Setting Up Your First Strategy

This guide walks you through creating your first trading strategy in CandleLog, from account setup to logging your first trade. By the end, you'll have a complete strategy with rules and understand how to track your performance.

Prerequisites

• CandleLog account created
• Basic understanding of your trading approach
• At least one trade to log (or planned trade)

Step 1: Create a Trading Account

Before logging trades, create a trading account to organize your data.

Navigate to Settings

1. Click "Settings" in the navigation
2. Find the "Trading Accounts" section
3. Click "Add Account"

Enter Account Details

Save Account

Click "Create Account" to save. This account is now available for logging trades.

Step 2: Create Your Strategy

Now let's build your trading strategy.

Navigate to Strategies

1. Click "Strategies" in the navigation
2. Click "Create Strategy"

Option A: Start from Template

If you're using a known methodology:

1. Click "Example Templates" instead
2. Browse templates (ICT, Day Trading, Swing, etc.)
3. Click a template to preview
4. Click "Import Strategy"
5. The strategy is created with all rules
6. Skip to Step 3 for customization

Option B: Build from Scratch

If you have your own system:

1. Enter a strategy name (e.g., "Morning Gap Setup")
2. Add a description of when you use this strategy
3. Choose an icon (optional)
4. Pick a color (optional)
5. Click "Create"

Step 3: Add Strategy Rules

With your strategy created, add specific rules.

Open Strategy Rules

1. Click on your strategy to open it
2. Click the "Rules" tab
3. You'll see three sections: Entry, Exit, Market Criteria

Add Market Criteria

These define overall conditions for trading. Click "Add Market Rule".

Example rules:

• "Trading during first 2 hours of session"
• "VIX below 25"
• "No major news scheduled"

For each rule:

1. Enter a clear name
2. Add detailed description
3. Mark as Required if mandatory
4. Set outcome (usually ALWAYS for market criteria)
5. Click "Create Rule"

Add Entry Criteria

These are your trade triggers. Click "Add Entry Rule".

Example rules:

• "Gap greater than 0.5%"
• "Price holding above VWAP"
• "Volume above 50-day average"

For each rule:

1. Enter specific trigger condition
2. Describe what you're looking for
3. Mark required rules appropriately
4. Set outcome type
5. Click "Create Rule"

Add Exit Criteria

These manage position and risk. Click "Add Exit Rule".

Example rules:

• "Stop loss at low of first 5-minute candle"
• "Target 1 at 1:1 risk-reward"
• "Trail stop below each higher low"

For each rule:

1. Enter exit condition
2. Describe specific levels/conditions
3. Mark required rules
4. Set outcome type
5. Click "Create Rule"

Review Your Rules

You should now have:

• 2-4 Market Criteria
• 3-5 Entry Criteria
• 3-5 Exit Criteria

Start simple and add more rules as you trade the strategy.

Step 4: Log Your First Trade

Now let's log a trade and assign it to your strategy.

Navigate to Trades

1. Click "Trades" in the navigation
2. Click "Add Trade"

Enter Trade Details

Required fields:

• Symbol: The instrument you traded
• Direction: LONG or SHORT
• Entry Price: Your entry
• Quantity: Contracts/shares
• Entry Time: When you entered
• Account: Select your trading account

Optional but recommended:

• Exit Price: If trade is closed
• Exit Time: When you exited
• Stop Loss: Your planned stop
• Take Profit: Your planned target
• Notes: Your observations

Save Trade

Click "Save" to log the trade.

Step 5: Assign Trade to Strategy

Link your trade to your strategy to track rule compliance.

Open Trade Detail

1. Click on the trade you just logged
2. Find the "Strategy Assignment" section
3. Click "Assign Strategy"

Select Strategy and Rules

1. Choose your strategy from the dropdown
2. You'll see all strategy rules listed
3. Check the rules you followed on this trade
4. Add notes about compliance (optional)
5. Click "Save Assignment"

What Gets Tracked

CandleLog now records:

• Which rules you followed
• Compliance percentage
• Link between trade and strategy

Step 6: Review Strategy Performance

With at least one trade assigned, check your strategy performance.

Open Strategy Summary

1. Navigate to Strategies
2. Click your strategy
3. Click the "Summary" tab

View Metrics

You'll see (some need more trades for accuracy):

• Net P&L
• Number of Trades
• Win Rate
• Profit Factor
• Rules Followed Rate

Understand Initial Data

With one trade:

• Metrics are preliminary
• Need 20-30+ trades for significance
• Focus on building the habit

Step 7: Continue Trading

Build your journal over time:

Daily Workflow

1. Execute trades following your rules
2. Log trades at end of day
3. Assign to strategy
4. Mark rule compliance

Weekly Review

1. Check strategy performance
2. Review rule compliance patterns
3. Identify improvement areas
4. Update rules if needed

Tips for Success

Start Simple

• Begin with 5-10 rules total
• Add complexity as you learn
• Don't overwhelm yourself

Be Specific

• Vague rules can't be tracked
• "Price must close above VWAP" not "bullish market"

Log Everything

• Even small trades matter
• Losers are learning opportunities
• Consistency builds better data

Use Notes

• Document your thinking
• Record what you saw
• Note emotional state

Review Regularly

• Weekly minimum
• Monthly deep dives
• Compare trends over time

What's Next?

Explore Templates

Browse Strategy Templates for inspiration and proven setups.

Import Historical Trades

If you have broker CSV exports, import them to build history faster.

Track Missed Trades

Start logging missed opportunities to improve execution.

Review Analytics

Dive deeper into Performance Analytics as you collect more data.

Summary

You've now:

1. Created a trading account
2. Built a strategy with rules
3. Logged your first trade
4. Assigned it to your strategy
5. Viewed performance metrics

Keep logging trades, reviewing performance, and refining your strategy. Consistent journaling leads to consistent improvement.