How do you keep track of your trades?

Hello,

I'm interested in how everyone keeps track of trades, setups and everything.

I know how important it is, to be able to improve my strategy, to have a written record of my trades that I can review at the end of the month.

Here's what I do:
My tools are basically three:
- an excel file that I use for inserting the trade data and it does my calculations.
- a notebook where I write by hand the data of the trade, one in every page, I also write down my motivations for the trade.
- a folder on dropbox where I keep the screenshots

Here's what I do:

-When I spot a trade that matches my strategy I start on the chart by drawing in it my entry, stop and take profits.
-The excel contains no history, I just type in the parameters of the trade and it calculates automatically the risk, the volume I should invest and the other parameters.
-Then I go back to the chart and if needed I tweak the entry and stops (rarely the take profits) to accomodate reasonably the results of the excel file, and I place the setup, with entry stop loss and profit orders.
-Then I take a screenshot of the chart and save it, in my dropbox folder.
-Then I go to the notebook and on a new page I report the data of the trade, I number the trade, so that I can refer to it in the screenshot, and write down what made me decide to place the trade, This is very important because it forces me to reconsider with cold mind the trade, and it happens that after writing this I realize I made some mistake, and cancel the setup.

At regular intervals I will check the trade, and take new screenshots to be saved together in the dropbox and I take new notes on my notebook (with timestamp) so that I keep an eye on the trade, and note down the changes if I do any.
When the trade is closed (either in profit, in not being filled or stopped out) I always take a new screen shot and write a comment on what I did right and what I did wrong.
Sometimes I keep checking a closed trade for a few days to see what the price does, and I note these too.

This notebook is also my planner, if I see a trade that may be good, but I need to see how price evolves before placing it, I note it here too in the same way, so I will keep tracking it and operate if needed

Once a month I review my trades book, and check what I did right and what I did wrong, I try to figure if there's anything I can improve and so on.

I'd be very interested to know if you keep a journal as well, and what it looks like and how you use it. If you have a trade planner and what it looks like.

Thanks

Giulio

Hi Guilo,
I do the same and guess most traders opt for the excel route as well. But there are a few online journals you can use for free and then, there are the premium versions with all the bangs and whistles..would suggest the free version for newbies and later on, move to the paid option if it makes sense.

Hey don could you please share excel file you use to calculate risk position size, etc.

Hey IBBinary,

It's nothing really, just standard calculations to calculate the risk of the trade and based on it the volume I should invest, very basic stuff.

I enter my entry and exit prices, pip value, and max risk, and it calculates the risk, the Risk Reward ratio, and the max quantity I should invest for me. Just really basic maths.

I'm afraid I'm not ready to share it, as it's really made just for myself, and hardly anyone else would be able to understand it.

sorry about that.

IBBinary, would you care sharing your journaling routine?

I think the trade explorer is really helpful and also having a notebook to write down ideas and keep track of stuff. It's easier to keep a notebook, jot down stuff right away rather than posting on the computer. Just my opinion anyway.

I didn't try the trade explorer, but I'm not too happy about sharing the password to my broker around. I don't feel comfortable with it.

What does it do once you connect it? I mean, what sorts of things it lets you do?

thanks,

Once you connect and make some trades it shows stuff like profit factor, winrate, number of trades average winning and losing trades. You can do this by hand I guess.

I just take a picture of the trade when I enter, update and close.

Interesting, I think quite few people do something similar, doesn't it get messy when you have many trades?

How do you organise them?

Do you ever review them?

I organize them by dates into relevant folders which you can create. It really is quite tidy and nothing says more than a picture