Do you often encounter situations like this:
When you see certain patterns appearing on the chart, enter the market immediately, because it was profitable to enter the market in this situation before, so you can't miss the opportunity.
But something is wrong today. After you enter the market to go long, the market starts to fall. You are a little surprised, but you still think that it will definitely rise, you can’t be wrong!
But the more you want to go up, the more it goes down, the market seems to be against you, your heart is bleeding...
When you really can't handle it anymore, you can only reluctantly "cut the flesh" with frustration and annoyance.
What is the problem?
You are very depressed, you open the transaction records of the software to check, and try to recall the original situation, but the memory is already blurred, and the harder you think, the less you can remember.
If you look at the chart of the large period, you can’t find a clue; if you want to look at the chart of the small period, you can’t find the chart anymore, because the software records limited data.
But the real situation may be in the same form. You have lost several times before entering the market, but at that moment, your greed brought out these profitable memory fragments and put them in front of you... .
Sadly this happens quite often...
Have you found out where the problem is? A big reason is that you may not have kept trading records, so you always enter and exit the market based on feeling, rather than system and principles;
And if you are already making transaction records, it may be that you are not doing enough "quality goods".
Some people will say, isn't there already a transaction record on the trading software? Is it necessary to make a manual record again?
Yes, it is necessary. Whether you are a novice or a veteran, if you make a transaction record, then it will become a huge treasure for you!
For novices, transaction records will be an important basis for building a trading system.
For veterans, transaction records are an important tool to improve their skills and keep improving.
Why is the transaction record so important?
Because the transaction record is not simply to record each order, but to record your entry reasons, exit reasons, market conditions at that time, your psychological state and other important information. These will be available to you in the future.
When every trader first enters the market, he will often make mistakes. Traders who do not keep trading records can hardly be aware of, or even be completely unaware of, the mistakes they make, and the same mistakes will be repeated one after another.
And by recording every trading situation, you can easily find the mistakes you made, and constantly reflect and correct them in the mistakes. Only then can your trading level be continuously improved, and you can continue to improve and grow.
Transaction records can not only correct mistakes, but also allow you to summarize and summarize better transactions, and then transfer them to future transactions, so that your overall profit level will increase.
By analyzing transaction records, you can intuitively realize your weaknesses and discover your strengths, so that you can maximize your strengths and avoid weaknesses, and keep improving.
So how to make a boutique transaction record?
Some veterans who have been in the market for several years also keep transaction records, but it is too simple, and the available value is much less.
Since transaction records are so important, it is necessary to make transaction records as detailed as possible.
The steps are as follows:
After admission——
* Save all the screenshots of the charts of each cycle during the transaction, the cycles you usually use from large to small; save the screenshot of the entry delivery order;
* Write down the entry basis; write down the stop loss position and basis; write down the target position and basis; write down your psychological state when entering the market;
* Write down if there is any need for improvement when you enter the venue;
* Write down your forecast of the future market, what situation can increase your position, what situation you must reduce your position, and what situation you must get out of the market, all written down.
After playing——
* Save the screenshot of the chart when entering the market; save the screenshot of the delivery order when entering the market;
* Write down the basis for your appearance; write down your psychological state when you are out;
* Write down if there is any need for improvement when you play;
* Summarize the experience and write it down: what did you learn in this transaction?
In case of loss, did you exit the market according to the stop loss position? Why loss? How to improve? Did you make a mistake? If so, how can I not make the same mistake again?
If you make a profit, do you enter the market at your expected take-profit position? If not, why? Is it possible to summarize this profitable experience into a model and transfer it to future transactions? Is there any room for improvement in this transaction, can it be done better?
Did you implement the exit plan you made when you entered? If not, why? How to improve your executive power?
To go further, you need to make a trading plan, because the trading plan made before entering the market will be more objective and will not be affected by emotions.
For veterans, they also need to check whether they have strictly implemented the trading plan? If not, what causes it? How to improve?
Make good transaction records, find out the countermeasures to these problems, and slowly your transactions will become more and more stable.
The transaction records are our treasure, how to dig out as much value as possible?
1. Regular review
If we want to improve our skills, we need to review frequently, every day, every week, and every month.
During the review process, I kept asking myself, how can I do better ?
Some people may have some doubts, thinking that the transaction records have been reviewed, do they need to be repeated? It is really necessary, because in the process of continuous improvement of your skills, your understanding of the market will also continue to deepen, and you will learn new things by reviewing the past . The same record, if you look at it in different periods, you will always have different gains .
2. Statistics
After a period of time, every month, or every six months, or every year, make a comprehensive statistics of your transaction data:
Evaluate your own trading level——
* What is the proportion of profit orders? What is the average profit amount of a profit order? What is the average profit point? What is the maximum profit? Is it luck, or a strict execution of the trading plan? Is there still room for improvement?
* What is the proportion of loss orders? What is the average profit of a loss order? What is the average loss in pips? What is the maximum loss? What causes it? How to prevent this from happening again?
* What is the winning percentage? What is the profit and loss ratio? Compared with the winning rate, is the profit-loss ratio reasonable? How to improve winning rate? How to improve the profit and loss ratio? Is there a way to reduce losses or increase profits?
* How many consecutive profit times? What is the number of consecutive losses? Is it possible to increase the number of consecutive profits? For the highest number of consecutive losses, does the position need to be adjusted accordingly? What is the maximum drawdown? How to reduce the maximum drawdown? Is it better to reduce the position, or is it better to take a break for a period of time due to continuous losses?
Analyze the pros and cons of your own transactions——
* Which trading variety are you good at? Which trading variety are you not good at? Is it better to participate more in the varieties that are good at? Is it necessary to eliminate or less participate in the trading varieties that are not good at to improve the overall profit?
* Which cycle are you good at? Which cycle are you not good at? Is it better to participate more in the cycle you are good at? Is it necessary to eliminate or reduce participation in cycles that are not good at to improve overall profitability?
* Which form or market conditions are you good at? Which form and market conditions are you not good at? Is it better to only participate in the patterns and market conditions that you are good at? Is it necessary to eliminate or less participate in forms and market conditions that are not good at to improve the overall profit?
* Which trading method are you good at? What kind of trading methods are you not good at? Is it better to only trade what you are good at? Is it necessary to eliminate or reduce the use of trading techniques that are not good at to improve the overall profit?
Many data trading software can automatically count, but it will also count many guaranteed orders and orders with very little profit or loss, which will cause partial distortion of the data. If possible, the data calculated manually is more realistic, so that you can better understand your real trading level.
Find ways to solve all the problems and formulate effective countermeasures. For novices, you can gradually build your own trading system and principles;
For veterans, they can also constantly improve their own level and keep improving, so as to make their profit level higher and higher.
If a worker wants to do a good job, he must first sharpen his tools.
Trading records are an important tool that allows you to go from an amateur trader to a professional trader.
If you haven't started keeping track of transactions, you should do so now;
If you have been making transaction records for a period of time, please make it a high-quality product as much as possible, and try to dig out the value in it, so that it can become an important partner to help you on the road to stable profitability!
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