Most traders fail because they make the same mistakes over and over. A diary can help by keeping track of what works for you and what doesn't. Used consistently, a well-kept diary is your best friend. When keeping your diary, make sure that it contains at least the following:
1- The date and time you took the position.
2- The rate at which you took the position.
3- The reason you took the position.
4- Your strategy for the position.
5- The date and time you exited the position.
6- The rate at which you exited the position.
7- Your profit/loss on the position.
8- Why you exited the position. Did you follow you strategy?
Once you learn to recognize successful trading patterns, you will be able to spot them when they return.
1- The date and time you took the position.
2- The rate at which you took the position.
3- The reason you took the position.
4- Your strategy for the position.
5- The date and time you exited the position.
6- The rate at which you exited the position.
7- Your profit/loss on the position.
8- Why you exited the position. Did you follow you strategy?
Once you learn to recognize successful trading patterns, you will be able to spot them when they return.
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