What Is A Trading Journal?

[moonchild]

As trader, everything is about probability and you make decisions must of the times, sometimes on the go, sometimes you make Calculative decisions.

Before the advent of trading journal, everything just comes on top of the head, you just execute a trade and when you exit a trade that's all.

Trading Journal solved the problem, because today, with a trading journal provides a comprehensive way you can record your executions, your losses, your wins and many more little details that really matters and can impact your trading career.

Many traders recommends using a software to input everything and save it on the cloud, but what works practically is having a real hard notebook that you can input data in real time.

There are many trading journal books you can get from Amazon, under $10, that are really helpful and everything is planned out for you, all you have to do is insert the information.

In a typical journal, you record your entry price, your stop loss price and number of pips and also your exit price, this will help you to picture the trade you took and your thoughts process when you entered the trade.

As a beginner trader is a good skill to have from your early days

 

[Setho]

We have always identified that the discipline is one of the most important things to consider whenever it comes to making money in the forex market . It is also very good that you should be making informed decision which is part of the discipline as well and that is going to ensure that you are not going to be guessing but instead you are going to do research and have a reason for every position that you are going to open .

One of the ways of ensuring this is by having a trading journal which is going to be documenting your journey across the financial space .

You should be able to write the price in which you enter the trade and the price in which you exited then you are going to calculate your percentage loss and your percentage gain as well .

The aim of everything is that at the end of the week or the end of the month you should be able to know how many trades you want and how much you made or lost in general.

Your trading journal is going to be containing some information like the number of trades that you have opened within a particular amount of time