Trade 1h timeframe
Short AUDJPY
Entry xxx
SL xxx
TP xxx
Signals shooting star bearish pinbar
Analysis Stochastic overbought
Outcome loss (hit SL)
I do this on a diary/journal app…came to check for improvement.
I think it’s important if we often forget after doing forex activities.
Yea, I currently just use screencast on my pc to record my analysis. It helps a ton, I record what I did wrong, what I did right, everything and just watch them over and over lol
yes, every day. i have a set of diaries in my book shelf
I write my trades set ups and thoughts into a book but my broker also sends out daily/weekly/monthly statements which show all the trades which is good for cross checking
Thank you for all of your comments. I have been focusing on studying the past couple of months.
@GodAtum - Have you started with the service? How has it been?
@anon46773462 - Thank you for the link to the trade journal template and for your detailed comment.
@hollyholly141 - Why didn’t you find it useful?
Yip. I input my capital balance on Monday morning and again on Friday evening after the close and calculate what I’ve made for the week. Recording of trades done.
Now I’ll admit when I posted the above is was meant to be for fun. But in just thinking about it here’s some advice:
If you are still demo trading and learning then it’s probably a very good idea to record trades so that you can analyze what went wrong (and what went right) and the reasons why. But if you’re actually trading you should already be past this stage and be concentrating on the money as by this stage you shouldn’t be analyzing trades etc. because inevitably it’s going to lead you to curve fitting whatever trading system or methodology you started out with (and of course it’s assumed that you’d not be trading with real money if you’d not already been able to eek out an overall profit when testing your trading system or methodology). And if it’s for bragging rights: nobody cares I assure you. Don’t get too bogged down with detail is all I’m saying as it can detract from the job at hand. At the end of the day: all that counts is the money. Nothing more.
Wow such a good idea thanks
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Recording your trades is a must!
I think it’s a good idea. I didn’t do that for a long time and it was a mistake.
I try to keep a journal, but life can sometimes be busy.
As a minimum i have my account connected to MyfxBook
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yea, I used to record the trades manually, but that was pointless. So I just connected my trading account to myfxbook and it tracks everything for me. So I just login if I want to check my weekly/monthly/etc progress. I save the journaling for trade ideas, why I lost/won a trade, my thoughts, etc
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Recording you trade is very important as it helps you to improve your skills and also helps you in not repeating the mistake. MYFXBOOK is one of the medium where all your trade transaction are automatically recorded as manually keeping record may bring error.
I just keep a journal, I haven’t connected my account to anything.
HI Sofia are you a successful trader?
I heard a lot of traders discussing maintaining a trading journal. I never thought of it before. Is it the right time that I start maintaining it?
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Yes. Start a log of all the trades you take - you can’t improve what you’re doing unless you know what you’re doing.
Spend more time on planning the log than logging stuff. Decide in advance the questions you will want your log to answer.?
Check your losing trades against your log to make sure you followed your strategy. Over time you might see ways the strategy needs to be improved.
But also check the winners to see likewise you followed your strategy rules but also if perhaps the win could have been larger, or the risk lower.
Also log the trades you didn’t take and note why you didn’t take them.
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I do have a record of my best and worst trades. It is okay to record them. But this also depends upon your broker and if they offer this service.
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