Trade sheet  – Professional Forex trading:Master class with full analysis

Trade sheet – Professional Forex trading:Master class with full analysis


Hello, dear traders! We will update the course with the trade sheet that we are using in the academy for the professional traders. Actually I think it will be very useful for you, as well, for all of the students that are trading with the system for the course. Actually you can use this trade sheet for every system that you’re using. The idea is that you write down the most important thing of every trade that you take. And after that at the end of the week or the end of the month just take for yourself 10 to 15 minutes. These are the most important minutes in trading, guys, sit down, look at your sheet, look at your trade sheet and your results and see the mistakes you’ve done. This is essentially important for every professional trader. So, let’s say this is my trade sheet from the trade that I took in this course, during the course to show the live example with the trade and you need to write down your Chart Period. So, we were executing it H1. What is the currency we’re using EURNZD, right then you need to calculate your risk, so let’s say we did a maximum of 2% of risk. OK? What was your reward that you were looking for? So, basically is the Take Profit. And then what is the initial risk reward. So, this is the risk divided by the reward. OK? And then what time exactly you took this trade? What hour did we buy or did we sell? Yes, we bought in this case. What lot size did you trade it? What price exactly you have entered? And what was your Stop Loss and what was your Take Profit? OK? Then right here this is one of the most important, so this is basically like statistics here. But here is the setup. So, you can say “I was with the trend, I had the support below and I have the counter trend line. OK? And what was your trigger? You can’t say first of all, one trigger, two trigger, depends on what actually, you entered on trigger, when you trigger it. So, you can say the “Cross of the counter trend line” and here you can describe any other information. So, you can say there were the hot economic news. So, I waited a little bit, just a few words to remind you what happened. You can say, I waited for the news. OK? Here below you can actually insert any picture from the moment when was your trigger, when you entered. So, I have taken here a few pictures from this trade and here it is. So, you put your picture and this way you will remember what exactly happened, so you could see here was this failure of the recent low. The counter trend line was broken, this recent high was broken, as well. So, you describe it over here in the text with details, the more details you put as better. But, guys, don’t spend like hours on that. Ok? This should be very quickly like you do it for 2, 3 minutes and don’t waste too much time on that because I had this student who was writing like 2, 3 pages over here, he was wasting nearly one hour to describe this trade. Don’t do this. All you need to do is just simple sentences, simple words to remind you exactly and when you put the picture obviously it will remind you what have happened. With other actions you can describe what happened after that. OK? So, you can say that you trail the Stop Loss. Or you took your first Take Profit. OK? What date, what time. What was the Stop Loss, did you trail the Stop Loss? What was the risk? How much profit did you lock. OK? And here again you can insert another picture. So, this will make it easier for you. So, right this one over here. You can see, I have taken the Take Profit here, my Stop Loss, where I have moved the Stop Loss. So, you can describe it all here and at the end is the trade exit. How long was the trade duration. So you can say, for example, it was 48 hours. I’m just writing it randomly, guys, I’m not going to calculate it now and Date, Time, what time, what date did we buy or did we sell. So, if we bought now, we shouldn’t be selling, right? Which assets, the lot size, entry price of the trade. And what was the exit price of the trade. So, pips and how much was your profit at the end of the day. This is the one that is important, right? So, I will put it right here. And I will suggest you if you on profit you put it on green, if you’re on loss, put it on red and I hope that you will have more greens than read. Follow the system and I’m sure you will have more greens at the end. The important thing here, guys, is this red line over here. OK? Lessons learned, of course, here are the Reasons for exit, so you can say my last Stop Loss was hit. And what was the lesson learned? Sometimes there is no lessons. Obviously, if you strictly follow the system you can just write down, I follow it strictly and my Stop Loss was hit, then it happens. OK? You move on, don’t expect you will always make profits. Obviously, they will be losing trades but if you have made mistakes, so here I will put the last picture, as well. OK? We need to have the final picture. Like what happened at the end of the day. This was what happened and entered over here, we took some profits. Stop Loss was hit and the price continued lower. So, here you should put your mistake. So, let’s say here was missing this failure of recent low, but you enter on the counter trend line, so you will say “I missed to see that there was no fail of a recent low” and basically this is your lesson that next time should be very careful when you enter into the trade. And that’s pretty much about it, guys. We enter all information possible we can for the entry, for the management and for trade exit. We put these pictures and again I say at the end of the week or at the end of the month I make my traders to do it at the end of the week. Sit down for 10 minutes alone by yourself. Look at all your trade sheet. Put them in folders and you will see with the time that you will make less and less mistakes. And of course this trade sheet you can use it for any other system you’re using one Forex or on whatever you are trading. Simply, it is very professional to do that because you cannot remember everything you have entered in. You will see it on the charts, you will see it in your statement. But why did you enter this trade? What happened? How did you manage it? You will not remember, if you don’t put it in the sheet. OK, guys, I hope it will be useful to everybody and just try it and you will see that you will improve, actually your trading. Thank you, guys, for watching. Bye.