Trade Documentation

To truly gauge how successful you are as a Trader, particularly when trading Crypto with multiple currencies, it is imperative to keep good accurate documentation.  

There are a variety of reasons why good Trade Documentation is important:

  • Help to identify issues/refine a Trading Strategy and locate the types of trades that give you the most success/least success.
  • Identify Trading behaviour or patterns that are only obvious when looking at trade documentation
  • Help with Tax Minimization - (that's too big a subject to try and explain here)
  • Help with Risk Management - simply put: Strategies you have high success rate with you can consider increasing your risk on those strategies and likewise for strategies that you have less success with, you would consider reducing your level of risk.

Good documentation will bring about improvements to your Trading Results.

CryptoMates Client Mentoring sessions focus on Trade Documentation as it is an important foundation item for all Traders and as each trader is different, Trade Documentation needs to be created for each Trader.

A Real-Time Trading Dashboard is also an important Trade Documentation tool that will help you quickly calculate and understand your current risk profile, Risk to Reward Ratio (R:R) and other factors prior to going into a trade.  CryptoMates have built a Trading Dashboard that is available to clients (currently in final pre-release testing).

If you want good documentation for your Crypto Trades, signup for Crypto Mentoring and we can build that with you.