There are plenty of apps, platforms, and trading tools available for tracking your trades — but personally, I believe in creating your own solution. It’s simply more effective and, most importantly, more impactful.
Create your own spreadsheet in Excel, Google Sheets, or any tool of your choice.
The key columns to include are:
Trade date
Instrument
Position size (in number of contracts/shares and in monetary value)
Entry and exit prices
Result in % and absolute value
Stop-loss and take-profit levels
Risk-reward ratio (potential profit divided by potential loss)
Margin size (useful for trade planning)
Broker and exchange commissions
Comments (include reasons for entry/exit, emotional state, expectations, etc.)
Next, calculate and analyze the following performance metrics:
Win rate (% of profitable trades)
Average profit per trade
Loss rate (% of losing trades)
Average loss per trade
Once you’ve collected some data, you’ll begin to understand where you are and where you’re headed. Review your stats weekly, bi-weekly, or monthly depending on your trading style.
Statistics help you analyze your stop-loss efficiency (are they too tight or too wide, constantly getting hit by volatility?), and whether you're exiting too early (post-trade analysis is extremely valuable here — observe what the price does after you’ve exited the trade).
Focus on improving your stats.
As a rule of thumb, your win/loss ratio should be around 70/30 or better. Average profit vs. average loss varies by style, but aim for a 3:1 profit-to-loss ratio at minimum — for example, a 3% average profit vs. a 1% average loss. Ideally, you want 5:1. It’s absolutely achievable.
You can also analyze the extremes in your stats: your biggest winner, your worst loss — study them closely.
Trading is a tough business — but it is a business. There’s no magic here. It’s all about working on your stats and on yourself, just like in any other serious profession.
Wishing you success and continuous improvement in your trading performance.
Create your own spreadsheet in Excel, Google Sheets, or any tool of your choice.
The key columns to include are:
Trade date
Instrument
Position size (in number of contracts/shares and in monetary value)
Entry and exit prices
Result in % and absolute value
Stop-loss and take-profit levels
Risk-reward ratio (potential profit divided by potential loss)
Margin size (useful for trade planning)
Broker and exchange commissions
Comments (include reasons for entry/exit, emotional state, expectations, etc.)
Next, calculate and analyze the following performance metrics:
Win rate (% of profitable trades)
Average profit per trade
Loss rate (% of losing trades)
Average loss per trade
Once you’ve collected some data, you’ll begin to understand where you are and where you’re headed. Review your stats weekly, bi-weekly, or monthly depending on your trading style.
Statistics help you analyze your stop-loss efficiency (are they too tight or too wide, constantly getting hit by volatility?), and whether you're exiting too early (post-trade analysis is extremely valuable here — observe what the price does after you’ve exited the trade).
Focus on improving your stats.
As a rule of thumb, your win/loss ratio should be around 70/30 or better. Average profit vs. average loss varies by style, but aim for a 3:1 profit-to-loss ratio at minimum — for example, a 3% average profit vs. a 1% average loss. Ideally, you want 5:1. It’s absolutely achievable.
You can also analyze the extremes in your stats: your biggest winner, your worst loss — study them closely.
Trading is a tough business — but it is a business. There’s no magic here. It’s all about working on your stats and on yourself, just like in any other serious profession.
Wishing you success and continuous improvement in your trading performance.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.