4 Reasons You Should Log Your Forex Trades

When you're trading currencies online, you've probably heard about logging your trades. While many traders do this, not everyone does it. There are four important points you should include in your trading log. Listed below are the reasons you should keep a trading log. Keeping a trading log is beneficial in a number of ways. Not only will you have more information about your trades, but you'll also be able to locate your charts more easily.

Keeping a trade log can help you better understand the impact of the Pareto Principle. Pareto's law states that only 20% of actions are essential to your overall success. This is why stock accounts only take up 20% of a warehouse, while sales staff and the rest of your workforce are responsible for 80% of your sales. By logging your trades, you'll be able to see which 20% of actions are making you money and which ones aren't.

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