Learning what works and what doest with trading tags
Like everything in life, the way to get better at trading is to do more of what works & less of what doesn’t. Most traders don’t track reasons for taking trades & their track record since it has to be done manually. Now you can on Kite web & soon on mobile.
Tags have been on Console since last year for creating goals on holdings & tracking P&L (trading journal). But trades & holdings could be tagged only by the next day, which meant many missed doing it. Now it can be done while placing an order.
So you can tag an order to either a goal or the reason for placing the order. All tags get imported to Console by 8 AM next day, and you can then filter holdings & P&L by tags. If you miss tagging while placing an order, you can always do it on Console the next trading day.
The next & more complex plan is to show P&L for tags when an order is being tagged & nudge customers away from taking trades for reasons that haven’t worked in the past.Tags on Kite are in beta; if you have any feedback or spot issues, post them here.