I’m New , I have lost some couple of bucks, I pick trade without records, son I want to start afresh by journaling my trade.
What informations should I record on my journals?
Can you assist with a good app for practice e.g trend lines, applying Fibonacci retracement, it’s very hard on meta4
Record the things that you do that affect the outcome of the trade and which you can alter. Its not so much about recording the entry and exit prices but what were the reasons for entering and what were the reasons for exiting. How you chose a price for the stop-loss is more important than knowing the stop-loss price in numbers. Knowing the entry pattern and its time-frame is important.
Like with nearly all research, start with the questions you want the information to answer, rather than what information you can collect.
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Thanks tommor, I have started recording my trade, your suggestion was helpful
Could be useful also to log the trades you decided not to take or which you didn’t have the capital to take, if they fulfilled your trade requirements otherwise. And always remember to track what happened to price after you closed a position.