Keeping a trade journal is one of the most important factors of a successful trading career whether it is futures, forex or stocks; you can download an example journal for your trading statistics below free. I know that many investors says "you should always keep a trade journal" and I also know this is the last thing that most traders want to spend their time doing! It just seems like one of those things that is a waste of time in the beginning stages because it is very difficult to ever imagine looking back at something that occured a year ago. However that is exactly what should be done!
Trade Journal Statistics
Now I'll tell you why keeping a trading journal can help you in your path to success. Every trade placed is a new statistic that makes up the entirety of your trading portfolio. Understanding these statistics can save you from the downfall of a potential career path. Some of the details that we gain are as follows:
- Win to Lose Ratios
- Best Vs. Worst Trading Months
- Best Vs. Worst Trading Days
- Best Vs. Worst Trading Time of Day
- How Many Trades Placed
- Reason for Taking Each Trade
- Percentage of Buy Vs. Sell Positions
- Average Time in a Position
- Many More...
Benefits of a Trade Journal
Using this informaiton we may determine that it is best not to trade on a certain day of the week or even during a certain month, we may also find certain patterns in our own trading which can be prevented in the future. Without keeping track of each and every execution with detailed records, it is simply not possible to remember all of your trades as well as the exact prices.
To help you with this I have created a simple trade journal that will help you keep track of your trades and maintain a progress report. To download the free trade journal please visit the link below.