Track your trading performance
- Thread starter Coner1980
- Start date
I prefer to journal my trades and everything related to it nd I find it helpful. But, I have some trader friend who tell that it is not an efficient way, they even recommended some software for the same. And now I am confused on what should I choose?
For newbies, this may be overkill so it’s a good idea to start by hand and work your way up to automation if the need occurs. Automation is most suitable for high volume active traders as opposed to swing traders that only make a handful of trades a week. The downside of automatic trade tracking is that it might be overwhelming, it is less customizable and it comes at a cost (software fee).
It is the best way of analysing one’s progress and making changes or adopting completely different trading strategy depends on this analysis.
Keeping the track of the trades is very essential analyse the progress in the quality of the trades and make them better everyday.
I think you should continue to journal your trades as you are now if your find it comfortable and efficient. Every trader has different needs and ways of understanding things.
traders have different plan , they choose their trading strategy according to their understanding and planning.
Analysing the past trades, looking for better ways of trading and making amendments is the best way of bringing out the best version of the trades. This helps in consistent growth and a long term success.
Journaling can help in analysing the trade and reason for these deviation. This allow traders to search for possible solution amd make required amendments to achieve the expected target.