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How to make good trading records (three)

 T F ForexRapidRebateex Rapid Rebateading record stat rebateforextics  Your bottom line (all profits rebateforexfee losses) will give you an idea of your overall rebateforexbroker performance, and recording data will help you discover which parts of your trading system, plan and process keep you moving forward like a well-tuned race car rather than a worn-out old car Your performance will help you Determine what works, what doesnt, and what needs improvement Here are the numbers to keep track of your systems lifeblood at least:  Net Profit: This is your total gains minus total losses and expenses spent including equipment costs, commissions and other costs Profit Ratio: That is, total gains divided by total number of trades What is your profit ratio?  Loss ratio: i.e. total losses divided by the total number of trades what is your loss ratio?  Maximum Profitable Trades: will be removed from your "average profit" calculation is not necessary to do so, but if you have abnormally large profits relative to other profitable positions, removing them will make your trading position and expectations more accurate Maximum Damage Trades: price from your It is not necessary to deduct from your "average loss" calculation, but if you have an abnormally large loss relative to other impaired positions, removing it will make your trading position and expectations more accurate Average Trading Gain: handled by the computer itself, total profit divided by the number of profitable trades  average trading loss: by the computer itself, total losses divided by the number of damaged trades return per trade: average trade profit minus average trade loss average position time: total position events divided by the number of trades long/short trade gain/loss: this data helps determine in cashback forex type of trade, or that trading environment you are performing better maximum # consecutive losses: this data helps you determine your largest losses, and arguably the worst situations you have experienced average # consecutive losses: this data helps you determine the size of your average losses and helps you control the risk of the largest possible losses maximum drawdown of your trading account: after a series of compromised trades, the maximum amount your account lost record Record feelings and mistakes: how well or badly you executed the trade can be measured, and your mental state at the time of the trade can be recorded Your feelings can help you avoid trading in a frustrated state - for example, you wake up just as a news event happens (you forget), it drives the market to change rapidly, you rush to catch up but your computer crashes, you lose your strength, your dog happens to run into oncoming traffic and crashes and when you come back online you find that the market has moved 100 points in the direction you wanted to buy when this sort of thing happens, dont you get angry? Thats your mood must be bad, so its a bad idea to continue trading for the rest of the day Expectation: Simply put, expectation is the profit you want to make (the loss suffered) in each trade The value can be derived by multiplying the profit ratio by the average profit minus the loss ratio by the average loss This data helps you determine the correct size of the position and the effectiveness of your trading method to make a profit Ideally, you want to make a profit. nbsp;Ideally, you should write down all of this data so that you can compare and analyze your trading performance over time For example, at the end of the year, Zhang San looks at his year-end trading review and after reviewing all of his trades, he finds that he unknowingly made trades that deviated from the trend Understanding this, he can adjust his trades to avoid trading away from the trend and get better Trading performance The purpose of collecting and recording this data is to find ways to expand your expectations (profit per trade) and help you determine the right size of position and the most appropriate trading environment for you Trading record review  After a series of trades, you have collected some gorgeous data, market and self-observation records ...... How are you going to analyze it?  Its simple: 1. Find what works and keep it up 2. Find what doesnt work and scrap it in a hurry Find out what works and what doesnt work lies in careful observation and asking the right questions to break your trading results into several small categories of analysis, such as days of the week or specific currency pairs Here are questions you can ask yourself when reviewing your log Here are some examples of questions you can ask yourself when reviewing your journal: Which pattern or instrument works best for you? Which one doesnt?  How do you adjust indicators to get into trades early or to help you avoid double losses and false moves?  Are you ending profitable trades too early? Is it because you need to adjust your take profit targets, or are you worried that the targets are unrealistic?  Are you staying on damaged trades too long? What can you do to improve your stop loss process?  How often do you follow your trading plan? Are all the trades you follow the plan profitable?  What are some of the trade setups you missed or didnt use and why? Are there legitimate signals, or do you follow your own methods and systems?  What are some of the different ways youve come to your losses or expanded your gains?  Do you take more profits with multiple sets of trades or with a single set of trades?  In which market conditions do you perform well? Trend or range?  Do your profits and losses occur only in certain currency trades?  