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Write Down Each Trade You Make.: 2. Reason For Taking The Trade. 3. Objective You Had When You Took It

Keep a detailed trading log to record each trade, including the reason for taking it, risk level, whether it met the planned objective, and outcome. Take screenshots of the chart at entry and exit. Analyze losing trades at least monthly to identify trends in bad decisions or plans and improve, and also review winning trades to identify trends in successful strategies to replicate. Regular review helps traders determine if they followed their plans and whether the plans themselves were effective.

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24 views

Write Down Each Trade You Make.: 2. Reason For Taking The Trade. 3. Objective You Had When You Took It

Keep a detailed trading log to record each trade, including the reason for taking it, risk level, whether it met the planned objective, and outcome. Take screenshots of the chart at entry and exit. Analyze losing trades at least monthly to identify trends in bad decisions or plans and improve, and also review winning trades to identify trends in successful strategies to replicate. Regular review helps traders determine if they followed their plans and whether the plans themselves were effective.

Uploaded by

Anonymous JrCVpu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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KEEP A TRADING LOG:

I. Write down each trade you make.


2. Reason for taking the trade.
3. Objective you had when you took it.
4. Risk you took on the entry.
s. Whether the trade went to plan.
6. Final outcome of the trade.
7. Take a snapshot of the chart pattern when you took the trade.
S. Take a snapshot of the chart pattern when you exited the
trade.
9. Mark in the points where you moved your stoploss.


ANALYSE THE REASONS FOR THE "UNLUCKY TRADES"
1. At least once a week go back over your trades.
2. Once a month go over all the loss trades and note the reason.
3. Once a month go over all the profitable trades and note the
reason.
4. Try and define a trend in your bad trades.
5. Try and define a trend in your good trades.
6. N ote how many times you followed your plan to the
conclusion.
If you do this two things become apparent:
1. Did you follow your plan.
2. Was the plan a good one.
The

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