Missed Trades
One of the most overlooked aspects of trading improvement is tracking the opportunities you didn't take. CandleLog's missed trades feature helps you log setups you identified but didn't execute, understand why you missed them, and calculate the potential P&L left on the table.
Why Track Missed Trades?
Identify Psychological Patterns
Missed trades reveal patterns in your decision-making:
- Hesitation on valid setups
- Fear after a losing streak
- Distraction during key times
- Over-analysis leading to inaction
Quantify the Cost of Inaction
Seeing the potential P&L from missed trades provides:
- Motivation to execute next time
- Context for your actual performance
- Understanding of missed opportunity cost
Improve Future Execution
By reviewing missed trades, you can:
- Build confidence in your setups
- Address specific hesitation triggers
- Develop pre-trade routines
- Reduce analysis paralysis
Logging a Missed Trade
Navigate to Missed Trades
- Open the strategy detail page
- Click the "Missed Trades" tab
- Click "Log Missed Trade"
Required Information
| Field | Description |
|---|---|
| Symbol | The trading instrument |
| Direction | LONG or SHORT |
| Entry Price | Where you would have entered |
| Quantity | Your planned position size |
| Entry Time | When the setup occurred |
Optional Information
| Field | Description |
|---|---|
| Exit Price | Where you would have exited (if known) |
| Exit Time | When you would have exited |
| Reason | Why you missed the trade |
| Notes | Additional observations |
Common Reasons for Missing Trades
Select from common reasons or write your own:
- Hesitation - Saw the setup but didn't pull the trigger
- Busy/Distracted - Away from screens when setup occurred
- Over-analysis - Waited too long looking for more confirmation
- Fear - Recent losses made you cautious
- Technical issues - Platform problems prevented entry
- Not watching - Didn't notice the setup in time
- Waiting for perfect entry - Price moved before entering
- News event - Avoided trading due to scheduled news
Missed Trade Analysis
Potential P&L Calculation
For each missed trade with an exit price, CandleLog calculates:
Potential P&L = Direction x (Exit Price - Entry Price) x QuantityThis shows what you could have made (or lost) if you'd taken the trade.
Summary Statistics
The Missed Trades tab shows:
- Total Missed - Count of logged missed trades
- Potential P&L - Sum of all potential profits/losses
- Most Common Reason - Your frequent cause of missing trades
Aggregate Impact
Understanding your aggregate missed trade data reveals:
| Finding | Implication |
|---|---|
| High potential P&L | Missing profitable opportunities |
| Low potential P&L | Avoiding bad trades (good) |
| Many "Hesitation" misses | Confidence/fear issue |
| Many "Busy" misses | Schedule/routine issue |
Using Missed Trades for Improvement
Weekly Review
During your weekly review:
- Count how many trades you missed
- Calculate total potential P&L
- Identify the dominant reason
- Create action items for improvement
Pattern Recognition
Look for patterns over time:
- Do you miss more trades after losses?
- Are certain times of day worse?
- Do specific setups cause more hesitation?
- Are your missed trades actually winners?
Action Items Based on Patterns
| Pattern | Action |
|---|---|
| Missing trades after losses | Set a "must execute" rule after X valid setups |
| Missing morning setups | Improve pre-market routine |
| Hesitation on larger positions | Scale position size gradually |
| Over-analysis | Set a countdown timer for decisions |
Confidence Building
If your missed trades are consistently profitable:
- Review the setups in detail
- Document what made them valid
- Build conviction that your analysis works
- Commit to executing the next valid setup
Best Practices
Log Immediately
Log missed trades as soon as you realize you missed them. Details fade quickly.
Be Honest
Record the true reason you missed the trade, even if uncomfortable. Honesty drives improvement.
Include Would-Be Losers
Don't only log missed winners. If you missed a setup and it would have lost, log that too. This builds trust in your analysis for both outcomes.
Review Regularly
Schedule time weekly to review missed trades. Look for patterns, not just individual trades.
Set Improvement Goals
Based on your analysis, set specific goals:
- "Execute 3 out of 4 valid setups this week"
- "Eliminate 'hesitation' as a reason for 2 weeks"
- "Be at screens during 10-11 AM window every day"
Example Missed Trade
Symbol: ES Direction: LONG Entry Price: 4,525.00 Exit Price: 4,542.50 Quantity: 2 contracts Entry Time: 10:15 AM EST Exit Time: 10:45 AM EST
Reason: Hesitation - recent losing streak made me cautious
Potential P&L: $1,750 (17.5 points x $50 x 2 contracts)
Notes: This was a textbook ICT Silver Bullet setup. Liquidity sweep, FVG formed, everything aligned with my rules. I saw the setup develop but talked myself out of it because of yesterday's losses. Need to separate past results from current opportunities.
Impact on Performance Metrics
Missed trades affect your Strategy Summary:
- Missed Trades Count - Shown as a separate metric
- % of Opportunities - What portion of total opportunities were missed
This provides context for your actual performance. High missed trade counts with winning potential P&L suggest execution improvement could significantly boost results.
Differentiating from Actual Trades
Missed trades are:
- Separate from your actual trade history
- Not included in P&L calculations
- Shown in a dedicated tab
- For learning purposes only
They represent what could have been, helping you improve future execution without distorting your actual performance record.