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Registered User
Joined: 10/7/2004
Posts: 4
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Can I put in a discussion in the forum requesting ideas and or samples any form they have used for keeping records of their trades, giving data to study to improve my trading style, i.e, date, price quoted, days held,sold price, etc. Can I put my personal email address in the discussion for anyone to mail me a sample of what they use?
Ed Breliant
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Worden Trainer
Joined: 10/1/2004
Posts: 4,308
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You have already made the request for ideas by posting here. You are, however, prohibited from posting your email address. Replies will have to come through the forum. I'm sure you'll get some good information, and perhaps someone would even be able to post an image of the form they use for keeping track of their trades.
- Doug
Teaching Online!
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Registered User
Joined: 10/31/2005
Posts: 5
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QUOTE (EdBreliant) Can I put in a discussion in the forum requesting ideas and or samples any form they have used for keeping records of their trades, giving data to study to improve my trading style, i.e, date, price quoted, days held,sold price, etc. Can I put my personal email address in the discussion for anyone to mail me a sample of what they use?
Ed Breliant
Use the portfolio manager at MSN moneycentral it will all you to do all the above.
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Registered User
Joined: 10/3/2005
Posts: 6
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For financial recordkeeping I use Quicken and also have tried PRK (Portfolio Record Keeper). You can also use sights like MSN MoneyCentral or other to see gain/loss, etc...Quicken or PRK is very useful at end of year tax time, where you print out sold securities with cost basis and profit/loss.
For learning purposes, I use a "Trader's Spreadsheet" made in Excel or any spreadsheet program. I track about 20 columns of info pertaining to trade, from # shares traded, price paid, comission, fees, etc., to trade entry/exit grades. I also make use of a "trading diary" with printouts of charts with various indicators and notes as to why I entered a trade, profit targets, stop losses, etc..as well as printouts of charts on exits. These are very helpful at understanding and learning from your wins and losses.
I also utilize the ABC Rating system for review of my watchlist for better time management.
These techniques are all found in the book "Come into my Trading Room - A Complete Guide to Trading" by Dr. Alexander Elder.
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Registered User
Joined: 10/7/2004
Posts: 4
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Thanks bar2k and llglphil.
I am trying out MSN Porfolio Manager
lgphil, what is ABC Rating System? Whatis PRK? I will check-out Elder's book. I tried his software program three years ago, but it didn't work.
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Registered User
Joined: 10/3/2005
Posts: 6
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Maybe I should ask exactly what sort of records you are specifically interested in. Is it for trade tracking with gain/loss, percent gain/loss, cost basis and dollar gain/loss, etc....
These can all be accomplished with many on-line portfolio's. I still prefer Quicken, or Money, or PRK for tax reporting reasons. PRK is Portfolio Record Keeper, a software program programmed in Foxpro that records buys, sells, gain/loss, percent gain/loss, etc.... PRK compares your port's performance with indices, as does Quicken or Money. The main thing with Quicken or MS Money, or PRK, is it gives many reports not available through online sites. These are very helpful at tax time.
What software did you try of Elder's? I have a few indicators based on his methods. Does he offer software? Why did it fail for you?
I thought the main thrust of your question was not simple recordkeeping for gains/losses, etc...but for learning from mistakes and wins. This can only be accomplished from accurate recordkeeping.
Good luck!
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Registered User
Joined: 10/7/2004
Posts: 4
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lgphil,
I want my records to show all of the above. It will keep me informed on which source I use for picking, gains/loss records to detirmine if I am making money, and how much.
Elder's software program is now called Trader's Govenor. It first cme out about three years ago under the name of Trader's Organizer. You can view theis by going to www.elder.com - click on Products - Software - Governor. T.O. had some bugs in. ie, Buying the stock in the previous year and selling it in the current. I believe it might have been TOO sophisticated. I think it cost about 200.00. How was PRK? Where can I find it? I use Quicken for my check book. The stock portion doesn't give me all the information I want. Thanks for your prompt reply.
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Registered User
Joined: 10/3/2005
Posts: 6
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If you have a spreadsheet program, try entering columns for wahtever you want to track. Example is Columns 1)Trade Number 2) Entry Date 3) Long or Short 4) Ticker 5) Size-how many shares traded 6) Entry Price 7) Commission 8) Fee 9) Toal Entry Price X Size + Commission + Fee 10) Exit Date 11) Exit Price 12) Commission 13) Fee 14) Total Exit - Exit Price X size - Commission - fee 15)P/L or Profit/Loss calculated by spreadsheet formulas you enter
I left out several columns to simplify this. I also enter columns for Entry Grade, Exit Grade, and Trade Grade, as well as a few others. I use the "Insert Comment" of Excel to add notes about why I entered a trade based on TA, FA, etc...
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