A trading journal is any jotter or book that is used to record all your trading activities for reference purposes. Using a trading journal will help your avoid repeating the same mistake all the time.
Always keep a journal and a pen whenever you are trading, record all your predictions and the outcome. If you do this properly you will be able to understand the Forex market in a few months. But if you don’t use a journal, you might demo trade for years without understanding how the market works properly.
The following are some reasons why you must keep a trading journal:
Always keep a journal and a pen whenever you are trading, record all your predictions and the outcome. If you do this properly you will be able to understand the Forex market in a few months. But if you don’t use a journal, you might demo trade for years without understanding how the market works properly.
The following are some reasons why you must keep a trading journal:
- It helps for reference purposes because you will often come across similar situations.
- A trading journal helps you understand a currency pair easily.
- It helps you avoid repeated mistakes as this is the reason why most Forex traders always lose their money.
- This will help you remember the outcome of your predictions and also help you rate your improvements.
Always keep a pen and a trading journal whenever you are trading a demo or live account as it has so much advantages that will help your improvement.
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