Useful portfolio management tools are not easy to find, you can
use my stock trading software for free if you want.
Most stock trading software is not really useful for active
stock trading. Either they are more than you need or they just don't track
the information your require to manage or improve your stock trading success.
If you are anything like me, you have funds that I use for stock
trading in more than one account. Without a useful portfolio management
tool to keep track of what stocks were owned in what account, what the exit
strategy was for each trade, and how successful my stock trading was, I felt
like I was not as effective as I should be.
Because I couldn't find any really useful stock trading software
I decided to create my own. It really easy to use and saves me a ton of
time from the analysis of a trade prior to entry all the way through the trade
closeout. It is
basically a portfolio management spreadsheet with useful stock trading sections that:
-
Performs an analysis of the trade prior to entry
-
Calculates the proper number of shares according to the
exit price or amount of risk you are comfortable with.
-
Tracks the total amount of money invested in each
position
-
Tracks what account owns the stock
-
Tracks my stop criteria and updates
-
Calculates the profit and loss of each closed out trade
on both a days held and annual basis
-
Creates a log of trades with notes on what worked and
what didn't.
After you have downloaded the software, here are the
instructions for use.
First thing to do is to make a backup copy of the spreadsheet
somewhere on your hard drive - just in case.
After you open the portfolio management software make certain
that all the sections are visible by going to View -> Custom Views... -> View
All. Notice from this menu you can view the individual sections by
themselves.
Here are instructions for each of the sections of the portfolio
management software:
Stock Trading Pre-Entry Analysis
-
For every new stock position you want to track in your
portfolio, copy and past the template line (line 3) into the area below
the template.
-
Date - enter the date of the analysis.
-
Stock - enter the symbol of the stock into this column.
-
Buy Price - enter the price at which you would enter the
trade.
-
Stop Price - enter the price at which you would
acknowledge that this trade is not working the way you had anticipated
and that it is time to exit the trade.
-
Max $ Loss - enter the maximum amount of money that you
would be prepared to lose if your trade moves against you.
-
# Stocks - this column calculates the appropriate number
of shares to purchase based on the stop price and your maximum loss
parameters.
-
$ Invested - Calculates the amount of money invested for
each position analysis.
Open Stock Trading Position Management
-
Position Date - enter the date you entered into this
position.
-
Account - enter the account in which you made the
trade.
-
# Shares - enter the number of shares in the position.
-
Buy Price - enter the buy price of the position.
-
$ Total Invested - calculates the total investment as of the
entry date not including commissions.
-
Current Stop - enter the current stop price.
-
Stop Strategy - enter the current stop strategy, for
example, fixed stop loss, trailing stop etc
-
Update Stop To - use this column to track changes in
your stop price or exit strategy.
Closed Position Analysis
-
Date Sold - Enter the date that this position was sold.
-
Days Held - this column will show you the total number
of trading days the position was held. (This function needs the
Analysis tool-pak to be activated. Go to Tools -> Add-Ins..., then
select Analysis Took-Pak, then OK. You may need to re-copy the
cell contents again after you have activated the tool-pak.)
-
# Shares - enter the number of shares sold in this
transaction. If you sell 1/2 of your position simply copy the
transaction to a new line and modify the number of shares.
-
Price - Enter the selling price.
-
$ Realized - calculated funds realized from the selling
of this position.
-
$ Profit - calculates the total profit or (loss) from
this trade
-
% Profit - calculates the percent profit or (loss) from
this trade.
-
Annualized Profit - calculates the annualized profit as
if the position had been held at the same profit % for a complete year.
This field is extremely useful for comparing trades and strategy
success.
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