Trading Recods.
I'm clean, no record M'lord.!

So you want to be a good forex trader, well the best will keep a simple record of ALL the trades they make, happy, not so happy or just darn lucky ones !

If you want to improve your forex trading then keep a trading journal of every trade you take I record mine on pre-printed sheets, it doesn’t really matter, on your PC or in a little note book. Whatever suits you.

Why should you keep a record I hear you asking: You ever lived in Tenerife! The power goes off here at least once a week and I lose internet connection several more times than that, but here’s the clever bit, I have all my trade information to hand….unless my pen fails too ;-{. Tenerife or not, at some stage it will happen to you. Then it’s oh no, don’t panic! don’t panic! But not for a smartar er I mean chap like me, my broker is another happy chappy who can adjust or close my trade with the greatest of ease because I have all the answers to all the questions the kind broker attendant is going to ask me. SO KEEP THOSE RECORDS.

Don’t make a meal of it my forex buddies, keep it simple.

• The currency pair
• The time of entry
• The ticket number
• The entry price
• The amount of lots

That will keep your broker happy, but on top of that for your own trader sanity include the following:

• Your reason{s}for placing the trade
• Was it a good or was it a poor decision
• The closing price
• The all important pips +/-

If you want to take it a stage further

• What were you wearing that day
• What was the weather like
• Did you have matching socks or underwear on
• Did you watch ‘24’, The Apprentice or a soap at the same time as trading
• Can’t believe you’re still reading this far…got ya again !

You can ignore the last section of course but the first two you would be well advised to participate. In front of you will be an exact account of your performance. An assessment of your trading skill and if you’re making wise or not so wise decisions or just lucky at times. Keeping this simple necessity in place will help ensure you stay on a safer trading road and are adhering to the rules of your chosen system. Referring to them frequently will most certainly help in you not making the same mistakes on a regular basis, I guarantee that. You’ve heard it so many times I know but it’s all about discipline, have the discipline to keep those records, do it from the start or start them now.