The TradeTracker Application enables FOREX traders to enter or upload their trades, and then manage, display, and produce performance metrics and downloadable reports of their major pairs currency transactions.
The TradeTracker application sorts all displays and reports by currency pair and date, and provides both a running position p/l and overall total balance. All data is downloadable in csv format.
A trader with hundreds of trades may not want to hand input each transactions into the application. For this reason, TradeTracker accepts csv files of the trader's transactions from their trading platform or brokerage house, and uploads this information into its database in a form ready for the trader to use.
The application also provides the trader with preparing a downloadable Equivalent IRS Form 8949: Sales and Other Dispositions of Capital Assets of their trades, saving literally hundreds of dollars in recurring yearly accounting fees from folks who most likely do not know how to report FOREX trade results.
The Equivalent IRS Form 8949 report is grouped by closed position vs by transaction, which is how trading results need to be submitted. This report is downloadable in a simple csv form, or as a ready to attach Equivalent IRS Form 8949 to the trader's tax return.
In fact, before developing this application for his own use, the owner of Riverside Software Development, a Senior Software Applications Development Engineer for over 20 years, spent $400.00 USD (probably more because the cost was buried in the entire return's preparation fees) to have his accountant hand enter and calculate totals for around 480 currency transactions onto an an IRS Form 8949.
And the totals weren't even correct! They didn't understand the difference between an individual transaction as opposed to a series of transactions forming the closed position of a trade. $400.00 is a great incentive for an engineer to find a better way. And that's how the TradeTracker application came about!