Explanations
TradeNote vs Other Trading Journals
TradeNote was build from a personal need for data security, privacy but also simplicity. As such, since the beginning, my intention was never to create a clone of existing trading journals but rather focus on the basic most important features of a trading journal. I regualry receive requests for a specific indicator or report capability but I only make these evolutions if they are aligned with the above mentioned primary objective. For the rest, as you have control and manage your database, you can query and create custom indicators specific to your needs.
Database Choice
Why MongoDB ?
This project relies on Parse as its backend framework, for the following reasons:
- Manage the authentication (flow)
- Parse is a great framework for all API communications with the mongo database
- Parse acts as the server so that TradeNote does not need to run any server on its own, making it faster and lighter.
Parse works (best) with MongoDB and as a developer I also like working with it because it doesn't require a fixed database structure to start coding.
Will you Support MYSQL ?
I often get the question why not MYSQL and/or if TradeNote will support MYSQL as datbase. I started with MongoDB for the above mentioned reasons but as the project stabilizes I see interesting reasons why it could be moved to MYSQL (better API, less issues during installation / better compatibility, etc.). Thus, maybe someday I will use MYSQL but this would be a big code rewrite so I neeed to find the time for it.
Ratios
APPT
I have chosen to use APPT and APPTS exensively as performance mettric. The following article was the cornerstone of my decision and clearly explains the advantages of using APPT : https://www.investopedia.com/articles/forex/07/profit_loss.asp
Why Is R:R Missing ?
I personnaly use R:R extensively but I’m not very fond of adding the RR ratio to TradeNote because of the complexity. Indeed, in order to have the R:R, you would need to enter enter your SL manually and more importantly remember (usually the next day on import) where your SL was for that given trade. I personnaly have a fixed SL depending on the symbol I trade and I was thinking of adding this as an option. But again, I think its quick complicated in terms of UI. I personnaly solve this by exporting my data and making my own calculations whenever needed.
For these reasons I decided to use P/L Ratio wich is "easier" to calculate, based on what happens, and base on your average loss per share, which in the long term is more or less equal to your theoriteical stop loss and gives a good approximation of your R:R.
Analytics
This projects uses PostHog as its product analytics suite to collect anonymous analytics about TradeNote installations and page views. This helps me better understand if and how people are using TradeNote and evaluate the outreach of my project. If you want to opt-out of this program, you can simply add -e ANALYTICS_OFF=true when running the docker image.