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    Thread: Do you journal your trades?

    1. #31
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      Default Re: Do you journal your trades?

      A journal is a book that we do recording or entries if the activity that we are engaged in, this is why keeping a journal for our work is important so that we can remember certain events and circumstances that happened previously, pie brain cannot remember some things easily, it is when we have a good record that we won't forget.

      A trading journal is the book to has all the information about all the trade we have taken and the mistake that we have made, we should understand that a trading journal is not supposed to be capturing only the good part of our trading experience, it should capture both the profitability that we experienced and the losses too, this is what we will now use to trade profitably and avoid some errors from previous trades.


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    3. #32
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      Default Re: Do you journal your trades?

      Journalling your trades can really be helpful in developing or improving your trading ability and as such improving your trading results. I have a trading journal in which I do journal my trades. A trading journal is very useful, the reason for this is that the human brain cannot store too much data for a very long period of time, there would be a time where you would forget some of your previous opened market and how the market reacted then. But if you always journal your trades you can always fall back to your journal to remember that previous trade and see if it's a similar situation in the present so that you can know the best option to take.

      Journalling your trades helps you to spot market repeater easily. We know that the forex market do repeat itself, so when you journal your trades you would easily know when a market is repeating itself base on your past records and as such you would be able to make maximum use of such opportunity. Having a trading journey helps a trader to monitor his trading activities closely and this would make him detect quick whenever he is going astray in the forex market.


    4. #33
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      Default Re: Do you journal your trades?

      I always journal my all traders. Because when I make analysis about a market then I post on my mt5 journal about my thinking of the analysis. Here many expert trader suggest me lot and share their view about my analysis. And if their suggestion agree with my analysis it make me so much confidence and then I open my trade. After opening my trade I share with it on the journal. When I make mistake in my analysis then I get good suggestion from this journal. And I also get so manyinformation , learning from this journal. So I am ready to share my all trading in my journal. I get benefited from here. I like it and suggest all to journal your trade. It will helps a new comer in forex as well as u get good suggestion from the expert.


    5. #34
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      Default Re: Do you journal your trades?

      Yes, I do create a trading journal most of the time especially at the end of the week. During the week, I normally analyze the chart and record how it moved and the trades I opened. If the market moves against me, I will record why it moved in the opposite direction and this will enable me to learn from my mistake and never to make the same mistake when the same scenario presents itself. For example: during the weekend, I will open my charts and record the highest level and lowest level as well in other to know what to do if the market moves the same way again. So having a journal enables the trader to learn from his mistakes and improve on his trading strategies but a trader that doesn't have a journal will hardly improve on his trading strategies. That is the fact.


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