Hi all,
Even though I have been trading full time for over a year and a half, I find myself constantly learning and enjoying the process. Sometimes, reading or even re-reading basic foundational material is a reward in its own self.
With that said, here is something I came across, not a new concept by a long shot but a very good read as a reminder of what we do as traders fundamentally; the practice of keeping a trade journal and how important, essential, it is if we want to succeed.
Lessons From A Trader’s Diary
I hope it is okay to post this link. Good luck to everyone. Cheers.
Did you consider automating your system to avoid Emotion completely?
Personally, I stopped using trading journal.
For me, the purpose of journal is to make sure you’ve followed your trading plan religiously. Right now , I’m relying to computer to execute my trading system round-the-clock without worrying the distraction of emotion of Greed or Fear.
I only use tracking tool like MyFXbook to analyze my overall performance.
I believe automation will bring complete Time Freedom.
Regardless of how automated or successful one’s system is, if there isn’t a fundamental emotional maturity towards money (especially lots of money) invariably, it will be lost or squandered one way or another. Automation, as far as I am concerned, is welcomed and useful in helping a trader achieve his goals, self awareness on the other hand is something that can’t be programmed.
I do agree that a trade journal is very important for forex traders as they go through the process of learning.