Trade with a journal

[Jack Francisco]

Trading journal is an invaluable tool in helping you avoid making mistakes more than once.

Without the use of a trading journal you may never even notice these patterns; however, by keeping track of all your trades in this way will enable you to eliminate the things that aren't working for you and allow you to focus on the things that actually work.

Keep a track of every single trade you make. After enough time, you'll notice patterns appearing. You may notice that you're always losing on a Monday, or you may be making poor trading decisions just before lunch when you're feeling hungry. You may notice that you're constantly losing on a certain currency pair, but also notice that you're winning on another currency pair.
:clap:

 

[Enzzo]

Trading journal is an invaluable tool in helping you avoid making mistakes more than once.

Without the use of a trading journal you may never even notice these patterns; however, by keeping track of all your trades in this way will enable you to eliminate the things that aren't working for you and allow you to focus on the things that actually work.

Keep a track of every single trade you make. After enough time, you'll notice patterns appearing. You may notice that you're always losing on a Monday, or you may be making poor trading decisions just before lunch when you're feeling hungry. You may notice that you're constantly losing on a certain currency pair, but also notice that you're winning on another currency pair.
:clap:

I agree 100% that keeping a track record of "all your moves" is the way to improve and refine "your edge".....
Instead of avoiding doing what doesn't work, why not "Do the opposite" of it?, take a thought about this

 

[Jack Francisco]

The main information that you can records in your journal are-
What Currency Pair I Traded
Date & Time of Trade
Stop Loss Level
Take Profit Level Target
Reason for Taking the Trade
Strength of Conviction About the Trade (out of 10)
Length of Time You Were in The Trade
Profit or Loss of Trade
Did You Stick to Your System / Initial Analysis (Yes or No).

 

[BBPI_FXTrader]

and it's also very important not to skip recording a trade. Once you skip one, you will skip a second one, and sooner or later you'll no longer be using a journal. Consistency and discipline is the key

 

[angelnish]

Below is a list to have a better idea of what to include in your own plan, but you don't necessarily have to follow it exactly.

All right, here are our 5 "must-have" elements of a trading journal:

Potential trading area
Entry trigger
Position size
Trade management rules
Trade retrospective

Again, It's up to you.

It's your trading journal.

Just like your custom World of Warcraft character, you should customize your trading journal as you see fit.

Remember, you are the one who's going to benefit from writing a trading journal. So write down what you think you would benefit the most from!

 

[hgh]

Agreed!!!
Stop Loss Level
Position size

These two items really help fresher to keep the money.... If lost control, everything will be mess up..