As I was learning to trade, many of the forex educators whom I followed talked about treating forex trading as a business. At least, if you wanted to be a successful trader, that is what you should do.
This made sense to me and didn’t seem to be too much of a problem because I was running all my forex-related expenses and income through my business anyway. I was also quite passionate about trading so treated it quite seriously from the beginning.
However, just keeping track of overall expenses and income in relation to forex trading wasn’t enough. I wasn’t happy that everything was accounted for properly – there seemed to be a lot of “black hole” expenses and income that were related to my forex trading.
Now, this can be hard to explain to your accountant, but not being fully accountable for your trading also gives you an excuse (even if it’s subconscious) to trade flippantly at times. This is not a good thing when trading. I saw a pressing need to instill trading discipline and accountability into my forex trading regime.
Having developed and maintained accounting and ERP systems for hundreds of businesses over the last 20 years – I knew a thing or two about software management / tracking / accounting systems 😉 So I thought, why not develop a trading management system for forex trading?
That’s exactly what I did and it was a definite turning point in my trading career when I started using that system.
To be a successful forex trader you need to treat it as a serious business. All serious businesses use software tools to track their activities, forex trading shouldn’t be any different. As far as I know, Trade On Track is the only software tool of its type which assists forex traders in tracking, analyzing and enforcing discipline and accountability in their trades.
Use serious tools and Trade Seriously!