Trading As a Real BusinessJournaling, Diaries, and

Trade Analysis

How Keeping Good Records Helps Build Profits

And How I Found a REALLY Cool Way to do it!

Why Journal?

• Insights Simple Numbers Cannot Reflect:– How your midset was at time of trading– Strategy Used– Detailed Market Information– Notes in regards to the “whys” of entry,

management and exit

Journal Information• Pair, Date, Time and Session• Entry Point, S/L, Take Profit• Type of Trade Taken• Reflection of Psychology• Market information

– Attach a screenshot at entry and exit– Written notes about market– Fundamental Factors

• Trade Goals (Why THIS trade? And how to does it move towards overall goals)

• Results

Why Diary?

• Takes Things Beyond Individual Trade• Understanding What Type of Session or Week it

was• Understanding the bigger picture of the

markets for the session/day/week• Understanding Fundamental Influences on the

Market

Diary Information

• Broad Conditions of Session/Day/Week• Ex: Was it an NFP week? A Summer Week?• Ex: Was it an active London Session, NY, etc.?• What were the overall fundamental factors, like

which pairs were moving strongly?• What was going on in other markets?• How were you feeling that session/day/week

(psychological information)

Results-Based Trade Analysis• The Math Associated With Trading

– Win Percentage– Risk/Reward Ratio– Breaking Down Results By Pair– Breaking Down Results By Strategy/System/Timeframe– Understanding Losses– Average Sized Win– Average Sized Loss– Number of Trades Taken on Which Day(s) of the Week– The More organized you can categorize each type of

trade and result (and information per trade) the easier it will be to see how to improve

Popular Results Analysis Methods

• MT4 Built In Results• Online Tracking like MyFXBook• Microsoft Excel Spreadsheet• Trade Management Software

Drawbacks To Listed Methods– Very Little/No Automation between journal and

results analysis– Journaling can be time consuming and that’s why

most people don’t use it– Can be hard to self-analyze and truly understand

correlations/connections/causations– Staying consistent to give correct sample sizes for

each area can be time consuming.– Staying Objective and not blaming things that

aren’t you.

Download Link For Free Journal and Discount Code For Edgewonk

• Free Journal Software:• https://www.forexmentorpro.com/members-ar

ea/module-1/trading-journal-template/

• Edgewonk.com• Special Forex Mentor Pro Discount Code: fta20• Gives a $20 Discount until 12/13/2016• There is also a free trial on the website