QuoteOriginally posted by: AdvaitaMaintaining a paper-trading bookHi,I have a few trades that I follow on a daily basis. Is there an optimal fashion in which I can understand how the trade is performing?For instance I am long the 10s/2s swap spread starting Jan 2 2008 and want to see how the trade performs on daily basis.How would I look at the p/l on a daily basis. How would I discount it? Is there some way I can look at the risk, VaR, etc? How about changing stops, etc.?Is there a book/article that talks of this? Or anybody has any ideas?Thank youThere has been some past discussion about this topic over the forum. Basically you can pick from static measures (eg. P/L, sharpe ratio), bootstrap procedures and to filtering techniques (static measues across time). Use the search link and you'll should be able to find the threads.