I used to keep my trading journal in Excel spreadsheet for years. Well, it serves the basic need, however it is time consuming and somehow, inefficient, when the number of record grows over time. And trying to find an effective way to link each trading record to screen shots is always a pain.
I started looking around for a better money management tool. I realize my time and energy should be spent on better things rather than the spreadsheets. There are a couple of money management tools in the market however, most of them are designed to serve stocks traders. Specifically, I need a money management tool for Forex trader.
I was introduced to Forex Smart tools by another trader in our private trading room. I was impressed, since then, it has been part of my trading business. Forex smart tools consists of 2 applications, Forex Calculator and Forex Trade Log.� Calculator is meant to use for trade preparation, while Trade Log is for trading journal and logging. Instead of writing a lengthy post to introduce the tools, have a look at the introduction video below.
Bottom line, if you are taking your business seriously, this is an essential tool. Serious traders know just how important it is to keep track of your trading records and journals. I am using it in my trading, and I would recommend it to all serious Forex traders.
You can find more details of Forex Smart Tools here. If you are interested in trying out the application before purchasing, a new lease/installment plan at $25/month is now available.
In addition, an extensive video library is available to help user to get started with the tool and learn more about money management skills. Here is the snapshot of the video library.
Check it out. To me, it is indeed a great tool.