Do you keep a record of your forex trades?

Discussion in 'The Cocktail Lounge' started by SamClemensMT, Jan 2, 2015.

  1. SamClemensMT

    SamClemensMT Well-Known Member

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    Is it worth while to keep a record of your trades? That was a rhetorical question. Of course you should keep a record. This is the only way you can tell accurately what's going on with your trading results. The data in your trade journal should be analysed periodically to help you to fine tune your forex business and get better results. There are even software programs to do most of the hard work for you. A good one is "Forex Smart Tools".
     
  2. crimsonghost747

    crimsonghost747 Senior Investor

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    Just to add to this: if you don't keep a record, then I think you will find yourself in a lot of pain and suffering once it's time to file your taxes. :D
     
  3. daveM

    daveM Member

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    Studying successes and mistakes is a great way to learn. I like to make a pic of the market at the time and put some notes on the pic, review pics from time to time. I do not log my trades formally, just use the screen editor.
     
  4. shilpa123

    shilpa123 Banned

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    I have never been very interested in forex trades hence I do not keep records of it. I believe that one should keep records of it if you are interested in the job. I hope to have interest in it one day.
     
  5. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I'm not a forex trader, but I've always used better broker dealers whose programs automatically keep records of transactions and account activities, balances, etc. Tax time made easy. :D
     

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