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Thread: Journal

  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. #2381
    Trader Azis Muslim's Avatar
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    I once had a journal in this forum and updated it almost in daily basis then I stopped for now. Not only because I do not have much time to spend to write things down in this forum with my analysis, I just do not want to make things become more difficult to understand with other members because my system is quite different than a normal strategy like everyone has. Few traders were paying their attention and offered me the opportunity to continue my journal and then they could follow my thread. But I was saying that I did not have such service to provide and I was not that good to be followed. Such reasons made me stop sharing my journal and keep things by myself.

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  3. #2382
    Trader sniper007's Avatar
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    In a nutshell, one of the aspect that shows that you are a good trader is depending on how you take your past trading experience, which means that when you do learn from your past trading experience and then make good analysis more often then the better for you, because if you don't have a journal then it means that your past experience are not worth it, basically means that you will likely repeat most of your mistakes over and over again.

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  4. #2383
    Trader Toyen's Avatar
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    Quote Originally Posted by sniper007 View Post
    In a nutshell, one of the aspect that shows that you are a good trader is depending on how you take your past trading experience, which means that when you do learn from your past trading experience and then make good analysis more often then the better for you, because if you don't have a journal then it means that your past experience are not worth it, basically means that you will likely repeat most of your mistakes over and over again.
    The traders that will be earning in the market accordingly would have done what will cause that for them, such traders would have gained experience, and that experienced would have been used rightly by that trader before that earnings could be made possible. This requires the much learning of the trader before that can happen, and when traders are making mistakes, they can train more to correct that, all these could be helped through the use of the trading journal in the right way.

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  5. #2384
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    You have all what it takes as a trader to become profitable trader, because the journal might seem to be a simple thing but then again, it is not such a simple thing, it will help improve the way you see the market and also make you have that good correction ability which will lead you to being a good trader who can make use of his or her strategy.

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  6. #2385
    Trader Sascha's Avatar
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    Quote Originally Posted by Striker$ View Post
    You have all what it takes as a trader to become profitable trader, because the journal might seem to be a simple thing but then again, it is not such a simple thing, it will help improve the way you see the market and also make you have that good correction ability which will lead you to being a good trader who can make use of his or her strategy.
    simple yet ignored by many traders including those who've been in this business for years. i know some traders out there who attended a seminar back in my city when the author asked about those who kept a journal for their trading but nobody raised their hands but myself alone. i was so surprised to see how those elder traders who looks like been trading for more than a decade didn't have a trading journal with their trading.

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  7. #2386
    Trader cutiekc's Avatar
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    Quote Originally Posted by Striker$ View Post
    You have all what it takes as a trader to become profitable trader, because the journal might seem to be a simple thing but then again, it is not such a simple thing, it will help improve the way you see the market and also make you have that good correction ability which will lead you to being a good trader who can make use of his or her strategy.
    We have them in our reach, but then again, are we willing to make sure that we get to apply it and then become able to succeed, just like for instance we have the demo account which we can trade with, but then again, traders are not being able to make good use of it in becoming profitable, they often get to still loss their money still.

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  8. #2387
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    Quote Originally Posted by cutiekc View Post
    We have them in our reach, but then again, are we willing to make sure that we get to apply it and then become able to succeed, just like for instance we have the demo account which we can trade with, but then again, traders are not being able to make good use of it in becoming profitable, they often get to still loss their money still.
    We have to be in control of what we are doing as a Forex trader, whethe we are able to do analysis or management part well enough. The best way to improve ourselves is to look at our own trading, I mean evaluate what is going right and wrong with our trading. Many traders dont get serious of this aspect and dont have any journal for proper evaluation, they just keep trading flowing with emotions.

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  9. #2388
    Trader Toyen's Avatar
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    Quote Originally Posted by cutiekc View Post
    We have them in our reach, but then again, are we willing to make sure that we get to apply it and then become able to succeed, just like for instance we have the demo account which we can trade with, but then again, traders are not being able to make good use of it in becoming profitable, they often get to still loss their money still.
    It is not the fault of the trading journal in that case, it is rightly the fault of the traders that have the opportunity to use the trading journal, and did not use it well. When traders are using the trading journal very well, the trader will get to be making a lot of progress through it, and there is no way the trader will be falling into the same former mistakes when the trader is serious with the trading journal.

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  10. #2389
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    Quote Originally Posted by komalam View Post
    We have to be in control of what we are doing as a Forex trader, whethe we are able to do analysis or management part well enough. The best way to improve ourselves is to look at our own trading, I mean evaluate what is going right and wrong with our trading. Many traders dont get serious of this aspect and dont have any journal for proper evaluation, they just keep trading flowing with emotions.
    That is how success can be achieved by us being in good control of our selves and then the aspect of keeping a trading journal is so much important, I see that factor as something that will help the trader make a good decisions in the market. Because when the journal has been kept to and then the trader gets to know one of the reasons why they have been losing, they can remember to avoid making such bad move, but ignoring and not having a journal makes the losses consistent.

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  11. #2390
    Trader ola4real's Avatar
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    Quote Originally Posted by Toyen View Post
    It is not the fault of the trading journal in that case, it is rightly the fault of the traders that have the opportunity to use the trading journal, and did not use it well. When traders are using the trading journal very well, the trader will get to be making a lot of progress through it, and there is no way the trader will be falling into the same former mistakes when the trader is serious with the trading journal.
    Trading journal will have its own function to perform, it is now left to the forex trader to be serious with the trading journal in performing that function very well. Some traders will have the trading journal for having sake, they will not use it the exact way they supposed to use it. If that trader is now losing, the trader will never get to trade correctly, the trader will always be losing in this case.

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