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Trading Journals
Journal for Forex Trading
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[QUOTE="Fxpipper, post: 28380, member: 12996"] [b]Oh yeah![/b] When it came to that first trading journal, it was more about the profit column than anything else. Remember, I was a newbie just getting started and this was when I just started to learn about the market. But as I learnt more about the market, yes I benefitted from it a lot, not kiddin' On the journal, as I learnt more, I realized that I could use the trading journal to analyze my entry/exit points, currencies I traded in and any Fx news items that initiated the trade. In addition, I used my trading journal to analyze my risk management, whether it was effective or not. And Eugene, I do agree with you that a newbie will have to learn about the intricacies of the market before opening a journal. But posting one here is not going to help anyone. The point being, the initiative should come within and not without. In other words, while a trading journal is important for every Fx trader, he/she should first take the steps to learning about the market and understand why a journal is important. And then set up their own models, google can provide you with a rough idea of what you can put in your journal. The journal can contain as little as trades opened and closed, with the account balance at the end. But what these newbie traders need to do is to take the trade apart, entry points, exit points, comments, newslinks [for you to place the trade], indicators used, pip value, pips won/lost.. Now, you get the idea.. [/QUOTE]
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