How to Keep Track of Your Trading Performance


There are several reasons to track your trading performance. One of these is that you can use it as an accurate gauge of your performance. Track your transactions and emotions to determine which strategies are best suited for your goals. It is also important to note any losses or gains. Keeping track of your trading performance is critical to the success of your business. But even more important is the time you spend each day trading. Here are some tips to keep track of your trading performance.

Swing trading

Technical indicators are crucial to swing trading. In the simplest case, you would use the moving averages to determine support and resistance levels. These lines are the highest and lowest values of a certain timeframe. It is difficult to find accurate indicators that will work over the long term, but they are useful indicators for many swing trading strategies. Breaking through one of these lines can signal a new trend in a currency pair. However, this is not always the case.

Positional trading

In addition to intraday trading, positional traders make use of multiple types of trading strategies. These strategies are more time-efficient and require less effort than intraday trading. As long as you conduct thorough research before making a decision, positional trading may be the ideal choice for you. This type of trading style allows you to lock your capital in positions for longer periods of time. Positional traders also earn more money because they avoid the high risk associated with intraday trading.

Fundamental trading

Fundamental trading is a strategy that relies on company-specific events to predict price movements. It is associated with the buy-and-hold strategy and can produce significant profits over a short period of time. Other strategies rely on market trends and the interpretation of market reactions. Among these is the carry trade, one of the oldest fundamental trading strategies in currency trading. Its definition may seem complicated, but its concept is simple: a fundamental trader buys and sells a stock based on the company's fundamentals.

Forex trading

If you're considering a career in Forex trading, you need to understand the risks involved. The currency market is highly volatile, and there's always the risk that you could lose most of your money very quickly. That's why the CFTC has become very concerned about forex scams and fraud. Many of these scams are spread through word-of-mouth referrals, and often start out by asking for personal information or promising that the market won't go down.

Stock market simulators

Stock market simulators can make your life as an investor much simpler. These tools provide you with a platform for trading real money or paper money, as long as you have a working email address. Some of the best simulators have fantastic platforms and advanced features, so you can use them to perfect your trading strategies. Some stock market simulators turn into games with real prizes. Thinkorswim turns learning to trade stocks and options into a fun game.