Why setups, and not just notes
Most traders run three to seven strategies — breakouts, pullbacks, failed breaks, opening ranges, gap fills. Without tagging which strategy you used on each trade, you're guessing at which ones work. Setups turn that guessing into data.
After a couple weeks of consistent tagging, setup analysis shows the win rate, P&L, profit factor, and average R per setup. Often you find the strategy you thought was your bread and butter is actually breakeven, and a quieter setup is doing all the work.
How tagging works
Create your setups once
Management → Setups. Add the 3–7 strategies you actually trade. Short, descriptive names. You can always add more later as you find new patterns.
Assign during your daily review
Open the calendar, click into the trading day, click each trade, pick the setup from a dropdown. A few seconds per trade.
Read the analytics
After 30+ trades per setup the patterns get statistically real. Win rate, profit factor, P&L, average R per setup — the ones that should keep getting traded and the ones that shouldn't.
One setup per trade on purpose
Each trade gets exactly one setup — the primary strategy you used for that entry. Multiple setups per trade would muddy the data; setup-level analytics only mean something if each trade is attributed to one strategy.
The way you describe other context — market state, execution quality, mistakes — lives in tags, where you can apply many.
Start with three to five setups. A 30-tag taxonomy on day one feels like a chore and you'll quietly stop tagging. Add more as you find them.