Inside Trade | Keeping a Diary: Trading Journal

"Life can only be understood backwards; but it must be lived forwards."

Have you ever tried keeping a diary? Usually kids do it as a homework back then without any idea what it is really for. Only after a few years that they would realized its true worth. Its a record of our former self. The priceless memories and experiences that might fade in nothingness and be totally forgotten. Forever kept in the back of our head until tapped by an unexpected event.

In Forex, traders also have this kind of diary. It is called Trading Journal. It keeps track of our observations, trading experiences, and even some claimed that it contributes to self-discipline. Parameters on a particular trade, describing a trading strategy, including indicators employed and signals are usually the content of it.

Decision making elements may also be recorded in your journal. Even if you're trade had resulted to an utter failure, you could make the most out of it by keeping it in your journal to serve as a future reference.