Everything You Need to Know About Trading Journals
Did you know that there is a simple and an effective way that helps to spot your mistakes while making trading strategy, fine-tune your entry and exit points and improve your performance?
Yes here we are about to talk about the Trading Journal!
Let’s summarize this in the start, it is for you to become a successful trader...& for you to become one, it requires a guiding tool for you to learn and practice.
What is a Trading Journal ?
The journal helps you design a fruitful strategy, enhance trading efficiency, analyze on the favorable trades; consequently assisting you to mint more of banking & lifestyle happiness...in other words - Money Honey!
Why should you use a Trading Journal?
As we trade we all are bound to face crests & troughs both, so while we fall in the pits as we learn & trade (and vice versa), a trading journal helps you to take an account of it and jot down your falls preventing you from further dubious decisions & wrongly planned actions. By documenting it all down, with every next move, you rearrange & better your trading skills, keeping you shielded from uncertainty. The more the analysis the more chances of growth you embrace.
Main objective of a Trading Journal :
The journal for you to escalate quick yet balanced mentors you to evaluate & examine each trade done and the keep an eye on the graph of the trading results or its performance.
What all includes in a Trading Journal ?
Some of the titles to be considered inside a trading journal would be the dates, the execution, length & type of trades, the relevant market conditions & analysis of the same, ponder over the profits or possible losses, the specific targeted goals & motivation around it, the philosophies which sync with trading patterns or style, the thinking dots or the mentally processing phenomenon, future readiness, skills donned up the sleeve or whats more to learn for the path ahead, scrutiny during the trade session.
If you stick by the words above, a journal ensures sanity & indeed a glorious trading career.
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