Keep the broker statements, all of them

[Fairman]

Keep the broker statements, all of them

Platforms store trade history, but not forever. Some brokers limit how far back the history goes, and an account closure can remove access completely.

For a scalper with thousands of trades, the statements are the only complete record. They hold the fill prices, times, commissions, and swaps that settle disputes and feed analysis.

A routine of exporting the history every month, to a safe place, takes minutes. The format should include the details, such as open and close times, prices, volumes, commissions, and swaps.

Statements are also useful in a dispute with the broker. A clear record of a bad fill, with timestamps, carries weight that memory does not.

Local record keeping rules for tax or business purposes may also require the data. Depending on the country, it can be needed for years.

Storing copies in more than one place, and labelling them clearly, prevents the unpleasant discovery that the history is gone when it is needed.

A small bonus is that statements make the review process easy. A monthly export into a spreadsheet takes a minute and keeps the record independent of any broker.

How often are statements exported, and is there a copy outside the platform?