Trading performance monitoring websites. What’s their purpose?

What is the meaning of success in trading? Some people would say that the key success factor is the breakeven deal, other would tell about the minimum risk level, while some of traders will try to convince you that success depends on the enormous profitability ratio. Each and every FIX API trader wants to accomplish such purposes when creating and developing a trading strategy. As a result all the trading strategies and methods can be divided into aggressive, moderate and conservative ones.

But what do investors have to do in such situation? I’m talking about choosing a trading strategy investment option. How can one choose an asset manager, if some investors want to achieve the maximum return, while others want to save the capital and have the minimum risk level? Here’s another example: how can one connect to a trading signal or buy a trading robot, if they have only description and nothing more? The answer is very simple! One simply can’t.

Nobody buys a car only after reading the user’s manual. It doesn’t work like that. We need to have a test drive and check the car in real driving conditions.

The field of FIX API trading has the very similar situation. One can’t simply make a decision about investments or purchasing of a trading robot by reading only stiff descriptions. One needs to use such tools as the yield curve and other important trading indicators, which can be found on various trading performance monitoring websites, which we are going to discuss below.

I think that some of you have already seen such websites, and understand the main principles of their work. Let’s look at the two of the most popular resources:

    1. MQL – The website of FIX API MT4trading platform developers offers a section that includes various information about trading signals. This page contains a lot of trading systems shown in the form of a signal. One can subscribe to such signals, receiving information about them right to their account. No doubt that the key factor of such system choosing is the possibility to analyze trading activities, and MQL offers a wide range of such tools. One can see the profit ability divided up by month, the drawdown curve, the balance curve, the funds curve, the main trading financial data (the number of winning and losing trades, their correlation, expected values, the Sharpe ratio etc.), as well as the total number of the followers and the capital size of the asset manager. Such information makes it possible to understand the amount of money invested by the FIX API trader themselves in trading operations.
    2. My fxbook – This is another resource that is pretty similar to MQL; however, it doesn’t allow traders to subscribe on the trading of the asset manager, giving only the possibility to analyze the system itself and it results. This website offers almost similar interface for the list of differentials and indicators, but in my opinion it offers much better visualization methods. The majority of companies and professional trades is using this platform to publish their statistics.

      There are several other websites for FIX API trading results monitoring, but each of them offer strictly individual approach. Such resources include PAMM platforms and special websites for trading robot performance monitoring, e.g.

      But what’s their purpose?

      Such resources can be used to get information about real trading results in order to analyze trading activities of the trader in real time. By using such websites, each and every FIX API trader can connect their trading account in order to analyze trading performance. Such resources can also be use to find the best FIX API trader for your estimated trading results. In other words, you can connect your account to such service and monitor the inter-temporal changes of the key indicators. I really recommend doing so, and monitor your trading activity every week. Choose any day of the weekend when all the main markets are closed, and perform thorough analysis of your trading operations. You will be able to see the influence of each of them on the final result of your trading. By doing so you are able to define all the key moments, which affect your trading in positive ways, as well as the negative ones. As a result, you will be able to use it as a reference point of your personal growth.

Leave a Reply

Your email address will not be published. Required fields are marked *