JOURNALING

Page 1

Forex Journaling is writing down and taking screen shots of your trade. Human are habit by nature. Reviewing your journal before trading can help get you mind on track and figure out how to trade better and break human nature to repeat the process with great success rate.

 

Before: Once you have draw n on your technical analysis and you are ea- gerly awaiting your perfect entry point, at this point go ahead and take a screen- shot or an image capture. The screenshot must be taken on the timeframe in which you shall be executing your trade, as well as including the price and time, which is found along the bottom. Once you have done this, name your image with the currency pair and date.

After: Whether your trade has played out to your analysis or not, it is vital that you take a second screen shot as this will become a template for any trades you place in the future.

If your trade has played out the way in which you had predicted then great; keep doing what you are doing! However, if you are unsuccessful you now have the material that will help you to understand what exactly went wrong and this will prevent you from making the same mistake in the future.

It is imperative that you stay disciplined and on top of your post mortem analysis, as over a long period time this will collectively become your history as a trader. Not only will it become a foundation for your present performance but it shall also demonstrate how much you have improved.

All professional traders will view each trade as a transaction and so the im- portance of keeping a log is paramount. In combining your spreadsheet and post- mortem you will have a full proof trading journal, assisting you to grow into the successful trader you endeavour to be.

1a.jpg