Here is a hard truth: most traders lose money. Studies show that around 70% to 90% of retail traders end up with less money than they started with. But there is one thing that separates the winning traders from the rest. They track their trades.
of retail traders lose money according to broker data
Why Most Traders Fail
The main reason traders lose money is not because they picked bad stocks. It is because they keep making the same mistakes over and over again. They do not learn from their losses because they do not track what they did.
Think about it: Can you remember every trade you made last month? What about the reasons you entered each trade? What about the emotions you felt? Most people cannot. And if you cannot remember, you cannot learn.
What Tracking Your Trades Does for You
1. You See Patterns in Your Trading
When you track your trades, patterns start to show up. Maybe you always lose money on Monday trades. Maybe you do better with tech stocks than healthcare stocks. Maybe you hold losing trades too long. You will never know these things unless you track them.
2. You Stop Making Emotional Decisions
When you know you have to write down why you made a trade, you think twice before clicking buy. This simple act stops you from making trades based on feelings instead of logic.
3. You Learn What Actually Works
Everyone thinks they know what trading strategies work for them. But the data often tells a different story. Tracking shows you what really makes you money.
Real example: One trader thought his iron condors were his best strategy. After tracking for 3 months, he found out his win rate was only 45%. His simple put credit spreads had a 72% win rate. He never would have known without tracking.
What Should You Track?
At minimum, you should track these things for every trade:
- Entry date and price: When did you get in and at what price?
- Exit date and price: When did you get out and at what price?
- Profit or loss: How much money did you make or lose?
- Position size: How many shares or contracts?
- Strategy: What type of trade was it?
- Why you entered: What was your reason for taking the trade?
- Why you exited: What made you close the trade?
How to Track Your Trades
Option 1: Spreadsheets
You can use Excel or Google Sheets to track your trades. This works but it takes time. You have to enter every trade by hand. Most people start with this method and then give up after a few weeks because it is too much work.
Option 2: Trading Journals
Some people use notebooks or apps to write down their trades. This is good for capturing your thoughts and emotions. But it is hard to see patterns without doing math.
Option 3: Automatic Trade Tracking
The easiest way is to use software that connects to your brokerage and tracks everything for you. Your trades sync automatically. You see charts and stats without doing any work. This is what Pro Trader Dashboard does.
Track Trades Without the Work
Pro Trader Dashboard connects to your brokerage and tracks every trade automatically. See your win rate, best strategies, and patterns in your trading. No spreadsheets needed.
Start Today
You do not need fancy tools to start tracking. Even a simple notebook works. The important thing is to start. Every trade you do not track is a lesson you might miss.
If you want to make tracking easy, try our free demo to see how automatic trade tracking works. Or read our other guides about credit spreads and options vs stocks.