Only a few traders do this nonetheless it can be useful to Just note the levels of the stop and limit orders that you set, even if they were not caused, and how close the price came to untriggered orders and how far it went beyond caused orders.
So if the trade was worthwhile, you would know how close the price came to causing your stop-loss before it headed back in your direction and you closed at a reasonable profit. You would also know how far it went beyond your limit order (how much more profit you might have made with a higher target). For a loss-making trade you may know how close the price came to your target profit before turning back and causing your stop. That info could be very valuable if you begin to have the impression that your system would do better if stops were further out, for example. You actually have the facts there to support your idea or prove it wrong.
Of course, you need info regarding a substantial number of trades before starting tweaking your forex trading technique. Never start messing with a system just because it was regarded as having a couple of losses in succession, or had a bad month. It’s best to have full information on at least a hundred trades, maybe more, before even beginning to consider looking out for a pattern in the losses.
Many traders waste a large amount of time looking for more systems and more trades, trying to increase their profits by finding additional rewarding trades. Actually you can do the same thing much more successfully by simply eliminating some of the losers. This may make all of the difference between profits and losses in the long term without requiring you to get a new foreign exchange trading methodology.
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