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Keeping track of your trades.
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Its very important to keep track of your trades. How else can you determine if and why you are making or losing money especially if you are  an active trader. It also helps with setting goals.

I keep a daily summary in a day timer ( as well as on an excel sheet).

In it I keep track of my pre-trade balances for the start of the day for both my RSP and TFSA account .
Total amount on the left and what I hold as cash in it on the right.

I keep a separate breakdown of my RSP and TFSA trades on the page.

I log the buys and sells and keep a monthly track of my trades. (I ended January with 120 trades.)

When I get my confirmations from the Broker of my trades I check mark next to the trades. (Sometimes the broker overcharges me on the commission. (This hasn't  happened for some time now.) A few times the confirmations never made it and I called the broker to resend a copy.

I do a tally at the end of the day of the net sales, number of trades plus the commission costs.

I also write down how the markets (TSX and the Venture) did for the day
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I also keep a weekly summary of:

Net Sales,
# of Trades and
Commission costs.

As well, I do the same for the end of month results.


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In addition I keep track of my trades on an excel sheet.

My Day Timer is a handy reference for how I do each day but would be cumbersome to start looking for older unfilled trades.

The Excel sheet is a life saver to find older trades.

I highlight in yellow any unfilled trades as well as the day's filled trades. At the end of day I can then remove the color on the filled trades.

At the start of the next day I can easily see my unfilled trades.

Now with the Excel program I can rejig the sheet to show all my trades by stock symbol so that at anytime I can see what my trade results are for any given symbol. Am I making money or losing and to what amount.

I have a spread sheet for my RSP and TFSA trades yet I can still tally the results for any symbol from both sheets.  




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Related Post:



Why I trade penny stocks part 9

Why I trade penny stocks part 10

WhyI trade penny stocks Part 11
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Thanks for checking out my page. Red Mars

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