How Do You Calculate Profit & Loss in Forex Trading? - Best Way to Journal and Keep Track of Your Trades

How Do You Calculate Profit & Loss in a Journal? - Using Journal to Calculate Gain or Loss

The best way to journal & keep track of your trades is to write these trades in a journal - which can be a book or an Excel spreadsheet that you will use to keep track of the trades as well as calculate profits & losses of your trades.

When writing you trades in a trading journal you should decide what are the various points about the trade that you will be writing in your trading journal.

For examples the first thing that you will write in the trading journal is the instrument that you are opening a trade for.

Next thing that you will write in your trading journal is if the trade is a buy trade or a sell trade.

The next thing you will write in your trading journal is the time and date of when you opened the trade.

Next thing that you'll write in detail is why you've opened this particular trade & write which rules of your system were met so that you could decide it was time to open the trade.

After this the next time you will write in your trading journal is when you're updating your trading journal after you have closed your open trade. Once you close your open trade you will write if the trade was profitable or not.

If the trade was profitable you'll write the profit amount in also write the reasons why the trade was profitable.

If the trade made a loss you will write the loss amount in also write the reasons why the trade made a loss.

You'll then use the listing of trades for a given time period and use this data to calculate the overall profits & losses for that particular period,

To calculate the gains and loss for a particular period you can use an Excel spread sheet for a specified number of trades within a specified time period and use the Excel spreadsheet to calculate profits and gains for this particular period of time.

How Do You Calculate Profit & Loss in Forex Trading? - What's the Best Way to Journal and Keep Track of Your Trades?