What is a Traders P & L ?

[xearvigu]

Hi All ,

Can any body plz advise me on how Traders or Trade Assistant do maintain & record their Daily P&L on T or T+1 basis, How does it look like (Format)? as well as what r d items or particulars of transactions thats recorded in the P&L. Is it somthing same as that of a normal P&L account maintaind by d corporates / industries by posting the items of expenses into Dr. & Gains into Cr. side of A/c. I have heard abut this Traders P&L many times, but Im really confused n d same. Also I would highly appreciate if u culd explain me abut Balance Sheet Valuation.

Please advise.

Many Thanks,
Vigu

 

[v1per]

Hi,

I think you are thinking too deep into this area. As a newbie, all you need to worry about is keeping a journal (spreadsheet) and entry and exit prices. That will then derive a p/l for that particular trade.

This is end of day sort of stuff (when you have suspended trading for the day) so I am sure you wll want to have some sort of life in the evening rather then spending time entring data into vast amount of cells in spreadsheets!

 

[xearvigu]

Hi,

Thanks a lot, for your quick response & kind guidance. I was really very confused on this topic now Im much clear.

Regards,
Vigu