At GetGo HQ, we work tirelessly behind the scenes to develop exciting new features for the app. And here it is, the latest update we’ve recently unveiled - drumroll please 🥁...
It’s called Trade Mapping and provides GetGo users with a clever way to analyse previous trades, which we hope will help you improve your performance.
You’ll find a Trade Map for each closed trade under the Overview tab in the Your Performance section.
Simply tap on a closed trade to expand this feature and see a price chart showing the trade’s lifecycle in full.
The main three price points of your trade are on the vertical axis, they are conveniently labelled for you and easily recognisable 🔎📐 - a dotted horizontal line, which represents the market price where your trade was at break-even point, a solid line showing your Max Loss and another solid line showing your Profit Target (if you set one). The signal time window ⏱ is shown along the bottom of the chart.
The small vertical bars display the price movement of the market you’ve traded during the entire signal time window - the red and green bars are your Trade Map, i.e. when your trade was live! Each bar represents a 2 minute period and the top and bottom of the bar represent how high or low the market went during that time. Where the bars are red your trade was in a loss, and where green your trade was in profit!
At this point, you might have guessed what the grey bars are🤨. Those before the coloured ones show how the market moved before your trade went live, while those after the green or red ones represent how the market moved after your trade closed.
READ GETGO TRADE MAPS LIKE A PRO: For an UP trade, the coloured bars will be green above the dotted break-even line, and red below it, that is the trade goes into profit if the price moves above break-even level (UP). On the other hand, for a DOWN trade the reverse will be true and the bars will be green below the break-even line (DOWN) and red above it.
You can find other useful information about each trade below the trade maps. Including, and perhaps most importantly, the highest profit level the trade actually reached, representing the max you could have made (HIGH), and the worst loss level during the trade, which is the max loss you could have incurred (LOW).
Why is all this so useful?
Over 90% of all GetGo signals go into profit at some point during their lifecycle but, depending on how and when you close your trades, you may not always be capturing as much of this profit as possible. Using the Trade Mapping new feature, you can now go back and analyse your trades to see exactly when closing them would have made you the most money, or how you could have avoided a loss. If you do find that you’ve been consistently missing out on extra profit, you may want to consider changing your trade management style. Check out our recent blog post, The Benefits of Active Trade Management, to find out more about how you can do this.