For the second blog post, I choose the "Trading Journal" topic, because I believe it is super important in your trading journey.
What exactly is a "Journal"?
Well, like in every business around the globe, any branch, to be honest, journaling is important to keep you up to date with the performance of a company or a business and to know where you're at and what you need to change or improve on.
The same thing is with Trading Forex, you must treat trading like a business whether you like it or not, it is how it is. Keeping the journal can be or will be boring to you at first but this is how you'll keep the track of your trades, your emotions and how well are you performing over a long period of time, for example ( quartal ).
This is what the journal looks like:
- Date of the trade
- Which pair was traded
- Profit or a Loss
- Amount of pips gained or lost
- Amount of percentage gained or lost
- Your emotions within the active trade
On the right-hand side is your "Performance" Box, where you input your monthly gains or loss to see how good or bad are you performing over a long period of time, and this is how you will keep the track of everything and adjust or adapt to the current situation.
I hope this post helped you understand the importance of keeping a journal at all times, to track your emotions, as well your trading behavior and performance for the future.
Stay tuned for more blog posts.
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