What is Bookkeeping?
Bookkeeping is simply keeping track of all the money coming in and going out. Businesses use it to record their income, expenses, and profits, but traders can use it too. In trading, bookkeeping means recording every trade you take—wins, losses, fees, and even your emotions during the trade.
How to Apply Bookkeeping in Trading
Record Every Trade: Write down details like:
1. The currency pair you traded.
2. Entry and exit prices.
3. Stop loss and take profit.
4. Win or loss amount.
The reason for taking the trade.
Track Your Emotions: Were you confident, scared, or overexcited? Noting this down helps you spot patterns in your mindset.
Review Weekly and Monthly: At the end of the week/month, check your stats:
What’s your win rate?
Which setups work best for you?
Are you making more than you’re losing?
How This Improves Trading
Identifies Strengths & Weaknesses: You’ll see what works and what doesn’t.
Stops Emotional Trading: Tracking emotions helps you avoid revenge trading.
Helps Adjust Risk Management: If losses are too big, you’ll see it early and adjust.
Increases Consistency: The more data you have, the easier it is to refine your strategy.
A simple trading journal (even in a notebook or spreadsheet) can make a big difference over time.
As for me I do all my book keeping in notion
Bookkeeping is simply keeping track of all the money coming in and going out. Businesses use it to record their income, expenses, and profits, but traders can use it too. In trading, bookkeeping means recording every trade you take—wins, losses, fees, and even your emotions during the trade.
How to Apply Bookkeeping in Trading
Record Every Trade: Write down details like:
1. The currency pair you traded.
2. Entry and exit prices.
3. Stop loss and take profit.
4. Win or loss amount.
The reason for taking the trade.
Track Your Emotions: Were you confident, scared, or overexcited? Noting this down helps you spot patterns in your mindset.
Review Weekly and Monthly: At the end of the week/month, check your stats:
What’s your win rate?
Which setups work best for you?
Are you making more than you’re losing?
How This Improves Trading
Identifies Strengths & Weaknesses: You’ll see what works and what doesn’t.
Stops Emotional Trading: Tracking emotions helps you avoid revenge trading.
Helps Adjust Risk Management: If losses are too big, you’ll see it early and adjust.
Increases Consistency: The more data you have, the easier it is to refine your strategy.
A simple trading journal (even in a notebook or spreadsheet) can make a big difference over time.
As for me I do all my book keeping in notion
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.