How Do I Review My Forex Trades? - How Do I Review My Forex Trading Journal Trades?
When it comes to reviewing your forex trades as a trader the first thing that you should have is a list of forex trades in your forex trading journal. The list of forex trades should have some winning forex trades & some losing forex trades.
How to Review Forex Trading Results - What are the Aspects to Review in a Forex Journal?
After you have a list of winning forex trade and losing forex trades then the first thing that you will review is the win rate of your trading system. For example if you have a record of 20 forex trades in your forex trading you will first count your winning forex trades and then after that count your losing forex trades. If you have a total of 14 winning trades and a total of 6 losing trades then the win rate of your trading system is 70%. If using another example you have 10 winning forex trades and 10 losing forex trades then the win rate of your forex trading is 50%.
What this means is that if your forex trading strategy has a win rate of 70% it means your forex trading system produces 7 winning trades for every 10 trades - if your forex trading strategy has a win rate of 50% it means your forex trading system produces 5 winning trades for every 10 trades - The higher the win rate of your forex trading strategy the more profitable your forex trading system will be.
Therefore, as a trader the first thing to analyze is the losing forex trades and find the factors that made these trades to produce losses - then after that try not to repeat the same mistakes next time when trading forex.
Then review the profitable forex trades and identify why the winning trades produced a profit and try to factor in these factors the next time you are opening a forex trade so as to improve your forex trading results based on the analysis that you will have done from the review of the winning forex trades from your forex trading journal.
The next thing that you'll review as a trader is the profit per trade - once you have reviewed the profits per trade you will then identify the factors that are common for the trades that produced more profit per trade - you will then try and include these factors in your forex trading so as to improve the average profit per trade for each trade that you will open. This will try to help you to improve your trading results as you continue trading and including more of the factors that help to produce winning forex trades.
You'll also review the loss per trade & once you have reviewed the loss per forex trade you try to spot the factors that produce the losing forex trades that have more losses per trade. You'll then try to reduce these factors which are common in most of the losing forex trades & this way if you can identify factors which are producing more losing trades then you can help avoid making these mistakes the next time you open a new forex trade.
As a trader keeping a record of all forex trades in a forex trading journal and recording the details of the forex trades will help you to have a record of trades that you can later review and from the analysis of your recorded forex trades you can then find ways of improving your forex trading results based on the analysis you carry out using the review of the forex journal trades.
How Do I Review My Forex Trades? - How Do I Review My Forex Trading Journal Trades? - What are the Aspects to Review in a Forex Journal?
