One of the useful pieces of information one can utilize for evaluating the actions as Forex dealer is trading log. With every deal, one should maintain a track of opinions and actions therefore one can enhance the approach towards trading. Here, you will come across some popular entries in the trading log:
• Entry cost
• Number of lots
• Target cost
• Reason behind making an entry into the deal
• Exit cost
Once a person has logged nearly ten trades, one can move back for comparing the thoughts to how a market reacts after one’s entry. Some of the important questions that you should ask to yourself include:
• How did the trading market do trading after I make an entry into trading?
• If the trade helps one gain huge profit, how much did the trading market move before reversing?
• If the deal was regarded to be a loss, how gainful did the deal become prior to the reversing
• Which is the direction of trend on the regular chart when an individual opened a trade?
• If the deal was gainful, how much of a movie did I watch?
• Can I manage the trade in a better manner?
• Was the size of the position good or was there any need to do certain adjustments?
These are few examples. With ample amount of time, one might need to log large number of information or ask difficult questions. Analyzing the actions is regarded as the best method to find if the things that you demands improvement or any changes. Positively, the account balance from one month to another allows one know if the thing that you do makes any sense or not, but becoming better is important for successful trading and maintaining a log of thoughts and actions is one of the best ways to analyze the actions in an accurate manner.