Maintaining a Forex trading Journal - Good or bad

[kalex76]

I know the importance of doing trades with proper planning and if we have a trading journal with us then our trading will be good as well as profitable to us

of course its right that when we have a proper trading journal ,we can easily identify our strength as well as the weakness and like that we can improve our trading strategies with the time .

Traders actually should have the proper plan and experience to make an effective trading Journal.

 

[nitufx]

Nice Idea to maintain a Trading Journal for the future Reference so that if any Company or the Group or the Traders wants to Evaluate you .. you can show them simply.

 

[SanaFx]

Nice Idea to maintain a Trading Journal for the future Reference so that if any Company or the Group or the Traders wants to Evaluate you .. you can show them simply.

In the business of Forex trading we will get many such trading opportunities which we can make use of and get more profits

 

[radex78]

In the business of Forex trading we will get many such trading opportunities which we can make use of and get more profits

So many opportunity in this field as long as we can trade well and always safe trading this business still become very promising business as one great source of income

 

[carigentong]

Many trader make their own journal because they can easily manage their account also when they make a mistake, it can easily spotted so they can make better trade in future. This is very important for all trader to mae a traidng journal

 

[daytrader]

The reasons I like to journal are:

1. Track profitable strategies through tagging.
2. Track my most profitable instruments.
3. Track my historical pnl.
4. Track my fees.
5. Track my win ratio and profit factor
6. Track all sorts of performance charts like how well you did intraday, number of longs, shorts, wins, losses.
7. Record market events, psychology and emotional factors.

It might take a few days to make it into a habit, but once you do, you will be able to visually understand what you are doing, won't be second guessing your strategies because you will have hard evidence to prove what works and what doesn't.

As far as software, there are quite a few options out there. It depends on whether you want to use excel (hard to maintain and limited) like www.trarding-journal-spreadsheet.com or cloud solutions like www.trademetria.com.

 

[carigentong]

That good daytrader, by making journal we can get many benefit and can determine our strong and weakneses. This is important to make us having better strategy and skill to trade by making correction from our mistake and try our best to aximized our best trade

 

[kalex76]

If we can maintain a trading Journal ,we can definitely check the performance status properly and like that we can evaluate us that how we are going through the path of trading .

because when we are negative ,we can make that positive with strong will.

 

[novarisa]

If we can maintain a trading Journal ,we can definitely check the performance status properly and like that we can evaluate us that how we are going through the path of trading .

because when we are negative ,we can make that positive with strong will.

Agree, we can consider these losses as part of our experiences. Make sure to evaluate it well.

 

[kalex76]

When we are serious about making a proper journal ,we can judge our previous trading and point out the faults and can know the reasons of those so that we can easily rectify and make a strong strategy from which we can make proper progress with time and can become a strong performer.