As a trader when you full day now for almost seven years, I know better, easier (and successful) commercial life can be when you keep your own plan personal transactions, and to capture, track and analyze every move you make.
Just recently, I was asked my recommendation as to whether I shall begin my account records above as we are approaching new year trading. Here was my answer (edited) ...
There is no imperative to launch another new sheet (or records), especially if you have thoroughly analyze your trades and adjusting your transactions from the findings of your results. If the task is updated, it will say you can keep doing what you're doing and keep adding vital data on the same sheet (or write) that you are using. If you do not continue with regular analysis of trade, and I would like some ideas for adapting or then calibrate your analysis records, please keep reading.
Let us first remember why we maintain a commercial records in the first place.
This trader using SpreadsheetTM Journal Trading, so I assumed that any program that uses the reader also monitors performance monitoring for various portions of the analysis of overall performance.
From detailed stats should operate more synergy with another, monitoring these stats over time will allow the trader (or in this case, the trade-tracker) the following advantages:
Discover correlationsMaintain successful strategies and TacticsIdentify unsuccessful strategies and TacticsA means to confirm consistency of results and performanceRecognize mistakes and errors caused by modern losses-unlock future profitsA warning that something is wrong when your ratios differ significantly from historic averagesand course ... Improving knowledge about this! ... Customizing your design business magazines/tradingWith the new year (2011) come new expectations, new goals and an opportunity to reflect on the changes we need to do. If your plan has changed quite a bit so that the information on your current spreadsheet program or records are no longer valid, you may want to start again, taking the information you've gleaned from the ex-ante sheet and modify how your using it (or won't) do. .. along the way.
Note that tracking your classes will have a positive expectancy and add them to a new card (or records). For these categories that did not produce a positive income, consider these particular professions to find if there is one common denominator produced net losses that you made. If you are using a spreadsheet, you can use the Auto-filter, sort, only those particular professions, then reading your notes input and output, looking for similarities on losses.
Better still, if your hyperlink (or stored copies) charts each trade, compare your notes into what really happened on charts and, above all, make sure that you can compare them with your notes trade project. I try to review all my distribution around a week after that occurred when they are well above the market and any emotional calibrations.
Did you follow your plan? If you did, and the majority of these occupations brought on life is negative, then you'll need to take action. Try again, finding the common denominator, brought on losses.
Consistently ...
Enter very very poor soonEnter lateTake (proportion of reward-to-Risk) tradesTake trades that really wasn't in your Trading-planPlace stops too tightInitiate TRADE with too much (or too little) shares, conventions or LotsTake for extremely riskEtc ...If there is no real common denominator, then perhaps this type of professional really don't fit your trading style, personality, or you simply cannot really understand the concept of why having primarily those professions. It can take a further study on the special dynamics involved in these professions.
I know that you do this by mistake in the past, downloading and distribution that was written in a newsletter service or chat room, or called from a participant (or even a moderator) to a trading room-that simply do not understand-but took them anyway hoping for the same results. Professions rarely (if ever) is operated by the same for you or me, as do from source came from. These professions must be in a commercial project (I), and must understand the idea behind them, before you trade!
I followed your plan? Now is the time to reflect and remember why it is so important for your project. It is a means of keeping yourself honest, consistent and peaceful during the heat of battle. Your plan will have to tell you what to do in any situation, now is the time to adjust accordingly. Remember, eliminating losses and mistakes that could have been saved by a detailed action plan, equivalent to future profits!
Would you like to learn more about how I've been monitoring and resolution of my transactions made during the years? Visit http://tradingspreadsheets.com/default.aspx to display all products Trading Journal SpreadsheetTM created for all Stock, Forex, Futures, options, spread betting, CFD and pairs merchants. Today is the day that you need to start capturing and analyzing your success and build confidence in your decision-making.
Article source: http://ezinearticles.com/?expert=greg_thurman
0 comments:
Post a Comment