Keep a diary or journal Forex Trading ~ Forex trading pip

Friday, August 26, 2011

Keep a diary or journal Forex Trading

11:34 AM

Forex Bond

Before reaching the retail side of things is a real thing I want to remember that the use of a journal or diary trading. These games really important for me, as it not only keeps a detailed record of my trading results, but also of other useful information, I can return at a later time if necessary.

Now a journal or diary can be something as simple as an A4 size book, where to write everything by hand like I do. When I put pen to paper, it makes me think about what I do andhelps me to confirm my thoughts at that moment. This is exactly the way I saw it. You can choose to keep your data online to keep a running Word document or something similar, so make sure you always copy and back up as you go.

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I also use Excel spreadsheets into production, but for me an overview of the results when I tried various systems clock. I can look at this overview of a rather rapid and precise as a particular method is the implementation, especially if you add a little 'Color to it.

A journal or diary is not only a place where you registered your business results, since it is much more than that. If you are a particular trading method, you can describe in detail how the future of reference books, and also for recording changes to the method as you go. You may also want to detail the plan for money management and also to make changes to this record as you go.

Once you are done a certain way for a while ', you canwant to make some comments about what he does and how it can be improved. Every mistake that you made should also be highlighted to make sure you do not make the same mistakes over and over again.

Maybe you want to see how it feels when you comment, or if you have technical problems or any other outside interference that had interfered with your trading.

There is so much you can put on a trading journal / diary, and it is up to you how simple or complex, you takeit.

Here's an example from my journal. These are all hand in a large book in his hand, I think it's a little 'difficult to read and write seems to get worse with age! But I digress.

Before starting to trade at all, I'm trading my diary, written during the day and date, followed by my point of equilibrium. I'm primarily a day trader, so every day is quite a good start for me and I will fear no open positions. I know that my moneyManagement rules, as they are loaded in my trading platform, but I already wrote in this magazine. Directly below the display day and date, I put another sub-section 'News', and after checking the calendar economic factory forex, I would be the time on all important news and evaluates the effect will be observed. I do not care what the news, especially when it comes out so that it can be prepared.

So my info might notice something as simple as this: 10.30 Clock -USD

This tells me that at 10:30 local, there are important messages that affect the U.S. dollar. As simple as that, and I have an alarm on my phone that actually tell a voice recording of me: "Check the charts, Jim, because there are important messages quickly 'set seems silly, but knowing my family, what it is ..

Then I am in business, when I know I have a couple of hours clear. When I pick up one of my children in an hour or so, I can just stay back until the taskhas been completed.

Okay, the first commercial well, and here is an example of how to write it. I use a little 'slang and abbreviated words, but I will explain everything to you.

@ B @ EUR 1.2 1.4215 06.01. Stop -20, the 20
Mkt had become very good relations with all the bullish signals on paper 5 min. Even 60 minutes this was confirmed by the price with a short hopped out of the price between the MPL for most of the day.
Went to +15 is so rose to 1.4205 (-10).
Closed in B / E at6:23 mkt had turned and looked as if a little 'ugly.
Once again I had to let slip away over 10 pips.

This is a real voice in my newspaper on Tuesday, July 21. My first job for the day. So you can see, I bought the EUR / USD, to keep the size of the location, time, and is aimed at all the nominees. The position size, stop and finish are programmed on my trading platform, so it just happen automatically. Then I gave my reasons why I took the trade, like all my bullish signals on my 5Table minute. I then review the chart 60 minutes, with MPL stands for the main line shaft. This was some of the commercial management of my arrest and reduce my risk when the traffic is going to follow my favor. I then explain why I have to trade, due to the fact that I did not like the look of the chart in 5 minutes as indicators began to turn downward, have closed. This covers the period from the close and the result, and in this case it was the time of entry or break-even (B / E). I must go onI declare that I have some profits that trade, at least when I was about 10 pips profit.

Since every business is closed, I think a running total of pips gained or lost in the left margin, so I can at a glance where I am on the day. Once my target is hit, they are not properly tightened and I locked myself out. No better feeling of "losing" a degree in a situation.

So you can see, it's pretty simple stuff, but it gives me back a bit 'on the end ofDays to see what it was either right or wrong. You can try at the end, some methods may be more than one trade, in a few months to see you back in your newspaper, what works for you and what does not. The magazine covers a lot closer than just a simple table of results.

It is now, so get your diary trading systems so you can start trading ...

Keep a diary or journal Forex Trading