Whats on your trading log??
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  1. #1
    Join Date
    Dec 2006
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    Norristown, PA
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    Post Whats on your trading log??

    I have been demo trading for months but I have yet to create a trading log that is satisfactory to me. I created an elaborate excel spreadsheet with links to word documents for printscreens of my multi timeframe analysis for the trend direction, my entries and my exits. I also have a column for comments. But I also have many fields for why I entered the trade, candlestick patterns, moving average crosses, MACD direction, ADX, RSI crosses and direction, Stochastics overbought or oversold, etc. I am ready to trash this log because it has too much info and it would take me 15 minutes to fill out one trade and I think its way to complicated. I am just curious what other peoples log's contain and if it seems effective for you.

    Topgun

  2. #2
    Join Date
    Dec 2006
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    Colorado, USA
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    I just have a simple spreadsheet that has a few columns:

    Date | Currency | Direction | Entry | Exit | Stop Loss | P/L | Comments

    Since I have already documented my trading plan, there is no need to put alot of stuff in the comments.

  3. #3
    Join Date
    Dec 2006
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    Norristown, PA
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    Thanks. I think I will throw mine out and make a simple spreadsheet like you are using. I might keep my button to plot my equity curve on a line chart. It always looks neat, atleast when it's rising that is


    Quote Originally Posted by ramrocket View Post
    I just have a simple spreadsheet that has a few columns:

    Date | Currency | Direction | Entry | Exit | Stop Loss | P/L | Comments

    Since I have already documented my trading plan, there is no need to put alot of stuff in the comments.

  4. #4
    Join Date
    Dec 2006
    Location
    Washington
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    213

    Default Hmm...

    Personally I am going to use the module in Drupal called book or something like that. I will have a chapter for each week. Then within the week pages I will have each trade, maybe a screen shot, my entry price, my exit price, and a lesson I learned from that trade or a reminder to myself. Personally spreadsheets I find lame.

    Once I get 50 posts ill give my forex blog a plug once and awhile so you can see what the hell I am talking about.

  5. #5
    Quote Originally Posted by topgun_68 View Post
    I have been demo trading for months but I have yet to create a trading log that is satisfactory to me. I created an elaborate excel spreadsheet with links to word documents for printscreens of my multi timeframe analysis for the trend direction, my entries and my exits. I also have a column for comments. But I also have many fields for why I entered the trade, candlestick patterns, moving average crosses, MACD direction, ADX, RSI crosses and direction, Stochastics overbought or oversold, etc. I am ready to trash this log because it has too much info and it would take me 15 minutes to fill out one trade and I think its way to complicated. I am just curious what other peoples log's contain and if it seems effective for you.

    Topgun
    I use a simple database with the basics: currency pair, entry, exit, reasons for entering the trade, post trade comments, and a screen shot. I print each trade out and insert them in a 3 ring binder for easy review each week. The database also allows me to print a weekly analysis of all my trading activity.

    Jim

  6. #6
    Join Date
    Dec 2006
    Location
    Norristown, PA
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    450
    Hmmm, never heard of that Drupal book. What is that?

    I personally learn so much from each trade (if it fails) that I think I am over documenting it. I just think that if I end up with a log of hundreds of trades, with barely no info then it is useless to me. I am even thinking of making a simple journal or diary type log that only list trades that failed and why since I know why the successful trades worked. Things like overlooking the news, or not looking at the daily/4hour charts to see the true trend which got me a few times this week since the 15 min chart showed bullish but everything else showed Bearish which is where it went .

    Thanks for your comments and I look forward to your BLOG since I believe you can learn the most from other peoples failures/successes).

    What is funny is that some day, maybe 5 years or so, is that I expect to have to mentor my friends who are only interested in this if I make $$$.

    Wish I had a mentor, besides babypips because it would make things so much easier than learning gradually on my own with the help of all the websites I use. (I actually have only been using babypips the most since I think it is more personal). I am getting too winded again!

    Quote Originally Posted by swordofrue View Post
    Personally I am going to use the module in Drupal called book or something like that. I will have a chapter for each week. Then within the week pages I will have each trade, maybe a screen shot, my entry price, my exit price, and a lesson I learned from that trade or a reminder to myself. Personally spreadsheets I find lame.

    Once I get 50 posts ill give my forex blog a plug once and awhile so you can see what the hell I am talking about.
    Last edited by topgun; 12-29-2006 at 10:21 PM.

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