Believe me, one of the best things Ive done. I found I literally changed my opinion several times per day, which helped me ask myself the right questions. I learnt so much from that notebook.
I would recommend googling for tips on keeping a professional journal, not strictly a trading one. Words words and more words will help you understand your goals, not TP 120, SL 80, entry 90. The second type of journaling barely helped me at all…
That’s good advice. Also, I imagine that writing down ideas helps with going back to them at some point to try them out?
One of the two strategies I use is actually a strategy I used back in 2014 but abandoned… I went for something completely different after that. Didn’t work out for me.
Then, I found my journal from back then, and started re-modelling and re-creating… And bang, I trade something differnt now, but that old strategy was the basis on which I built
That’s something that happens often, and it is a great example why one should write down ideas and knowledge they already have. It’s interesting to go back to those a few years later and examine them through the lens of the new knowledge one has acquired in the meantime.
Yes never feel guilty because market works 24/5 . You can avail nay good opportunity some other day or time. This was not a last time you missed. Stay in touch with market you will find many good chances here.
Biggest mistake retail traders make is that they focus solely on getting in to trades. Whereas success depend on getting out right.
I am also of the opinion that one shouldn’t get bugged down on failures. If you’re feeling really bad, just don’t open the terminal for a few days, and you’ll understand that trading is not just a hobbie, but actually a way of life.)
I agree! Opportunity comes every day. But a smart trader is like a hunter who waits for the right opportunity to trade. One should never jump into a trade because he is hungry for action.
Remember there’s always another trade, if you are patient enough to wait.
I like this. It is definitely the exits that make the money - or lose it.
I always look for two exits from every new position - one is a stop and the other is the take profit. The stop is always entered at a price based on past TA: its a price at which the probability of further price movement in my personal direction is lower than the probability or price moving in the opposite direction. I never trade without a stop nor widen the stop. If the stop is far away from my entry, I reduce the position size so that the capital at risk is kept to a constant and acceptable % of my account.
I usually don’t set a TP order as its not possible to be definitive about a new price at which the probability of further positive movement reduces below 50%, its not just a matter of price level, the intervening new TA is also relevant. So I usually use a fast MA on the charts and get out if price closes on the wrong side: a close on the wrong side usually indicates further negative price movement, but a negative candle would serve equally well.
None if it is rocket science. That said, I can’t understand seeing traders every day placing a stop or closing a trade where price is more likely to move in their direction than against it. I guess this is fear at work, disguised as risk management.
You have to understand one thing - Forex market will not exhaust itself, and you will have plenty of great opportunities in the future. Self-condemnation won’t reverse the time back or something, so forgive yourself and keep moving towards your financial goals 
I absolutely agree. If you lost a good opportunity today there’s no reason to be upset - there will always be a good opportunity tomorrow.
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There is no reason to become guilty on missing trades. Market is not going to close it will work 24 hours 5 days in a week. You can find many good chances of trading. If miss one wait for proper time. Next day or incoming days will shoe you your favorite move.
First and foremost rule in forex or any trading is never regret any steps missed. Learn that you have done something which you should have and apply it on to your next level and advance. Regretting will only make you think about it and rule your mind in the same topic while others make money.
take a break man…Just do another job some day…then come back to trading…Do meditation at morning…i think itll help you.
No need to be regretted on missing trades or even on losses you face due to mistakes . There is always a next time in forex if you not all your money. Make a new and applicable plan and ways to achiveve these plans are more important to know. As much trader will do more hard work he will beat a mile stone easily.
Its really ok if any trader misses some trades since we are not perfect. For this reason, what I actually do is: try to learn from my mistakes so that I never missed any profitable trade further due to old mistakes. Yes, I do read books related to trading but take basic help from demo accounts to understand my mistakes.
i hope you tame your internal urges to trade and the mindset stays positive
i like this comment, Never feel guilty for missing a trader just learn from that guilt and try to overcome the conscious.
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Being aggressive is actually a positive feature for a trader, but only to some extent. I will not reach anything without attacking the market and being pushy. But the real talent is to control your emotions and do not give them leading position. If the emotions will take over it can crush your trading success.
I would suggest using your high focus or aggressive nature and channel it into the gym
This is what I do I weight train 3 times per week 3 split and i also do kick boxing training
Only bag work no sparring
I find this leaves me quite settled and balanced which crosses over into my trading
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