What news event brought up the idea of making you want to trade or avoid trading?  Which trading session is your trading style best suited for?  Are your damaged trades concentrated on certain days of the week, such as Mondays or Fridays?  These kinds of questions can help you quickly find the practices that are preventing you from making money To start, the idea is to get a clear understanding of where you fit into those practices so that you only do the right things Once you figure out the right things, the next step is to keep practicing those practices until they become a habit Ultimately, keeping a log will allow you to achieve your best performance This will help you identify when the market is changing - indeed, the market is always changing Keeping a trading log is difficult, but useful  Lazy Keeping a trading log is very difficult But then you will lose your trading capital and become a failure Forex traders, give up, never trade forex again and then start thinking back to those simple happy days when Superboy was performing You want to choose that path?  Recording trades in a journal forces you to view your trades in black and white, rather than relying on your memory, which for most people is stretched More importantly, a journal enables traders to step back and view a group of trades they made, not just individual random trades That sounds like a lot to do, doesnt it?  It does, but doesnt everything take a moderate amount of effort to get there?!  Keeping a log is like a practice an athlete does Its rare for a professional farrier to spend less time training than he does competing Tim, Michael Jordans personal fitness coach, said:  "Michael scores 40 or 50 points the night before, and the next morning, hes right back into training he unwilling to take a day off his perseverance is incredible, but the willingness lies in his readiness to be physically ready every day he famously said, I train hard because it makes the game easy" 10-time U.S. college basketball champion John? Wooden, known as a basketball great he has to train a rigorous 2-hour session 5 days a week to prepare for a 40-minute basketball game Do you know how long that is? 10 hours (600 minutes) of training for a 40-minute game  and not only that! Not only does he emphasize rigorous and serious training, but he also records the status of the practice Coach Wooden reviews his logs when the team he coaches has a problem he is having trouble solving For example, if he is coaching a team that is shooting poorly, he will study past practice logs to see how he can improve his shooting percentage Even in the days when there were no computers or iPads, Coach Wooden understood the importance of keeping a rigorous log Importance Although the action of keeping a journal is not that difficult, it does take time and effort it is definitely a time-consuming process Summary: Keeping a trading journal   PS: Always record the following details in each of your trades: why you entered, how you exited, and why you are that way Consistent success Trading consists of three elements:  1. having and executing a good trading plan;  2. a trading plan that includes a good trading system;  3. reviewing and improving trading performance and plans Every trader should keep a trading log and focus on these elements The trading log records your entire trading activity keeping a log The purpose of keeping a log is to monitor the performance of the trading system and your ability to stick to the trading plan A bad trading system is not the main reason for poor trading performance compared to a traders inability to apply the trade properly Then follow the trading plan Trading logs ensure that you can do that Trading logs provide a tool to help traders who really want to make money evaluate themselves objectively  A journal is only as good as the content it contains. If you cant accurately track past trades, its hard to judge trading performance Start keeping a trading journal. Not only that, when you look back at your trading after a month, we guarantee that you will understand your own trading psychology you will be able to clearly understand what you are good at, what you are not good at, and what is the best way for you to trade No teacher, book, video or seminar can teach you these things Only after going through this can you become a successful trader To strengthen Trading skills, you need to have the determination to keep a trading journal Here are some final tips that will help you keep a trading journal: Start keeping a journal before the trade starts and after the trade is over, end the log Write down everything dont leave out honesty If you intend to play the decisive moment when trading and therefore forget to leave the market, write this down and then explain why  Pay attention to your emotions make sure you write down your emotional movements Make sure your journal includes observations about yourself, your trades and the forex market We find that trading journals often focus on self-analysis and record very little market observation Take screenshots of intraday trading charts and write down your comments on them Record the patterns you look for After a few months you will find that these patterns really do emerge Trading journals are a Learning tool, but also a great mechanism to train your eyes to spot the trade setups you want Its not silly to record anything in your journal Write it down Write down whether you missed a trade because you were watching a new TV show, or because you were playing Warcraft, or because you were chatting with your sweetheart Write it all down  

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