My Trading Journal

Do you prefer to forget mistakes and tend to avoid discussing them? For a trader, it is crucial to note everything down. You should remember and document the successes you've achieved. However, in trading, you should remember the mistakes you've made to avoid repeating them. I often take screenshots of charts, especially during critical moments like approaching a Margin Call (MC). My mentor even records and shares charts on his blog during such times, not to boast, but to share so other traders can learn from these mistakes.

I haven't yet been diligent or confident enough to publish all my trading recordings. However, I always keep notes of my trading activities, recording the positions taken, the take profit (TP) and stop loss (SL) levels, and the number of pips gained. I also sometimes supplement these notes with chart screenshots, especially if I take an unusual or bold position. By keeping such records, both for successful and failed positions, we can learn from these experiences.

One of my trader friends even prints out charts of various time frames every week as a reference in case he encounters "difficult candles" in the future. This shows that understanding and studying market conditions from these notes is very important. Although it can be painful to remember mistakes, it's best not to forget them because we don't want to repeat the same errors. The second mistake can be more painful.

Reflecting on our trading records can also boost morale, not to show off, but to maintain motivation and recall market conditions at that time. We can use a trading journal to document all transactions, their outcomes, and our emotional state. Revisiting these notes can be a valuable reminder.

So, let's create our own trading journal. Start noting every transaction we make along with its outcome and the background conditions. This is not only beneficial as a learning reference but also to recall the emotional conditions and market situations at that time.

Benefits of Maintaining a Trading Journal:

1. Learning from Mistakes:

   • Documenting errors helps to identify patterns and avoid repeating them.
   • Screenshots of charts at critical moments can provide visual learning aids.

2. Tracking Success:

   • Recording successful trades helps to identify what works and boost confidence.
   • Reflecting on past successes can maintain motivation.

3. Emotional Awareness:

   • Noting emotional states during trades can help manage psychological aspects of trading.
   • Understanding emotional triggers can improve trading discipline.

4. Market Analysis:

   • Keeping records of market conditions during trades aids in recognizing patterns.
   • Weekly printouts of charts can serve as a valuable reference.

5. Continuous Improvement:

   • A comprehensive journal facilitates ongoing assessment and refinement of strategies.
   • Comparing past and present trading performance highlights areas for improvement.

By diligently maintaining a trading journal, we can transform our trading practice, learning from both our successes and mistakes. Start documenting your trades today and watch your trading proficiency grow.

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