Ways on How to Keep a Forex Trading Log
Most traders will agree on the statement that keeping a forex trading log is important. Many people view log as something that is similar to a diary. On the other hand, a "trade log" is considered as something that one trader does when he or she wants to keep track of the details in trading. This refers to the activity wherein one will have a piece of paper and a pen or even a pencil and then it is time to write down the trade logs that they have been keeping up with for some days already. Actually, this is one of the methods that some of the traders presently use. However, this is not really advised because there is a great risk involved that one will lose the information that they have taken into account or in some instances, there might be another individual who will get through the data.
Keeping a trade log is easy if you know how to do it properly. Obviously, one of the best ways that you should do is through the use of computers. This is very useful since you can be sure that what you have jotted down will not be lost and it will be easily retrieved. You will be able to access the information in no time at all. Additionally, you can even bring it with you at all times without worrying that you will lose the data. Although there are some people who save it in a word document form, it will be a lot easier if you will utilize Excel or other similar programs.
A document in word format enables people to easily write down paragraphs or notes if they have some comments on a rate or exchange movements, which is useful if there is a need to be reminded of something important.
For Excel users, this is very appropriate if there are lots of data entries since it will look very organized but this is not really suitable when it comes to writing down remarks and other related things. You should be able to decide which one of them is the one that suits you but make sure that you are comfortable with the program that you have chosen.
Whether you go for manual forex trading log, recording or using the computer, you have to make sure that you are consistent with your method. This is because all the notes you have produced will only end up all over the place. - 23196
Keeping a trade log is easy if you know how to do it properly. Obviously, one of the best ways that you should do is through the use of computers. This is very useful since you can be sure that what you have jotted down will not be lost and it will be easily retrieved. You will be able to access the information in no time at all. Additionally, you can even bring it with you at all times without worrying that you will lose the data. Although there are some people who save it in a word document form, it will be a lot easier if you will utilize Excel or other similar programs.
A document in word format enables people to easily write down paragraphs or notes if they have some comments on a rate or exchange movements, which is useful if there is a need to be reminded of something important.
For Excel users, this is very appropriate if there are lots of data entries since it will look very organized but this is not really suitable when it comes to writing down remarks and other related things. You should be able to decide which one of them is the one that suits you but make sure that you are comfortable with the program that you have chosen.
Whether you go for manual forex trading log, recording or using the computer, you have to make sure that you are consistent with your method. This is because all the notes you have produced will only end up all over the place. - 23196
About the Author:
Mark Thomas, have developed a unique software tool called Trade On Track, which helps the Traders to Trade with Confidence , Security and Accuracy. To know more about Trade and useful tips on Trading, just log on to http://www.tradeontrack.com
posted by X - Men @ 5:10 AM
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