{"id":9973,"date":"2022-10-14T06:59:32","date_gmt":"2022-10-14T06:59:32","guid":{"rendered":"https:\/\/mdr.foobrdigital.com\/?p=9973"},"modified":"2022-10-14T06:59:32","modified_gmt":"2022-10-14T06:59:32","slug":"summary-keeping-a-trade-journal","status":"publish","type":"post","link":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/2022\/10\/14\/summary-keeping-a-trade-journal\/","title":{"rendered":"Summary: Keeping a Trade Journal"},"content":{"rendered":"\n

Your trade journal<\/strong> is a log of all trading activity.<\/p>\n\n\n\n

A trading journal provides any serious trader who wishes to make money a tool to help them evaluate themselves objectively.<\/p>\n\n\n\n

There are three elements for sustained successful trading:<\/p>\n\n\n\n

  1. Having and executing a good trading PLAN.<\/li>
  2. Having a good trading system as part of that plan.<\/li>
  3. Review and improve your trading performance and plans.<\/li><\/ol>\n\n\n\n
    \"Trade<\/figure>\n\n\n\n

    Every forex trader should maintain a journal that focuses on these elements.<\/p>\n\n\n\n

    This journal\u2019s objective is to monitor both the performance of your trading system AND your ability to execute it with consistency.<\/p>\n\n\n\n

    Poor trading systems are less frequently the cause of poor trading performance than the inability of the trader to properly follow the rules<\/strong> of the trading system.<\/p>\n\n\n\n

    That\u2019s following the Trading Plan. Your trading journal is intended to make sure you do just that.<\/p>\n\n\n\n

    Journals are only as good as what is written in them. If one fails to accurately track trades, it becomes hard to judge trading performance.<\/p>\n\n\n\n

    This should be ongoing efforts, not just a one-off for the sake of completing an assignment.<\/p>\n\n\n\n

    \"No<\/figure>\n\n\n\n

    Be thorough and honest. Do not short-change YOURSELF by failing to put in entries or through incompleteness.<\/p>\n\n\n\n

    Learning to write and maintain a trading journal will build discipline in you.<\/p>\n\n\n\n

    Not only that, when you reflect on your entries after a month of trading, we guarantee you will learn a lot about yourself and your trading psychology.<\/p>\n\n\n\n

    You\u2019ll clearly see what you\u2019re good at, what you suck at, and what the best way it is for YOU to trade.<\/p>\n\n\n\n

    This is something that no mentor, no book, no video, no seminar can teach you. You have to experience it yourself. Only through this experience will you become a successful trader.<\/p>\n\n\n\n

    To build the skill of trading, you must have the will to maintain a trading journal.<\/p>\n\n\n\n

    \"Tips<\/figure>\n\n\n\n

    Here\u2019s some final advice for keeping a helpful trading journal:<\/p>\n\n\n\n

    • Always begin the journal before the trade, and end it after the trade.<\/strong><\/li>
    • Write down everything. Don\u2019t leave anything out. Be honest. If you decided to play Call of Duty while you were in a trade and forgot to exit your trade, write that down, and explain why.<\/li>
    • Pay very close attention to your emotions. Then make sure you write them down.<\/li>
    • Make sure the journal includes observations about you and your trading and about the forex market. We\u2019ve found that trading journals are usually skewed toward self-analysis and include little in the way of market observation.<\/li>
    • Take a screenshot of intraday charts of each day\u2019s action and write comments on them. Make note of patterns that you are watching<\/li>
    • After a couple of months, you will start to see the patterns emerging in real-time.<\/li>
    • A trading journal is a learning tool and a great mechanism for training your eye to see the setups you want to be trading.<\/li>
    • Nothing is too silly to record inside your journal. Write it down. Write down whether you missed a trade because you were watching the latest episode of The Crown or playing Call of Duty or you were busy talking to your sweetheart. Write it all down!<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"

      Your trade journal is a log of all trading activity. A trading journal provides any serious trader who wishes to make money a tool to help them evaluate themselves objectively. There are three elements for sustained successful trading: Having and executing a good trading PLAN. Having a good trading system as part of that plan. Review and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[867],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9973"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=9973"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/9973\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=9973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=9973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=9973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}