After trading for a few months, and seeing myself not progressing well, win a little, lose a little, I thought, I have to do something about it. Though I know that every successful trader keeps a journal, and this has been told and thought on every forex trading course, blog, ebook out there...but I never bothered to keep mine, and probably that's why I'm still in this position.
So I decided to do it....still feeling hesitant at the point of writing this, but anyway...what the heck...it's a Sunday evening here 8th September 2013, and I'm not doing anything much for the day. I have been wanting to do it, but always procrastinate, I have to tell myself, procrastination is over...or else things will be going in circles again and again and again repeating.
I decided to use blogger.com as I'm quite familiar with this platform as I have blog on this platform before, and I think it is on the web, which means that I can login and update or record down my trades anywhere and anytimg I want as long as I have an internet connection and a pc or my phone with me. Before, I thought of recording on a book, but the thought of having to bring the book everywhere I go seem bothering. And so the reason to put it online.
I will start journaling on my next forex trade, whatever happen in the past, how I win or lose a trade might not be recorded. This will serve as a new beginning of my Forex trading journey. I hope I will be desipline and stick to the plan of journaling my trades.
At this point, I have no idea how to format my journal, I will probably follow a general way of recording such as:
- taking screenshot of my chart
- Day ____________
- Date____________
- Time Open: ____________Close: ____________
- Currency Pair: _____________
- Entry Price: _____________
- Stop Price:_____________
- Limit Price:_____________
- Lots Traded:_____________
- P/L:_____________
And probably give my analysis by answering to these question on every trade:
- Why did you enter this trade?
- How did the trade go?
- Why did you close the trade?
- Did you follow your trading plan?
The format my change as time goes, but for now this is probably what I will follow. I hope this blog will work well for me, and let see how it goes.
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