Forex Credit

The only way to see how to turn a losing or borderline profitable foreign exchange trading system into a winning one is to record all your trades. It doesn’t make much difference whether or not you are trading in the real market, in demo or back testing. Having a clear and all-embracing record of every trade is the only thing which will give the chance to see where your system is succeeding and where it is failing. You’ll keep this on your personal computer naturally but you may also want to print out a blank one to fill out as you trade everyday. It is mostly quicker to fill out you chart with a pencil while you have the information on screen, than to switch into Excel and type the right figure in the right space on your spreadsheet. The first thing to note is that if you use several different trading systems, you need to record them on separate spreadsheets so that you can see which need attention and which are doing fine and should not be messed with. You will want your position size, costs ( spread, charges etc ) and the actual profit and loss in greenbacks ( or the currency that your account is held in ). This’ll help you see if you might increase your profits by changing your position on different types of trades. You may also want to record the particular signals that made you open the trade. As an example if you’ve got a system that relies on the stochastic being in the highest or lowest quintile (above eighty percent or below twenty percent) you can record the exact point that this was at when you made a decision to open the trade.