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A buying and selling journal is a doc the place merchants document every thing 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 achieve their buying and selling targets.
Watch this 2-minute video to be taught extra about holding a buying and selling journal.
Advantages of Conserving a Buying and selling Journal
– Observe Commerce Particulars – Preserve a every day buying and selling journal to maintain observe of the small print of your buying and selling expertise. It helps to place a concentrate on post-trade evaluation.
– Use Pen & Paper – Use pen and paper when creating your commerce journal. Your mind processes info in a different way whenever you write issues down thus enhancing understanding and reminiscence retention.
– Observe 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 for those who can determine your strengths and customary errors. Reviewing typically can even assist you keep away from repeating errors.
– Write Down Observations – Ensure to jot down down buying and selling observations. For instance “was my cease too tight?” or “my pre-open counter pattern didn’t work once more” will 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? In that case, why?
There are a lot of nice causes to maintain a buying and selling journal and we simply lined a number of. For those who aren’t at present holding a buying and selling journal, strive 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 suggestion of any product, service or buying and selling technique. It consists of content material from unbiased individuals or corporations which might be 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 replicate the official coverage or place of NinjaTrader or any of its associates.
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