Friday, July 17, 2015

Lesson-5

Keeping a Trading Journal
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*A trading journal is your single most powerful weapon for stamping out trading mistakes, fears and weakness.
* Spot your weaknesses so you can improve on them.
* Spot your strengths so you can use them more efficiently.
* Improve your trading and refine your method.
* Track your progress.

Structure of your Journal
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1. The Entry Date & Time <8-Jun-2011@8:09>
2. The Close Date & Time <8-Jun-2011@11:01>
3. Long / Short
4. Trade Type <reversal, breakout>
5. Pair
6. Lots
7. Risk
8. SL
9. TP
10. Entry
11. Exit
12. Profit or Loss <+30>
13. Why am I entering? <a reversal signal has been triggered>
14. My Thoughts at time of entry
15. My Thoughts at time of exit
16. Did I follow my plan?