If you are a serious Forex trader from Asia, you should know and keep the whole statistics of your trading in the Forex market. It is very convenient to keep all records in an Excel table, which shows your results on the basis of all past transactions. The items listed below should be included in your trading statistics.
Here are the parameters that you need to list for each transaction in your report: time, type (buy, sell), lot, entry price, stop loss and take profit (optional), the price of output, swaps / commissions, profits in the deposit currency, pips, profit as a percentage of deposit.
The most important data is an income in the currency of the deposit (we can calculate the average profit per trade, a loss, profitability per transaction in average), the profit in pipss (very useful to observe the average number of pips you gain in a single transaction, as well as how many pips you accumulate only in profitable and unprofitable transactions), profits as a percentage of the deposit (the same parameters as the profit pips).
Amount of your balance after each transaction, it will be useful in the future for the weekly, monthly and annual statistics, as well as for creating of the statistic curve.
Based on the records of all transactions that you have in your statistic report you can see the following data: total return (the amount of money earned in profitable transactions), the total loss (only losing trades), net income (total income minus total losses). Next: The total number of transactions, which calculates the percentage of profitable and unprofitable trades. Also you can easily calculate the average profitable and average losing trades.
Naturally any Singapore Forex trader must make sure that the average gain is higher than the losses. However, it may be vice verse as well. You may see that your total loss is higher than profit, thought your total number of winning positions is higher than the total number of the losing positions. In that case you may assume that the profit percentage in your winning positions might be much less than the percentage of the loss in the negative positions.
The next parameter that is useful to the statistics table in the daily work is a calculation of risk for each transaction. As we have mentioned before, we will need a record of your balance after each transaction. You can use it the following way: you choose a percentage of risk for the current trading day and record it in a separate cell. The table shows the amount that you are willing to risk in the transaction as well.
As a result, with a change in the balance of your Forex trading account, you will see how to change your risk for each transaction, and follow this risk measurement in your Forex trading.
We recommend to experiment with different types of statistics, there is no need to use any automatic statistical data, all you need to do by yourself manually. When recording your Forex trading data, you may be sure that a comprehensive knowledge of your trading statistics will help you concentrate on those areas that need improvement in your Forex trading strategy.