Forex Trading Library

Keep a diary about your trading

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Keep a diary about your trading wins and losses for future study

One of the best ways to obtain feedback about your trading success is to keep a daily diary or a journal of your trading activities. Ideally, such a journal will include for each trade taken the reasoning behind your decision to trade. For example, this might include your reactions to observations of fundamental, technical and market sentiment data. It might also include a price chart and how your Forex trading plan or system indicated a trade should be taken and whether you followed it within the guidelines and parameters you had set for yourself. Keep a journal for each trading system to avoid confusion. Once you have accumulated enough information about your trading activities, review the journal for feedback on your trading activities and to compute the expectancy of your trading system that shows you the amount of your average winning trade. Good results will help build confidence in your system and your ability to execute it in a disciplined manner.

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