know how your strategy is doing. For us, as trade signal provider, we look at the Forex Factory Trade Navigator as a 3rd party verification tool to show our potential subscribers that our Profit By Friday strategy works and works really well.
To start keeping track of your trades with Forex Factory Trade Explorer, you will first need to open an account with Forex Factory. Now… ForexFactory is a large site. It has all sorts of good information that might help you in your trading journey. Today, we are going to focus on the Forex Factory Trade Navigator feature only.
You first have to join Forex Factory as a member.
Once you have created your Forex Factory Free membership, click on Trade Explorer and you will be brought to this screen below. You will need to select your Broker. For example, we use XM Broker (by the way you get $30 no deposit bonus by just joining XM Broker) so we just select XM Broker as our broker. You will need your Investor Password to connect. The rest are self explanatory and we will not go into more details on this.
Once your MT4 is connected to Forex Factory Trade Explorer… watch the magic happens. Let’s use our Profit By Friday account as an example. Below you can immediately have an overview of your Forex portfolio. You can see in this example, our trade history. Return on investment for this portfolio.
And you when click on “Return By Trade,” on the left of the screen, you will be taken to chart that shows you your equity growth. You can also see our Profit By Friday portfolio equity here.
You can also analyse your portfolio profit broken down into days. You can view our example here.
And if you are doing a good job in your trading, you will see a growth in your equity like this chart below. The chart below is our Profit By Friday portfolio as example. You can view it here on Forex Factory.
The Forex Factory Trade Explorer is a wonderful tool to track your performance as a trader. For us as a Signal Provider, it’s a wonderful Forex tool for us to show our subscribers our real account performance. We recommend that you connect your MT4 account to Forex Factory Trade Explorer so that you can analyse your strategy faster and easier.
Side note: Profit By Friday is still open to accept new subscribers. We will trade for you and you don’t even need to place any trade on your own. Joining Profit By Friday means that you are hiring us to trade for you. Click here to learn more on Profit By Friday.
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