A buying and selling journal is a doc the place merchants file every part they do throughout a buying and selling session. This consists of technique, threat administration, psychology, and extra. Many merchants depend on their journal as a “buying and selling roadmap” to assist decide the trail to succeed in their buying and selling targets.
Watch this 2-minute video to be taught extra about retaining a buying and selling journal.
Advantages of Conserving a Buying and selling Journal
– Monitor Commerce Particulars – Preserve a each day buying and selling journal to maintain observe of the main points of your buying and selling expertise. It helps to place a deal with post-trade evaluation.
– Use Pen & Paper – Use pen and paper when creating your commerce journal. Your mind processes data in another way if you write issues down thus bettering understanding and reminiscence retention.
– Monitor Time – Preserve observe of the time of day you open and closed your positions. Are you a greater dealer within the morning or later within the day?
– Assessment Usually – Assessment your buying and selling journal and see if you happen to can determine your strengths and customary errors. Reviewing usually also can assist you keep away from repeating errors.
– Write Down Observations – Be sure that to write down down buying and selling observations. For instance “was my cease too tight?” or “my pre-open counter pattern didn’t work once more” may help you refine your technique.
– Don’t Deviate From Your Plan – Did you deviate out of your preliminary buying and selling plan by shifting a cease or revenue goal mid-stream? If that’s the case, why?
There are numerous nice causes to maintain a buying and selling journal and we simply coated a number of. In the event you aren’t presently retaining a buying and selling journal, attempt it out! NinjaTrader even has built-in journal capabilities the place merchants can concurrently journal whereas buying and selling and conducting market evaluation.
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This text is meant for academic and informational functions solely and shouldn’t be considered as a solicitation or advice of any product, service or buying and selling technique. It consists of content material from unbiased individuals or firms which are in no method affiliated with NinjaTrader Group (NTG) or any of its associates. The content material and opinions expressed on this article don’t essentially mirror the official coverage or place of NinjaTrader or any of its associates.