Keeping a Record of your TradesKeeping a Record of your trades can act as a scoring card and also allow you to find out where you need to adjust to become more profitable.It is amazing how much something as simple as keeping a record of your trades can benefit you. Yet most investors do not do this. They will not take the time to learn, improve, and most importantly find out if their strategy is making them money. As a result 90% of traders in the market fail to make money. They just do not treat trading as a business. Every successful trader should have a journal somewhere where they record there previous trades. In this journal they should keep track of the price they bought it at, the sell price, the reason for entering/exiting and anything else that could be important. You may also want to Wright the exact date you placed the trade just in case you want to go back and review it further. You should keep your Trading Journal Safe and out of harms way. Lock it up somewhere where you will not lose it but you have easy access to. You want to be able to grab it at anytime without having to find it. You should check your trading records once a month. Check to see if your system was working and which strategies did the best last month. You would also want to check to see if you made any mistakes. Finding your mistakes is the first step to fixing them. Basically use this time to review, how well did you do vs. how well could you have done. Keeping a trading record is something common to all great traders. It allows you to learn and grow. Remember trading is a business the more you treat it as such the better you will become.
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