Forex trading journal

Beginner Questions
1

Hellow , I’m new member .

Can you please tell me what are the essential things to include in a forex trading journal?

2

hi, the forex journal archives your ideas and trading history, remembering all information is impossible. You can use this information later to track your progress and develop new strategies for the market. Each time you have to ask yourself a few questions. When? To know the opening time of the position, Where? to find out about the opening price, why was the position opened? e.g. the indicator beats the price, stop loss level, profit level, transaction volume, e.g. 1 lot, risk-to-profit ratio. If you are trading more than one currency pair, it’s a good idea to set up a journal for each pair separately for larger order. Regards Greg

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3

thank you very much profesorpips

4

Hi canba7,

You’re along the right track but if you do the babypips course you will be taught this. Check out this thread. Start your education, take it slow and be patient.

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5

thank you very much tradeforex077

6

To make sure you collect the right information, start with the questions you will want to answer later - the first of these will be the questions you wish you could answer right now to improve your trading but you don’t have the information yet. To know these you must be trading or demo trading.

No doubt as your trading improves, you will dump some data tracks and add others. This indicates you are getting closer to the right course towards successful trading.

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7

Always what you are thinking - what is it that that you see right now.

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8

I am using these steps in my journal:

  1. Take the image of the current setup on the trading platform. I need this so I know how did the setup looked like
  2. Write down which price pattern I have used. Is it pin bar or something else
  3. Are there any other confluence level that gives confirmation to my setup. Something as double top/bottom, fibb, support/resistance
  4. Write down my thougths why do I think this is good setup
  5. Write down my exit reason

These reasons are important if you want to make analysis later on. And analysis is very important because it can give you a lot useful informations.

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