Join us in this comprehensive tutorial as we walk through the essential process of building a personalized trading journal. Whether you're new to trading or aiming to elevate your strategies, this educational video empowers you with the knowledge of why building a trading journal is a critical step in your trading journey. Learn with us, and discover why a...
Mastering Trading Success: Harnessing Key Performance Indicators (KPIs) for Informed Decision-Making
1. Introduction
In the dynamic world of trading, success is not just about making predictions but about making informed decisions backed by solid data. Key Performance Indicators (KPIs) serve as the compass that guides traders through the tumultuous seas of...
In one of the previous posts, we discussed the significance of a trading journal. In the today's article, I will share with you the key elements of a trading journal of a professional trader.
And first, a quick reminder that a trading journal is essential for your trading success. No matter on which level you are at the moment, you should always keep track of...
I’m sure you know by now.
That every successful trader needs a trading journal.
This is an essential tool to track, monitor, evaluate, record, and measure your trading success.
However, I’ve come up with 4 EXTRA Journal Items that you can add to your journal that could help improve your trading, win rate and overall performance.
We can call these the “Trading...
📍Creating a trading plan and trading journal are two important steps in developing a successful trading strategy. Backtesting is also a crucial component of any trading plan. Here are the steps you can follow to create a trading plan, trading journal, and backtest your strategy.
🔷Define Your Goals and Risk Tolerance
The first step in creating a trading plan is...
📍Journey Of a Successful Trader
No one started as a good trader. Every profitable trader was once a newbie. The journey of a successful trader is filled with challenges, hard work, and perseverance. It begins with a strong desire to learn and a commitment to become an expert in the markets they are trading.
📍The Right Path To Reach The Top
🔹Learn the basics of...
Trading can be a challenging and emotional endeavor. As traders, we must navigate through various market conditions, deal with losses, and manage our emotions. It's not surprising that many traders struggle with maintaining their psychological balance. However, one tool that can help traders keep their emotions in check and improve their trading is a trading...
So you have a trading account opened.
The money is in, your watchlist and charts are set up.
But you have left your trading half-hearted with doubt, concern and little energy.
This is what is slowing your performance.
This is what is stopping you from growing your account.
And this is why you’re living with second thoughts not seeing progress.
May these 5...
A trading journal is an important tool for any trader. It allows you to track your progress and learn from your mistakes. In this blog post, we will discuss the different elements that should be included in a trading journal. These elements include the date and time, the traded instrument, the entry and exit price levels, the position size, and the trade...
In short, a trading strategy is a plan that you draw up, taking into account a huge number of factors ... Starting from trading charts - ending with what the weather is like outside today. There you also fix negative things. All that leads to losses. Well, the most important thing for which we record all this is to make a super duper analysis and clearly and...
First let’s begin with…
What is a trading journal?
This is a log book where you plot every trade you make with the metrics to show how your portfolio is performing and will continue to do so.
I’m going to briefly list the items you’ll need to track your trading performance.
25 Items to plot in your trading journal…
The trade No.
The market traded...
Hello, traders.
In this post, I am sharing tips for trading journals to bring your trading skills to the next level.
This post would help you if;
✅You are not sure what to write in a trading journal
✅You are not motivated to create your trading journal
✅You do not last in recording your trades
■ Importance of trading journals
Trading journal is important...
The purpose is to be realistic. E.g. some trades that are open will give an overall of X amount of drawdown so the next trade with exactly the same lot size will initiate a spread which will decrease the amount of our equiity and a possible drawdown which it will decrease it further, so what a trader should do in these realistic circumstances??? Stick to the plan!...
Trading Journals are essential. It's your game plan to what you could potentially see in the future as a trader.
In the above image are the 25 metrics every Trading Journal should have...
And below are 10 benefits for having a trading journal...
1. KEEP TRACK
A trading journal helps to keep track of your trades, including the reasons for making the trade, the...
Starting out in trading is definitely an exciting experience but you must be very careful not to make these dangerous mistakes that most beginners make.
While there are many dangerous mistakes for forex newbies to make, I’ve highlighted the two that are subtle enough not to be noticed but can have a big influence on your trading career.
1. ...
In summary…
Keeping a detailed record of your trading statistics enables you to understand exactly how well (or badly) your trading strategy is performing.
Once you have the data, you can perform detailed and useful analysis on your trading performance to identify what is good and bad about your trading process. It helps you measure how well you have executed...
Socrates famously said “The unexamined life is not worth living.” Why do we do what we do, why do we feel the way we feel about something, or what is our purpose in life? These questions brought about generation after generation of journals, diaries, and random thoughts from some of our greatest thinkers from Socrates himself, to Jonathan Edwards in early America,...
1. What is a trade journal?
A trade journal is a method which allows you to describe all the relevant details of every trade that you take.
2. Should I have a trade journal?
Every single trader MUST have a trading journal.
Without having a clear picture for each of your trades, it will be very hard to become a successful trader.
3. How does a trade...
