Options – “Trade Input” inquiry
With the TJS, you’ll be able to record and analyze all Options strategies, but because of the complexities of Options trading, it’s important to understand that there are two different methods of trade input that users are asked to choose from… to summarize both methods:
1) Keep all trade (legs) together on one row. This means that no Qty or Prices would be listed – however, after all trade legs have been exited, you would simply enter your summed Gross P&L manually.
- The Tracking sheet will sum this input (as one complete trade) in the Entry Strategy section.
2) Treat all legs as their own individual trades on separate rows in the Trading Log (with Qty and Price entries).
- The Tracking sheet will sum this input (as one complete trade) in the Entry Strategy section, but instead of the trade count being “1” (as in Method One), the trade count will reflect the same amount of legs that were traded for each strategy.
An alternate to #2
would be to have Entry Strategies listed in the Tracking sheet for each type of individual ‘leg’. Then, in the Trading Log, you would use (#2, above); however, you’d tag each trade based on the Strategy that corresponds to the type of ‘leg’ being traded.
Kind regards, and… Prosperous trading to you,
Greg Thurman, at TJS