4 Reason Why Forex Trader Need To Do Trading Journal
4 Reason Why You Need To Record You Trading Journal
1 Find the Right Trading for your own trading skills and understanding.
-There are thousands of trading strategy and technique to make money with forex. Not all of them
can suite you well. By doing trading journal, you will find which trading strategy will give you a
greater profit and simple to use.
- Observe and understand the market.
-By doing trading journal, you will understand how forex market works. There are many things that
you need to consider and think why the forex market moving up and down. It is not only the
market changing it’s direction because of the candlestick reversal signal, not only because of the moving
average is crossing each other, not only when you count wave 2, then you go buy. It’s also about the
fundamental in forex trading. By doing trading journal, you will understand other things such as news
and the market sentiment.
- Avoid doing same mistakes and improve for the next trading.
-This is why It is important for you to record the trading journal during your trading. When you just start
learning forex, you will do some mistake. And when you record you trade, you loss your trade, would you repeat it again?
Normal mistake that forex newbie do is such as, miss trade opportunity, early enter the market, put too much entry
lot size and not considering the fundamental news when entering the market.
- Measure your trading performance.
This is important too when talking about successful trading. I think when you start learning the basic forex, you just
only know the basic right? As the time goes by, you know how to enter the market, you know how to gain profits with,
you gain money and withdraw. But how you know that which 1 of your trading strategy is giving much profits,
what time of the day is the most active and suitable to trade in the forex market. How much money you gain
for a day. Is your profits achieve your goal or not? When you record your trading activities in your trading journal,
you can make analysis on your own performance and get your trading improved.
The trading journal is important to keep your consistency while doing forex trading. Start recording you trading activies now so that you can improve in the future.
I wish you good luck in your forex trading.
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