How to keep organized trading forex?

@FradeauX You made a good point, especially applicable for newbees! Just set an amount to invest and find the best option according to the risk tolerance.

Organisation comes with focus - on one strategy, on one style and maybe even one instrument, or a few maximum. I like the other good advices shared here as well.

@holdend yes, though to me it seems obvious. If you don't control your emotions then there is no such a clear border between trading and gambling. Unnecessary risk-bumping amounts lead to unnecessary emotions, which in their turn lead to unnecessary disappointments and unnecessary quitting of forex trading 😉

I agree – being organized helps one focus better on the task at hand, and being able to focus means one can be better organized. You could say that the two things stem from each other.

I always print off reports monthly, list setups and keep a record of times when my emotions almost got the best of me, which in turn help me hold myself accountable and stay focused.

ecko85ecko posted:
I always print off reports monthly, list setups and keep a record of times when my emotions almost got the best of me, which in turn help me hold myself accountable and stay focused.

Good point about the accountability! I like your approach of always having data for easy reference of the past performance.

It is not easy to organize your Forex trades. How to know if you have missed in organization:
1. Made a lot of losses. Missed opportunities
2. Mistakes in risk management
3. Giving away too much profits

Bohdan73 posted:

ecko85ecko posted:
I always print off reports monthly, list setups and keep a record of times when my emotions almost got the best of me, which in turn help me hold myself accountable and stay focused.

Good point about the accountability! I like your approach of always having data for easy reference of the past performance.

Exact!..
However, I think evaluating Forex results, a recipe for success see the results of Forex trading and how the evaluation of your Forex results will help you improve your trading skills and Forex trading plan. Learning investment skills, evaluating Forex results and developing a trading plan are excellent ways to achieve higher return rates on your invested money.

Darren72 posted:
It is not easy to organize your Forex trades. How to know if you have missed in organization:
1. Made a lot of losses. Missed opportunities
2. Mistakes in risk management
3. Giving away too much profits

The lost opportunities are a real headache, especially when in commerce, after letting a great opportunity pass, there comes a 'down' of those beautiful lines. I do not know if I explain myself well, but the opportunities have to be hunted, taken and not let go

TiffanyK posted:
Setting alerts can be helpful, but I haven’t yet heard of an application that keeps your trades organized. Maybe the solution will be if YOU become more organized and then you will find a way to apply it in trading. 😀

I agree with you!..
However organizing your workspace and enjoying an orderly environment that will help a lot when investing in currency trading.
That way you will succeed. 😀

Lack of organized trading structure can result in missing opportunities, giving up huge profits and risk management mistakes. These mistakes kill the trading systems. In order to become an organized trader firstly you need to plan your trading. Secondly, set proper times to trade and stick to that. Build a risk management strategy, use journals to maintain your trades. Taking notes of the major news, events or ideas can also be helpful. Very little time spent in organizing your trades can enhance your trading potential and bring about fruitful results.

@hjacob Working in an organized way is the support arm of the merchant. Only in that way can one have good management.

mario123 posted:
@hjacob Working in an organized way is the support arm of the merchant. Only in that way can one have good management.

Yes absolutely, that’s why I said without proper organized trading structure there would be lot of discrepancies and all the problems one like lack of management would easily creep in. Simply organizing and planning everything beforehand can help one avoid all these issues.

Maybe all of us heard this before, but “ work smart, not hard”. If your work is organized – you can easily follow up with everything you do, but other way around – you have to waste a lot of energy and nerves just to see at which point of your plan you are at the moment..

It’s been rightly said,”a minute spend organizing is an hour saved in future. You can organize your trading in multiple ways:

• Track every single one of your trade and find ways to get better.
• Focus and understand the types of trading and choose your own trading style. It will bring a great chunk of simplicity around your forex trading.
• Test your trading strategy before implementing. Testing brings a lot of confidence in a trader.
• Build a risk management worksheet which you can go through before placing a trade
• Maintain a trading journal

darrengreg posted:
It’s been rightly said,”a minute spend organizing is an hour saved in future. You can organize your trading in multiple ways:

• Track every single one of your trade and find ways to get better.
• Focus and understand the types of trading and choose your own trading style. It will bring a great chunk of simplicity around your forex trading.
• Test your trading strategy before implementing. Testing brings a lot of confidence in a trader.
• Build a risk management worksheet which you can go through before placing a trade
• Maintain a trading journal

I agree about the importance of simplicity in trading. The more simple the better organised in this case

GFernandez78 posted:

darrengreg posted:
It’s been rightly said,”a minute spend organizing is an hour saved in future. You can organize your trading in multiple ways:

• Track every single one of your trade and find ways to get better.
• Focus and understand the types of trading and choose your own trading style. It will bring a great chunk of simplicity around your forex trading.
• Test your trading strategy before implementing. Testing brings a lot of confidence in a trader.
• Build a risk management worksheet which you can go through before placing a trade
• Maintain a trading journal

I agree about the importance of simplicity in trading. The more simple the better organised in this case

true that! always keep it simple. the golden rule to be successful in Forex trading

I agree. The more you complicate things - your strategies, your indicators, the amount of instruments you trade, etc. the more mistakes you will make.

hjacob posted:
Lack of organized trading structure can result in missing opportunities, giving up huge profits and risk management mistakes. These mistakes kill the trading systems. In order to become an organized trader firstly you need to plan your trading. Secondly, set proper times to trade and stick to that. Build a risk management strategy, use journals to maintain your trades. Taking notes of the major news, events or ideas can also be helpful. Very little time spent in organizing your trades can enhance your trading potential and bring about fruitful results.

@hjacob Thanks for your advice. you made it very clear. just wondering how do you keep a journal?