Saturday, April 25, 2009

Record All Trades

It is important to keep good records all our trades just like doing business keeping proper accounts. So that we are well aware of what we did, why we did and how we did. These records are good for reference and study in the future. We loss, we want to know why we loss and when we had big wins, we also what to know how we got them. More over, when we have string of losses, we might want to see our past winning records to encourage and inspirer us. And when we have successful trades, we also want to read the previous losing trades to remind us of not to let the profits going over our head.

Entry Date, Entry Price, Stop Loss, Potential Profit Target, Volumes (lots or contracts), Reason Of Entry, Reason Of Exit and Comments (It is very useful for future reading)

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