Trading Software and Books Reviews

Stock Market Logbook Review

I applaud anyone who goes to the trouble of encouraging people to think about investments and who provides tools to evaluate the strategies used to manage such investments. Mr Mills says Stock Market Logbook is educational; but I would caution that there is need for a reasonable amount of study before using this book, or, for that matter, before entering the markets.

Stock Market Logbook is designed to be a workbook/diary for the year and provides spaces where the trader/investor can fill in appropriate details on allocations, buying, selling and the general flow of money. It appears that the author hopes that people will buy a fresh book each year; I suggest that it may provide excellent templates for spreadsheet workbooks for the dexterous and computer literate.

I showed Stock Market Logbook to broker colleagues and they were delighted with the concept and with the layout, suggesting that it would help their clients to have a clearer understanding of how their accounts are managed.

If you have money in the market and have never seriously thought about how all your investments sit together, this could be a most valuable tool – provided you have done the homework elsewhere to understand the potential consequences of your decisions. At the very least, with the planning section completed, you can talk more knowledgeably with your financial adviser. At the end of the year it will certainly help answer those tricky questions the accountant always asks.

This article was originally published in the Sep/Oct 07 issue of YourTradingEdge magazine (www.YTEmagazine.com). All rights reserved. © Copyright 2009, MarketSource International Pty Ltd.

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