How To Create Valuable Descriptions For Your Trading Data

PCs are unlike humans. Your PC is totally fine with Bits and Bytes and you can feed it for hours with that kind of data. And it will not quit. But for us humans it needs to be more meaningful than that. That is where descriptions are useful.

How to create valuable descriptions for your trading data-CD-Cover

Such descriptions help us to avoid confusion and to see the whole picture.

 

For example, in real life one would give somebody hints like “turn right at the red church after the second traffic light”.

 

If other people would give me only the degree of longitude and latitude instead, I would be pretty helpless.

 

A description is regulary some text and it might also contain data. Let’s have a look at the example we discussed in the episode about the Comment function. If you have missed that part, you can go straight to TradingTutorialAutomation.com and repeat it.

 

We have used the following function:

 

Comment (AccountBalance());

 

The result was a number that showed up in the upper left corner right on your chart. We will enhance that number with a text in quotation marks that we want to show up in front of it. We seperate both with a comma.

 

Comment (“Die aktuelle AccountBalance() ist “,AccountBalance());

 

That kind of text is called a string. If we want to add some additional information, like the equity for example it would be nice if we could see that in a seperate line. That would be better to read.

 

To get that new line we can also use a string. The backslash on your keyboard followed by the letter N means “New line”.

 

With it we can now make the lines for Account Balance() and AccountEquity() show up one below the other.

 

Comment (“My AccountBalance is ”,AccountBalance(), “\n”, “My Equity is“,AccountEquity());

 

You will find the exact syntax in the show notes for this episode on TradingTutorialAutomation.com.

 

Oh, one more thing,

there are situations when you might want to analyze that data afterwards, for example to check what happened over night. The Metatrader 4 terminal has a tab called journal for that.

 

If you exchange the Comment() function with the Print() function your trading data will be stored in that trading journal and you can analyze everything later.

 

Okay, if you have consumed the last three episodes, you can now print out your important trading data like AccountProfit(), AccountBalance(), AccountStopoutLevel() and other useful information directly on your chart. Or you can store that trading data in your automated trading journal and analyze it later.

 

It doesn’t matter if you trade manually or automated, this kind of information is extemly valuable for every trader, dont you think so?