Forex Tutorial
May 29, 2017

Do you use Excel tables for improving your trading?

I use something along the lines of what envid has stated above and to answer your query, yes – keeping a journal will help you streamline your trading. And a few websites will allow you to download a preset format [excel] which you can use or you can check this forum for other trader’s trading journal and come up with your own..
I use a spreadsheet to record my trades and a text document as a journal. The journal includes notes and observations and marked up charts.
I use OpenOffice, which is very similar to Microsoft Office and it’s free. It includes alternatives to Excel and Word.

 

Yes but would prefer the excel format, it works good, have not tried any other format for the moment. And maintaining a journal in word may not be advisable, when it comes to analysis..at least, that’s what I’d discovered when I started to keep a journal..

 

Yes- Excel has rarely improved my trading. I recorded all my trades in a excel format and try to make an analysis by using charts. It is also useful to test some new strategies.

 

You’re welcome and actually, the excel format is perfect for analyzing information – not just for fx trading and you can also use it to maintain your books, there’s just so much you can do with excel which you would not be able to do with Ms word..
And this is why you’ll see that most trading journals tend to be in excel format, with variations on cells..

Yes, the excel format is perfect when it comes to maintaining Journals..think about it, how would you enter all the day to day trades, movements, calculations in a word file? Where as the same can be entered very easily in excel and you can set it to carry out series of calculations..

Do a try- Excel has rarely very helpful when it concerns Forex trading. You will be able to keep a track of every single trade you make. After enough time, you’ll notice patterns appearing. You may notice that you’re always losing on a Monday, or you may be making poor trading decisions just before lunch when you’re feeling hungry. You may notice that you’re constantly losing on a certain currency pair, but also notice that you’re winning on another currency pair.

Without the use of a trading diary you may never even notice these patterns; however, by keeping track of all your trades in this way will enable you to eliminate the things that aren’t working for you and allow you to focus on the things that actually work. It’ll also be an invaluable tool in helping you avoid making mistakes more than once.

CONVERSATIONS