Question from Baichen: As a beginner, what should I include in my trading journal?

Posted by Mario Sant Singh 16 January 2013 1 Comment

Every trader should have a trading plan and a trading journal.

A trading plan guides your market approach. A trading journal records all the trades you take so you may refer to them for learning purposes.

You may include any information you might need for learning, but try to keep it simple. Consider adding the following in your journal:
- date and time of trade entry
- entry price, stop loss and take profit levels
- trade result (win/loss)
- chart snapshot when you entered and exited the trade
- explanation on why you took the trade (fundamentally/technically)
- how you felt after you entered and exited the trade

To know what to include in a trading plan, you may refer to my answer to “Question from Baichen: As a new trader, how do I craft a trading plan and start my first trade?” dated 18 October 2012.

 
To your success as a profitable trader,

Mario

 
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Categories:

Forex Strategies, Forex Trading For Beginners, Forex Trading Strategies, Learn Forex

Tags:

chart, currency trading, entry price, exchange rate, foreign currency, forex, forex trading, fundamental, stop loss, take profit, technical, trade result, trading journal
  • Victor

    I think every newbie trader should first create his trading journal, he can do it in Excel or Word, or use a specific application like I do.
    As I mostly trade using my tablet I use an Android  trading journal application – Trading Diary, it’s very useful.
    But the main point is that keeping a journal is very important.


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