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anyone ever try this software out?

TraderDNA

 

Brett Steenbarger mentioned it in his CBOT webinar. It looks quite interesting, metrics to keep track of what your doing as far as trading.

 

If no one has used it i'm going to give them a call this week and see about the price. looks like a great tool, especially for a newbie like myself.

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It looks quite interesting, metrics to keep track of what your doing as far as trading.

 

Just looked into it further here:

 

TraderDNA

 

Seems to somehow have "hooks" into your trading software to analyze your P/L, and such.

 

Let us know what you find out on your trial.

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Hello everyone,

 

I'm a Director at TraderDNA LLC and co-creator of our trade analyzer. In response to this recent thread and the curiosity about TraderDNA, I'll post here and provide some basic information about what our stuff does. We are in the process of developing a new web site and so there is limited information there.

 

The idea behind TraderDNA is to look back analytically at a designated period of trading , whether it is the last week, the last month or the last 6 months, with the intention of discovering when and under which circumstances you trade best, and when you trade worst. The ultimate goal is identifying when, where, under which circumstances, and what causes your negative P/L (losses) so that you can get to know your performance better and hopefully proactively avoid losses or situations that have historically been losses in the past. Our philosophy hinges upon pure statistics. Our analysis seeks to show the trader what statistically happens (with respect to his own trading) in various circumstances. At what times of the day, in whcih market, which side of the market, which day of week, which trade size, do you trade best, take the most risk, have the most consecutive losers, fail to capture unrealized profit (leave money on the table), trade most frequently, add additional size to winners/losers, etc...

 

What EXACTLY is the difference between winning and losing trades? What is different about winning and losing DAYS? What exactly causes a losing day for you? What has statistically happened after a large losing/winning day? When you get off to a poor start on the day? A good start on the day?

 

In short, traders that use our analysis know themselves (as traders) extremely well. That is the intention. This post is quite long now and rather than go on and on I'd refer anyone wanting to learn more to my blog which discusses some of the analysis and I will continue to post to the blog.

 

Performance Enhancement for Electronic Traders

 

Hopefully this helps, and I'm happy to answer any questions or speak to anyone in more depth via private message.

 

Thanks,

 

David

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OK. Fair enough. Since you've joined us here, how about answering some basic questions and issues noted above.

 

A. How does your software "hook" into my trading software to get accurate P/L? How does it "know" what actions I'm taking and have taken when I took them?

 

B. There are clear privacy implications to the breadth and scope of your product. What assurances are there that my proprietary and confidential information wouldn't make it into the "wrong" hands?

 

C. Thirdly, and lastly.... What is the cost? Is there a free trial? Have you at least ask talked to James, who runs this site, about advertising it here? Do you have a discount available for site users.

 

Thanks for your responses.

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Sure, thanks for your questions. A moderator recently got in touch with me about TraderDNA and that's why I posted here. I haven't spoken to anyone on this site about advertisement and I must be carefull in what I discuss publicly here because my intention is'nt to promote, advertise, or sell our product, but rather to edutate those interested about what we do because the information currently available to the public is ambiguous and limited.

 

A. How does your software "hook" into my trading software to get accurate P/L? How does it "know" what actions I'm taking and have taken when I took them?

 

We don't "hook" into any trading software. Our users provide us with the data we require, and that comes either from the front-end provider, the firm's data processing, or directly from the trading software. Data elements such as price, market, quantity, timestamps, etc... are loaded into our program via files created by the export facility in the user's trading software. Most softwares have this functionality.

 

In terms of how we know what actions you are taking, our architecture takes into account your data AND the data from the market you trade. I'd be happy to explain this to you in more detail privately. The result is that we can measure various things other than primitive measures like P/L and quantity (risk taken, profit opportunity, lost opportunity, times in and out of the market and between diffferent types of trades, number of times you added to losing trades/winning trades, quantity added to losing trades/winning trades, etc...)

 

B. There are clear privacy implications to the breadth and scope of your product. What assurances are there that my proprietary and confidential information wouldn't make it into the "wrong" hands?

 

I'm not sure what you mean by the "wrong" hands, so I'll address what I think you mean. In terms of the data being hacked into, our data is resident on our internal servers located on-site in Chicago and is not accessible via the web or to anyone other than ourselves.

 

Your execution information is property of your clearing firm, you must trust them that they will not take the information and reverse-engineer your trading system or method, and go trade it themselves. This trust also exists in all of our partnerships, and is at the core of our business relationships with particularly larger entities whose strategies could be jeopardized should such information become public. Good question.

 

C. Thirdly, and lastly.... What is the cost? Is there a free trial? Have you at least ask talked to James, who runs this site, about advertising it here? Do you have a discount available for site users.

 

I have not talked to James about advertising here, but there seems to be lots of interest, so maybe in the future. I'd prefer to discuss all cost-related issues either via PM or by email, as I must be careful what I post publicly here.

 

Thanks for your responses.

 

 

Thank you

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haha what????

this board is total madness learning wise, what is going on here??

 

David, i'm sold on your product as a newb trader, the bottom line is all that matters though. One time fee would be great, monthly fee has to be quite economic.

 

James, you already got 20 bucks a month from me if you want to charge for this board. this place is insane.

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haha what????

this board is total madness learning wise, what is going on here??

 

David, i'm sold on your product as a newb trader, the bottom line is all that matters though. One time fee would be great, monthly fee has to be quite economic.

 

James, you already got 20 bucks a month from me if you want to charge for this board. this place is insane.

 

Thanks darth :) We have a premium member subscription available if you are interested. I am currently using all funds back into the site so you will be supporting the development of our site.

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A quick question here: how is it different from what's already offered by TS performance report? I'm aware of the best hours sorting, but are there additional useful stats that don't exist in TS?

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James, can you give us some hint what you plan to have going on with traderdna with the toolbar heading?

Will that be linked to the blog section somehow? that would be perfection.

 

nate

 

A quick question here: how is it different from what's already offered by TS performance report? I'm aware of the best hours sorting, but are there additional useful stats that don't exist in TS?

 

Hey guys,

 

I personally havent used TraderDNA yet so would not know exactly. But what it is supposed to do is break your trading down into pieces. TS reports is good imo but TraderDNA offers more than that. It analyzes which time periods you are good in, etc.. and autolinks your brokerage trades to the portal.

 

Im planning on integrating the portal shortly so perhaps I can get them to offer a test run for those who are interested.

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