What are the best record-keeping practices for options trading?
An example of an AI chatbot conversation about record-keeping for options trading.
What are the best record-keeping practices for options trading?
It's essential to maintain detailed records of all your trades, including dates, prices, and strategies used.
Should I track my commissions and fees as well?
Yes, tracking commissions and fees is crucial as they can significantly impact your overall profitability.
Is there any software you recommend for this?
Many traders use software like TradeLog or Excel for tracking, but it depends on your specific needs.
How often should I update my records?
You should update your records after every trade to ensure accuracy and to help with performance analysis.
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