How to complete a trading journal
In short, a trading strategy is a plan that you draw up, taking into account a huge number of factors ... Starting from trading charts - ending with what the weather is like outside today. There you also fix negative things. All that leads to losses. Well, the most important thing for which we record all this is to make a super duper analysis and clearly and clearly see what the losses are due to. Further, of course, we try to exclude them. Why is it necessary? In order not to stand in one place and finally reduce the number of negative transactions.
In order to be able to clearly identify all positive and negative factors, a trading journal is required, which should include:
1) Risk management strategy and profit taking.
2) Trading plan as you see it and tools to use in trading.
3) Psychological state when you feel greedy or fomo, from missed opportunities.
For these factors, it will take a long and dreary time to collect statistics. The more the better, for good you need at least 3 months.
In the diary of transactions, you can upload all your transactions that you opened. This is done again to collect statistics and further analysis.
What I log:
1) The opening date of the transaction before the exact time. This is done in order to find this setup in the future and completely disassemble it in order to identify all errors and inaccuracies.
2) Traded pair. You enter the ticket of the tokens you are trading, it can be Bitcoin (BTC), Ethereum (ETH), I think it's understandable.
3) The side of the position is Long or Short. In the future, you can see why you opened this side here, it might be more accurate to open it in the opposite direction. Accordingly, you can also analyze your mistake.
4) Criteria for entering a trade. This will be the most important aspect of filling out the diary, since here you must clearly describe the criteria without reference to emotions and your needs. The main thing is to describe not what you want to see, but what the chart offers. Do not confuse these concepts, from your far-fetched Wishlist and binding to some kind of opinion, but clearly argue your thoughts regarding this position. Entry criteria can be the best trading tool you use, it can be a trend trade or other factors that you used for analysis.
5) Screenshot of the trade entry. The login screenshot is needed to determine your entry, whether you entered correctly and what were the factors for this entry. After that, this transaction is analyzed by the input and the correctness of the actions.
6) Screenshot of the trade exit. An exit screenshot is necessary to understand the error, why you got a loss and how you can avoid it in the future.
7) The results of the transaction. You just write down what profit / loss you recorded. You can enter % to the deposit and PNL at will. Personally, I only use % of the deposit.
8) Notes after the transaction. Here you should fully describe which notes for the future are worth emphasizing and which you will have to return to for a detailed analysis. Again, write your thoughts without being tied to emotions and the outcome of the transaction.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
---
• Look at my ideas about interesting altcoins in the related section down below ↓
• For more ideas please hit "Like" and "Follow"!
In order to be able to clearly identify all positive and negative factors, a trading journal is required, which should include:
1) Risk management strategy and profit taking.
2) Trading plan as you see it and tools to use in trading.
3) Psychological state when you feel greedy or fomo, from missed opportunities.
For these factors, it will take a long and dreary time to collect statistics. The more the better, for good you need at least 3 months.
In the diary of transactions, you can upload all your transactions that you opened. This is done again to collect statistics and further analysis.
What I log:
1) The opening date of the transaction before the exact time. This is done in order to find this setup in the future and completely disassemble it in order to identify all errors and inaccuracies.
2) Traded pair. You enter the ticket of the tokens you are trading, it can be Bitcoin (BTC), Ethereum (ETH), I think it's understandable.
3) The side of the position is Long or Short. In the future, you can see why you opened this side here, it might be more accurate to open it in the opposite direction. Accordingly, you can also analyze your mistake.
4) Criteria for entering a trade. This will be the most important aspect of filling out the diary, since here you must clearly describe the criteria without reference to emotions and your needs. The main thing is to describe not what you want to see, but what the chart offers. Do not confuse these concepts, from your far-fetched Wishlist and binding to some kind of opinion, but clearly argue your thoughts regarding this position. Entry criteria can be the best trading tool you use, it can be a trend trade or other factors that you used for analysis.
5) Screenshot of the trade entry. The login screenshot is needed to determine your entry, whether you entered correctly and what were the factors for this entry. After that, this transaction is analyzed by the input and the correctness of the actions.
6) Screenshot of the trade exit. An exit screenshot is necessary to understand the error, why you got a loss and how you can avoid it in the future.
7) The results of the transaction. You just write down what profit / loss you recorded. You can enter % to the deposit and PNL at will. Personally, I only use % of the deposit.
8) Notes after the transaction. Here you should fully describe which notes for the future are worth emphasizing and which you will have to return to for a detailed analysis. Again, write your thoughts without being tied to emotions and the outcome of the transaction.
Hope you enjoyed the content I created, You can support with your likes and comments this idea so more people can watch!
✅Disclaimer: Please be aware of the risks involved in trading. This idea was made for educational purposes only not for financial Investment Purposes.
---
• Look at my ideas about interesting altcoins in the related section down below ↓
• For more ideas please hit "Like" and "Follow"!
🔥Indicators Set - t.me/crypto4light/2155
✅Youtube- youtube.com/crypto4light
💰Join in tg channel - t.me/crypto4light
🐦Follow on Twitter - twitter.com/vladi4light
📊Max Discounts lnk.bio/discount4light
✅Youtube- youtube.com/crypto4light
💰Join in tg channel - t.me/crypto4light
🐦Follow on Twitter - twitter.com/vladi4light
📊Max Discounts lnk.bio/discount4light
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