Traders - do you keep a log?

S

Seamus101

Guest
Hi.

A question to any traders out there (or indeed to active investors if it applies). Do you keep a log of your trades as you open them, and when you close them and if so, what method do you use? Do you use an A4 pad? Or an excel spreadsheet? Or something even more fancy?

I try to keep a log of any trades as I place them. For example, the reason behind the trade...what signal has occured to determine that I buy/sell. What are my stop levels if it doesn't work out? What is my target level, etc
And again when I close...did I make a loss or profit. What happened if I made a loss. Could I have avoided it. What can I learn.

Anyhow, just wondering if others do the same and what they use to do so.

Thanks all.

Seamus.
 
Hi Seamus,

This really depends on your trading style. If your trades are of a longer term, strategic nature it would mak sense to keep a log. From experience most systems you may choose will give you a trade log and also after a while you will forget about the log as you will remember the good and the bad trades !

Good luck
 
A question to any traders out there (or indeed to active investors if it applies). Do you keep a log of your trades as you open them, and when you close them and if so, what method do you use? Do you use an A4 pad? Or an excel spreadsheet? Or something even more fancy?

I try to keep a log of any trades as I place them. For example, the reason behind the trade...what signal has occured to determine that I buy/sell. What are my stop levels if it doesn't work out? What is my target level, etc
And again when I close...did I make a loss or profit. What happened if I made a loss. Could I have avoided it. What can I learn.

Anyhow, just wondering if others do the same and what they use to do so.
Click to expand...
Yes this is the best thing an active trader can do in my opinion.
I created a private blog on blogger.com for keeping a record of all of my trades. You have the option of keeping it private so it's not viewable on the net. I post charts for every trade and add labels to the post such as 'winner', 'loser' etc. so that I can easily sort the posts by winners, losers etc.
After 3 months of doing this I was able to see exactly what I needed to improve on and haven't looked back.. I guess it was my eureka moment:)
It's a simple idea but amazing how much it can help.
 
That sounds a great idea and it is a continuous learning experience . Can you copy the charts onto blogger.com ? Do you record the entry / exit prices ans well as commissions reasons for buying and selling profit and losses etc as well as a general comment .
I find that when doing my accounts i haven been able to remember why I bought or sold a share abnd the reasons for doing so . I will start this recording immediately .
 
Traders,

How easy is it to trade whilst doing a full time job in the day?

Can you leave your trades open until the end of the week? (Mark Shipman advises this and to only analysis graphs on a weekly scale).

I guess with relevant stop loses in place this method is adequate?

Cheers.
 
It depends on trading style and the timeline of the trade I think. I keep an eye on any trades as I am always near a computer. I can also open and close trades via my windows mobile which is handy if I'm away
from the office (i once closed a trade from the pub!)

I think is also really really important to have decided what your target or stops are for the trade so that you don't have to think about it in work...you won't really have time so you need to have analysed it the night before (also helps to avoid emotional decisions)...so, yes it is possible. Ideally you really need to be able to look at the market at the open, so if you can get to a computer then it helps.

And this kind of brings me back to my original post of looking for a traders log. Interested in the blogging idea. If anyone else know's of anything please let me know....otherwise I might think of developing something myself (that's my day job).
 
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