7 Reasons to use a transaction log

By Barry Taylor Barry Taylor
Level: PLUS basic

Barry Taylor for a living trades and specializes in stock-index futures E-mini S & P500. The Emini-watch.com Web site keeps track of leading indicators of market and is a free ...

If you are already using a transaction log file, now it's time to start. Apply a transaction log can help you find and correct trade errors regularly. The seven mistakes are most often trade are listed below and the reasons for you to maintain a transaction log file.

Trying to pick tops and bottoms, I feel like a break-out (professionals enjoy faded breakouts), without confirmation from my volume indicators (wait for things to line up is hard); hesitating on entry, revocation of a request (the biggest mistake of all); Moving target profit, andLetting a profitable transactions transform into a loser (rare).

Maintaining a commercial recording and mapping your mistakes to spend valuable time by avoiding these mistakes and improve profitability. The information you put in a transaction log file is a personal decision. Very little information provides no real benefit, but too much information can be unpleasant and often not reviewed.

Keeping it simple. Record daily totals of trades and in line with the distribution of swing. Each day evaluates each trade during these seven mistakes. Over time, you will need to make fewer mistakes. It is the best way to keep this information in a spreadsheet. It can be in the form chosen, but pre-labeled spreadsheets are available online.

The best spreadsheet will include some of the following headings:

Starting conditions: these include date, price point Emini, Commission, beginning balance objective, target margin per contract, targeting daily points and values; import prices Attentive: every trading day the day-to-day operation: entry points, number of trades and the number of contracts traded; Seven mistakes: next evaluates each trade during the seven errors or other errors that usually make. Add the number of errors of the day under each type of mistake. Performance against Target: as soon as they are all the information it receives, you can compare your performance against targets and or chart or graph the results. It is generally better to have a modest goal achieved often instead of one big goal that rarely achieved.

The transaction log can be valuable for the trader who wishes to improve over time. A spreadsheet can be adapted to the needs of each dealer or a Emini any market. The more quickly your career start transaction maintains a log file, the more quickly you can identify any errors and to modify commercial behaviour to improve performance.

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Article submitted on: December 21, 2010

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Transaction commands;

Rodenhouse By Randy Randy Rodenhouse
Level: PLUS basic

Dr. Randy Rodenhouse is detected and CEO of room.com transactions. Using transaction experience that spans more than a decade he helps new traders enter ...

There are many factors that need to be a successful trader. many of them it's all about how to go about trading. Who makes certain the easiest yet harder traits yourself to fish and can change. If you follow these instruction or vows can be on the right track to make a lot of money.
I negotiated a tried and tested system with crystal clear calls in market direction, location input, stop posting, transaction management, and strong psychological reasoning and support I realize that I can create my own luck and fate by study of markets focus makes the right to market, and while it seems to me clear illusions and "trading noise" caused by too much information on markets and in the Forex trading news is fun fearless, killer, high-speed.There is a place for me to be "conservative", passive, or "low key" I love completely Forex transactions.I love the thrill of being in this business I only trade Forex when I consider positive and idealistic.I have already won the game before I begin.I have every negative thoughts about trading now, I would not trade today because it is likely to lose their money; there's nothing wrong with taking a vacation from trading, whenever I am not feeling well controlled and I totally get that consistency is more important than the "right"; Having a desire to be "right" for beginners and money is what makes the real professionals, I desired to be a business every day focusing on what has been tested to function properly-a method that produces a steady profits while protecting me if I'm wrong I monitor my exact of all professions, including gains and losses, also maintains a newspaper or my thoughts, as I did so because a particular brand and what happened during the trade both in the markets and in my head. IN this way can I track my skills as a trader and trade my mental development. (I) for a life as a professional in the enterprise. an enterprise, can I use a part of my earnings to further educate myself, to vacation and my purchasing gifts for loved ones who support my work and I contribute to charitable causes.

Follow these instructions and get some education Forex, then you'll be on your way to making profits in no time.

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Article submitted on: January 09, 2010

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