Why should I keep a cashback forexrthanhcong.com">cashbackforexprofitcalculatoref="https://www.giaimatraderthanhcong.com">cashbackforexpipcalculator log? Keep cashbackforexcalculatorOnlineg a journal? Isnt that something you only do when stupid high school girls are stupidly obsessed with stupid high school boys? Hell no! Well, not necessarily ...... high school girls keep journals Traders Record Trading Journal two things! Get it right! For performance or goal-oriented traders, keeping a journal is a very important thing The key is that it helps you measure, track, cashback forex calculator Online improve your performance World class athletes keep a journal to help them get higher, faster, and stronger in track or field Scientists keep a journal for new discoveries Traders keep a journal to make money Making money is simply Its about being principled, consistent, and most importantly, profitable A principled trader is a profitable traderSticking to a trading log is the first step in establishing principles It sounds simple, but actually getting started can be difficultIn fact, many traders give up keeping a log after a while and rely on the logged trades provided by their broker The logs or trading histories provided by brokers can provide you with The log or trading history provides you with a small amount of information, but it doesnt tell you why you entered/left the market which doesnt help you with the rest of your trading zero none none The trading log isnt just about noting your entry and exit prices and trading times The trading log helps you improve your skills and master your trading philosophy More specifically, it has to do with your mood swings before, during and after trading nbsp;For example, you are long the USD/JPY trade approach but your gut tells you the trade wont work but you remind yourself, "I dont think this trade will work but Im going to follow my trading plan, so Im going to trade" Halfway through the trade, the price reaches the point where you set a stop loss You think, "Geez the trade doesnt look good I knew it why didnt I trust my instincts? Im such an idiot! Im going to get damaged! Im going to get out right now" you decide to close the trade a few moments later, the price is pointing straight at your target price If you had stayed in the trade, you would have made a lot of money thats why you keep a trading journal This is a classic case of what happens to many traders we dont stay in the trade We fail to follow the We failed to follow the trading plan and more importantly, we failed to control our emotions in the middle of the trade! If you trade like that all the time and you dont keep a trading log, your trading account will be zero before you realize your mistake Five reasons to keep a good trading log Most expert traders keep a trading log and review its contents from time to time Do you know what most expert traders are? Even though some of them dont admit it...... theyre pros! They have money they have cars they have clothes they have ice we may be exaggerating a bit but just a little bit Besides taking you to the professional level, keeping a journal has other benefits...... positions you and your life situation towards the goals you set in your trading plan nbsp;Identify your strengths and weaknesses in dealing with stress Provide a way to train and improve yourself The last sentence is the most important because every visitor to Global Forex and Wall Street traders take a different path Not everyone has earned a masters or doctorate degree in mathematics, computer science, financial engineering, or some such discipline, and then This means we have to learn from scratch how to trade and how to develop our own trading methods Fortunately, thanks to the Internet and trading forums, we can learn and meet like-minded people, whether they are new or experienced, who can help us shorten our learning curve. Even so, most of us have difficulty getting in touch with the opportunity to learn trading examples and techniques quickly and effectively: having a coach or mentor a coach or mentor who can lead you every step of the way, point out your mistakes, spot what youre doing well, get you to follow the principles, and have consistent performance New traders have a hard time meeting competent mentors, so we look for the best Alternative: self-teaching through a trading journal A well-kept, well-documented trading journal is just as good as having a coach who is watching behind you and teaching you Keeping a trading journal may seem a bit boring and a waste of time, but traders learn more by reviewing a trading journal than they gain by reading books and attending seminars After a while, the amount of the trading journal will increase, and if A detailed record of everything that happens when you trade (psychology, market environment system maintenance tools, etc.), you can learn a few important lessons, such as: Those news events to avoid How much risk should be involved in each trade When you should enter and leave the market In addition, your ability to keep a trading log will predict whether you will be successful in trading nbsp;Five things you must record in your trading journal The answer to this question is simple ...... every thing ！！！！ You write down every single thing you think and do before you start trading, during trading, and after trading Trading is a performance ability, and no matter what trading style and method you use the results are determined by your ability to analyze the market environment, create a plan or method, execute the plan, and luck There are many variables that lead to success, so you have to write down every single thing For traders, this means keeping track of: who you are and what motivates you to trade To find the right trading approach that works for you, you need to know who you are, how you live, and why you do what you do market views and philosophies How you understand structuring the market, how you make actions i.e. decisions, managing risk in your account Market WatchIn the market, every day is different, which doesnt mean you dont have definite "trends" and "behaviors" that you can use to find these "trends" with careful and consistent observation "If the environment changes, you need to keep up with the situation and change with it Trading mistakes and missed opportunities Mistakes and missed opportunities can be as serious to your success as the market turning away from you Closing trades too early, not taking orthodox setups, entering at the wrong entry level or point, etc., should all be recorded in your journal To avoid making the same mistakes in the future performance data your trading performance will mostly be reflected in the data it truly reflects your performance these data dont lie sometimes reality can spur you on all told, sounds like a lot so to get you started easy, here are a few of the "must include" points in your trading journal that you should at least remember To include" elements Before we publish our list, we want to point out that it should be included in the trading plan We are simply providing you with this list so that you can understand what you know should be included in the trading plan, but you dont have to follow this list exactly Here is the trading log 5 elements that "must be included" in the trading log: 1. potential trading areas 2. entry triggers 3. position sizes 4. trade management rules 5. trade reviews again, its up to you its your s trading journal just like your character in Warcraft, you make the trading journal you see fit remember, you are the one who will benefit from the journal therefore, jot down what you think will benefit you the most potential trading areas every trade you make should be justified this is also known as logic or fundamentals you are not a wild man or a gambler, are you? Why did you choose to enter in this area? This area is determined by the setup detection method you wrote down in your trading plan, no matter what method you use such as the intersection of two moving averages or price resistance at the Fibonacci retracement your trade area is between the current price and the entry price we highly recommend that you take a screenshot of this area on your chart to make it your habit when you When you review your trades, being able to visually see what has changed will help you practice your eye for possible opportunities or avoid pitfalls when actually trading with charts This will help you remember why you entered the market or make you aware of things you missed The potential trading area is where you think you will have an advantage, that is, where you have a high probability of success and a favorable reward/risk ratio. You must decide for yourself how you want to achieve this When you sit in the chair in front of the screen, you are "ready" to trade the potential trading area is where your "target" is This will allow you to trade when Avoid making haphazard decisions without a plan
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