I was wondering if Stockscafe could pull data together and amalgamate it into a document that can serve as a trading track record or for that matter a investing trackrecord.
Constructive thoughts please
Experienced traders please feel free to give some thoughts as to what else need to be included in a trading track record?
Philosophy I subscribe to
I believe that we should make a norm to document the reasons for your trade that would really help us to be accountable as for the reason why we made that investment in the first place
These are some of the titles i use on my excel sheet
- Trade Symbol: The symbol or ticker of the traded instrument (e.g., stock, currency pair, commodity)
- Trade Size: The size or quantity of the traded instrument (e.g., number of shares, lot size, contract size).
- Entry Price: The price at which the trade was entered.
- Exit Price: The price at which the trade was exited."
- Trade Date: The trade on which the trade was executed
- Trade Strategy/Rationale: A brief explanation of the trading strategy or rationale behind entering the trade, including any technical or fundamental analysis used.
- Market Conditions: A description of the prevailing market conditions or factors that influenced the trade.
- Notes/Comments: Any additional comments, observations, or lessons learned from the trade.
This is just a quick write up from ChatGPT about what a Trading track record is:
A trading track record typically includes information and data about an individual’s or entity’s trading activities. While the specific requirements may vary depending on the purpose and context, here are some common elements often found in a trading track record:
- Trade History: A comprehensive list or log of executed trades, including the date, time, security or instrument traded, quantity, entry price, exit price, and profit or loss for each trade.
- Performance Metrics: Key performance indicators (KPIs) that help evaluate the trading performance, such as total return, average return per trade, win rate (percentage of profitable trades), maximum drawdown (the largest peak-to-trough decline), risk-reward ratio, and any other relevant metrics.
- Time Period: The time period covered by the track record, indicating whether it is a monthly, quarterly, yearly, or cumulative record.
- Trading Strategy: A description of the trading strategy employed, outlining the approach, methodologies, indicators, or signals used for making trading decisions.
- Risk Management: Details about risk management techniques implemented, such as position sizing, stop-loss levels, profit targets, and any other risk controls or safeguards in place.
- Benchmark Comparison: Performance comparison against a relevant benchmark, such as a market index or an industry-specific measure, to provide context and assess the relative performance.
- Supporting Documents: Additional supporting documents, such as brokerage statements, trade confirmations, or account statements, that verify the accuracy of the track record.
It’s important to note that transparency and accuracy are crucial when presenting a trading track record. If you’re seeking professional advice or presenting your track record for investment purposes, you may also want to consider consulting with a financial advisor or compliance expert to ensure compliance with applicable regulations and best practices.
