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Trading Record - Keeping Track Will Help Your TradingDon't expect different results from doing the same thing over againA big part of maturing as a Forex trader is being able to improve the "win" ratio of your trades.In order to determine if you really are improving, you need to analyze past trades and try to determine why they were winners or losers. It is very important that you determine what worked or didn't work, so you know whether or not to adjust your trading style. An excellent way of doing this is to keep a record of all of your trades, either in a journal or on log sheets. It doesn't have to be fancyI use a simple steno book with the wire binding for my notes. These are available from any dollar store and are great for jotting down notes about your trades.Some traders prefer to use log sheets, and there is a link below to a log sheet you can download for your trades. Keep the completed sheets in a file folder and be sure to complete and review them once your trades close.
Be honest with yourselfWhen you analyze your trades, include notes about anything different you tried with that trade.Did you move your stop? How did that work out? Did you average in or out of the trade? Did it help your result? Be honest with yourself. Only a fool would expect different results from repeating the same actions over and over. You need to determine what works and what doesn't. It's part of developing your winning system. Wishing you trading success,
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