Hello all,
I've decided to try this approach to journaling my FX trades. While I have a more active journal that I keep for my own records, I think this may help me improve my journal approach as well as assist others who have an interest in this to keep closer track of their trades. I firmly believe that trading is more than just a methodized approach or probabilities. While all of these things are important, even after you have confirmed a well thought out approach and KNOW it is profitable, if you don't execute it as it should be done, you are no better off than just shooting from the hip.
In my opinion, documenting what you are thinking when you trade, and why you decide what you do, is just as important as finding a method. Most here are obsessed with the entry method...that is fine and good, but it doesn't have to be all that complicated. In fact entering really isn't that important. Exiting (IMHO) is far more important. But be that as it may, once you find something that works well for you, it is time to start really keeping track of your decision making process and how it is ultimately THAT process that influences your profitability.
In the following pages, I will begin with some trades that have already been executed and document each one at what ever stage it happens to be. As well, as I enter new positions, I will also document my decision making process.
I've decided to try this approach to journaling my FX trades. While I have a more active journal that I keep for my own records, I think this may help me improve my journal approach as well as assist others who have an interest in this to keep closer track of their trades. I firmly believe that trading is more than just a methodized approach or probabilities. While all of these things are important, even after you have confirmed a well thought out approach and KNOW it is profitable, if you don't execute it as it should be done, you are no better off than just shooting from the hip.
In my opinion, documenting what you are thinking when you trade, and why you decide what you do, is just as important as finding a method. Most here are obsessed with the entry method...that is fine and good, but it doesn't have to be all that complicated. In fact entering really isn't that important. Exiting (IMHO) is far more important. But be that as it may, once you find something that works well for you, it is time to start really keeping track of your decision making process and how it is ultimately THAT process that influences your profitability.
In the following pages, I will begin with some trades that have already been executed and document each one at what ever stage it happens to be. As well, as I enter new positions, I will also document my decision making process.
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