Keeping a journal

[Alicia Lynch]

A journal can help a trader to make his decisions easily and correctly.

Of course, maintaining a journal can help you make quick decisions and get effective results.

 

[Fx Master]

Leaning from own trading mistake is the best practice! But, we should try to complete our main learning process in the beginning stage of trading!

 

[FundUp]

I believe that maintaining a trading journal helps in keeping the records of all profits and losses made through which you can analyze the areas where improvement is needed.

 

[Ferro Bianchi]

Recording your trades is quite helpful. In a journal, you can record your entry points, exit points, and all other necessary information. It is a good habit to track your progress. It also helps in avoiding past mistakes.

 

[Disponge]

Keeping a journal is an excellent approach to tracking down our errors. We all make mistakes from time to time. The best way to learn is to make mistakes. Keeping a journal is thus a beneficial practice.

 

[Pinchbeck]

Yes, please keep it always. In forex, it works as your mentor and provides you with all past mistakes and plus points which will help you in future trading. This will also help in setting up goals and tell you whether you need to go back to the demo account to tweak your strategies or brush up the concepts of forex trading.

 

[Subduplicate]

I believe that keeping a trading journal is as important as making trades. It makes analyzing the mistakes easy and helps in avoiding them in the future trades.

 

[Cedric Fenech]

Everyone can start making a journal when they enter trading. However, a trader must be consistent in updating the journal regularly.
A trading journal works as an efficient tool for performance management. Looking at the journal, the trader examines his past performance for improved production and future reference.
It helps to keep track of the success strategies, and also losing ones.
You can study your mistakes that you made while trading.
It's an excellent tool since a detailed diary contains information that goes beyond what's on your brokerage statement. It covers information such as market circumstances and the trader’s own accomplishments and blunders.

 

[Tom Latham]

practice is important and for that demo is a good choice , but i dont like this, i always try to maintain live account with minor balance . its supportive to acquire live knowledge and experience.

 

[Triphibious]

I agree with all members here. Keeping a trading journal is really helpful. I can look back and remind myself to avoid past mistakes and also understand what are the things that worked in the past. It helps me in realizing my strengths and weaknesses which is the most important step in improving oneself.

 

[Nezami]

baby pips course + demo account = the best basic knowledge and experience as a new Forex trader.

 

[Tom Latham]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

 

[Mojo]

Reading about what others do doesn’t make a successful trader. But the real experience comes by analysing your own mistakes and improving them. Your trading journal is a great way of staying on track so that you can trade efficiently.

 

[Faal]

with no perfect money management that is really difficult to survive this market with successfully , be cool

 

[Tom Latham]

i think this is not only for beginners but also for all kinds of traders. happy trading

 

[adamartin]

Keeping a journal about trading can save you from a lot of trouble. You will be able to keep track of what you are doing so far and reflect back on your trading journey from time to time. I think I am able to point out my mistakes while journaling which I tend to overlook during actual trade. So journaling is a great way to study about your trading style and assess your skill level to stay focused and improve further.

 

[Piccadilly]

Keeping a trading journal is a good practice for all traders. You will be able to reflect upon your decisions and trading style when you write it out. Sometimes I read my old trading journals and get surprised with how much I have grown as a trader and also as a person. It helps you to keep track of your trades for future reference. So I will suggest all new traders to make it a habit to journal your day to day trades.

 

[Gallimaufry]

Keeping a journal is very helpful for a trader. It helps in recording the daily trading steps of a trader, some important strategies, key points, or any mistakes that the trader made. When a person looks back into the journal, it not only gives him a feeling of happiness and confidence for how far he has come in trading, but will also remind him about all past trading mistakes and good strategies.

 

[Davidfx89]

risk is everywhere in Forex its a very common thing , there is no one who can deny but if you have proper money and risk management then within a very short time you can bring good amount of profit from here.

 

[FXOpen Trader]

risk is everywhere in Forex its a very common thing , there is no one who can deny but if you have proper money and risk management then within a very short time you can bring good amount of profit from here.

The risk that are present in our trading needs to be controlled.