Recording of pass profit and loss trade in Forex trading activity is very important for a Forex traders. Even though we are a novice just beginner Forex trader , or seasoned professional in the Forex market tracking back and evaluating past trades gives us to work out the things of any benefit Forex trading plan. one of the simple ways to keep our Forex transactions it through recording a trading journal troughout the weekly trading. This could be a hard job at first buy consistency is very important, and can be made easier by having a trade journal to log.
The elements you pick to keep in your trading journal may vary from trader to trader. If you do not know where to start you can take an example trading journal above. I suggest that at least you keep the foreign exchange pair ( such GBPUSD ) , open and close price, and profit and loss for keeping purposes. This method when it is time to review our past transactions we have the complete details to do so.
A miscellaneous element that will let you to keep data including what prompted you to entry into a market trade, be sure to take a note section under each transaction. You may include other data about what Forex indicators were used ( such Moving Average, Bollinger bands, MACD moving average convergence divergence, etc. ), market situation ( such breakout, range, or trend ) or any other data that may become helpful when reviewing past trading failures and successes.
