BUT... IT'S RISKY !

Find Ways To Reduce The Risk

And that's why smart traders turn to the Forex Smart Tools

Trading Is Tremendously Competitive

Think about it...

For each trader that makes money... there is someone else losing money.

How do you place yourself on the winning side of that equation?

You have to be smarter than those other traders.

You need every advantage you can find.

And that's what's called "HAVING AN EDGE".

• It's the best way to see which strategies work and which fail
  
  
• A Trade Log is your own accountability coach
  
  
• Store your screenshots with each trade for later analysis
  
  
• You can easily compare currencies, sessions, entry triggers, exit plans, etc.

The following excerpt about using a trading journal is taken from Dr. Alexander Elder’s excellent book “Trading for a Living“.

Are you sabotaging yourself? The only way to find out is to keep good records, especially a Trader’s Journal and an equity curve. 

You need to become a self-aware trader. Keep good records, learn from past mistakes, and do better in the future.

Discipline means designing, testing, and following your trading system. It means learning to enter and exit in response to predefined signals rather than jumping in and out on a whim. And the first challenge on the road to disciplined trading involves setting up a record-keeping system.

Becoming a good trader means taking several courses – psychology, technical analysis, and money management. Each course requires its own set of records. You will have to score high on all three in order to graduate. Your first essential record is a journal of all your trades. 

Another essential record shows the balance in your account at the end of each month. Plot it on a chart, creating an equity curve whose angle will tell you whether you are in gear with the market.

Your trading diary is the third essential record. Whenever you enter a trade, print out the charts that prompted you to buy or sell.

Traders fail because of impatience and lack of discipline. Good records set you apart from the market crowd and put you on the road to success.