moves 1 times risk in my favor. The, tJS product has gone through countless improvements since those early days, and is now being used by thousands of traders in nearly 100 countries. What is the end goal? Trading, journal designed to help take you from being a new trader to being a professional trader. The power of risk reward and money management will become glaringly evident to you as you look over your trading journal after a few months. Now, one of the main investing forex technical questions I am usually asked is why should I keep a trading journal?
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The key thing to note here is that you need a trading journal that carefully monitors your progress as you trade. Setup: What was the setup / why did you take the trade? Creating and maintaining a trading journal gives you the structure required to build your trading routine on and it also helps you examine and focus on each individual element of a trade, which we will discuss below. Creating and maintaining a Forex trading journal is one of the most important pieces of the puzzle of professional Forex trading. From these examples above, you can see that instead of closing down your bar, you can simply optimize it and it would be en-route to being profitable. Entry date: This is self-explanatory; the date you entered the trade, the date you got filled is what you want here (if the order got filled). Having this tangible piece of evidence to explicitly show you how discipline and patience pay off over time, is a critical element to attaining and maintaining the proper Forex trading mindset. This excel trading journal was designed to work with MT4 because it can automatically import all the necessary trading details directly. You might have experienced losses for the first 3 months, but if you really analyze your trading behavior, you would better understand what went wrong and how it can be optimized.
Forex trading ; creating and maintaining a, trading, journal, spreadsheet.
Software downloads and other resources for forex traders.
Easy Excel spreadsheet simulations for grid trading, Martingale and other strategies.
I have created an Excel based spreadsheet which I use to plan, execute, and track my forex trading.
The attached zip file contains the spreadsheet and a (very) brief manual on its use.