WARNING FOREX OPERATIONS REPORTING IMPORTANT PROMOTION CONDITIONS
Many start-up traders believe that in order to succeed they need to be constantly aware of all the events to have a thorough knowledge of technical and fundamental analysis skills, to follow the news release, not to violate trade rules such as trade against the trend, not to be subjected to emotions, etc. And completely forget about the accounting, which directly shows the effectiveness of data in the bidding. It seems to them, the result is visible in the state of the deposit, if it increases, then everything is going well, if it decreases, then everything does not go as it would be desirable.
Controlling transactions on Forex In the first place, this reporting is aimed at identifying the places where, according to your calculations, your position has not been followed and the objectives are aimed at avoiding them in the future. Identify the entry and exit points of the market to determine the percentage of the amount on your deposit that you could risk and how much you might lose, as well as earn from the committed transaction. This gives the percentage of winning and losing deals, as well as the difference between losses and profits. All this just needs to be known in order to make some adjustments to its strategy aimed at increasing the deposit.
Procedure for reporting on transactions
The first thing you need to find the optimal entry point in the market is to check its reliability by conducting a technical analysis to determine the probable exit point on which you want to close the transaction, all this should be recorded in the report, why you consider it the exact way. Should not open unreasonable deals, or based only on news and forecasts, they may differ from the direction of the trend or will be reflected in the market after some time. In this market you can rely on someone else's thought more than your own opinion can take note of what can happen. Upon completion of the operation, it is necessary to write a conclusion on the concluded agreement, it is necessary to determine whether certain goals have been achieved, the trees have been damaged and what should be done to avoid them.
It is desirable to keep track of the reports every day at a certain time, which contributes to the improvement of discipline, after some time this process will become a habit as part of your day. Transaction reports should be divided into daily, weekly, monthly, and annual, which will give a more complete picture of your activity in the Forex market.