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

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

The best way to journal and 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 and losses of your trades.

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

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

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

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

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

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

If the forex trade was profitable you will write the profit amount in also write the reasons why the forex trade was profitable.

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

You will then use the list of trades for a given time period and use this data to calculate the overall profits and 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 & use the Excel spreadsheet to calculate profits and gains for this particular period of time.

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