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  1. #1
    Super Moderator RoboForex Trader's Avatar
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    Journal

    It’s been said that trader should have a journal, but not everybody understands for what purpose. Let’s go to Wikipedia and explore – what the journal is?

    «a daily record of events or business; a private journal is usually referred to as a diary»

    To progress in personal and professional growth, it’s very useful to have a personal journal (diary) because it structures our experience and allows to move forward. That’s why you’d better have your journal – you don’t need to have public journal, it can exist for your personal use. Journal whatever makes sense concerning your trading: trades, ideas, observations, notes. You can even write down what your mood is when you make a trade.

    Example: Some event occurred on the market and it has changed everything, but you don’t know what’s going on. Make a note. Later on, when you know the reasons, you may add a commentary that explains reasons of that event.
    There are investors that are careless about your account statements, they want to know who you are as a person and are you eligible for funding.

    Having a journal, novice trader also has one more benefit in future. He will be serious about his trading. It will lower influence of psychological issues on his performance.

    Also, it’s very useful to analyse your journal to know your mistakes. In future it would be easier to eliminate such mistakes if your know how they affect your trading.

    P.S. If somebody uses any services or software for journaling, share it. I use Evernote.

    Please preserve yourself from comments «Diary is a great thing!» This thread is about ways of keeping a journal.

    PS.PS. If you don’t know why you need a journal and want to keep everything in mind, this thread is not for you!

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    Last edited by RoboForex Trader; 08-14-2013 at 05:53 PM.

  2. #21
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    Actually it is going to be tough for a new trader to kep journal. I would suggest that one they have had about 6 month of practice then they might as well think about this. Nevertheless a trader who trade non live account and spend a fair amount of time, he has to have the ability to write down analysis, thought and what actually happened afterward.

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  3. #22
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    A trading journal always help you in having a right mindset during your trades. Like if you are exercising to lose weight you need a bath room scale to measure your progress, here in forex trading business journal serve the same purpose, a trading journal will help you track your trading performance over time, which is pre-requirement to improve your performance.

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  4. #23
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    Having a trading journal is a very important and highly recommended for every trader in the making, with a forex trading journal, then we will be able to easily learn back of the transactions in the past which have both suffered a loss or a profit, so that the future trade later we will be better again.

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  5. #24
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    We all know about journal . It is an essential element of trading . As the news of economics of a country is must to trade really and successfully . There are two types of analysis for trading One is fundamental and the other is technical . News is must in fundamental analysis but is important also in technical . So a trader must make a analysis of market and keep it for future use .So journal is must to trade.

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  6. #25
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    Having a personal journal helps a lot. You can note down many many things in the journal like for e.g. what lessons you learnt? How your trading went? How many pips you made? How much losses in pips/profits?
    This helps a lot, Although it takes time to write everything , but it is for your own good . Soon you will realize it :)

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  7. #26
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    To me, it will be cumbersome but i do not really ignore the benefits that it might cause, it is better that you have what you want the way that you want it, i love to put things done, but if things that you are writing, i mean the record that you are bearing and putting into the writing are too much, the most valuable ones at times might be ignores, this is when they are too much actually, this is where i take it slow.

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  8. #27
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    Well, that mgith be the same case as me too cozard007, i've never made any trading journals before but i will surely remember the important event in the market and take a note from there. So that i won't re-do the same mistake again in the next trade i do but i prefer to remember it instinctly.

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  9. #28
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    I am very fond of keeping a trading journal with me. Right now i am using evernote for keeping a diary like thing for my records . The journal helps me a lot . I record my mistakes, my new learnings, my new experiences, everything there.
    It also works like a motivational thing for me because there i have clearly written my aims at the start of the 1st page of trading journal.

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  10. #29
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    Although i am a newbie and before reading your article i made some journal regarding trade and huge movement from normal market structure. but i did not analysis it, what is actual reason for that movement. but now through your article it has given to me a value able direction in next i will maintain it and practice it. and news for novice trader that try to follow it, to enhance skill of themselves.

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  11. #30
    Trader dkarev's Avatar
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    it very important we keep a trading journal when trading Forex especially when one is new to the market,even as a expert trader is very important we keep a trading journal when trading as well,it keep us up dated about the market and pairs we are trading as a long term trader that i am,i keep record of all the pairs i trade when trading.

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