This is very good wisdom about the trader's journey. In additional to the journal, I also do video recordings of the trades that I will take. It will also teach you to take profits without being greedy. Even more painfiul is the fact that they think there accounts will triple or even quadruple in one trade. As a Forex trader, you are the director of your own Forex trading business. This may help me write my own.
A Forex Trading Journal to Track Your Performance - Today's article is going to discuss one of the most important pieces of the puzzle of professional Forex trading; creating and maintaining a Trading Journal Spreadsheet. I am going to first explain to you why having a Forex trading journal is essential to becoming a professional trader, and then I am going to show you what my trading journal.
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Why do I need a Forex trading journal Nial? What should my trading journal include and how do I make one? How much money can you lose on the trade? How much money are you aiming to make on the trade? How many pips you gained or lost on the trade. How much total money you made or lost on the trade.
Date the trade closed. Final thoughts Documenting your Forex trading results is a necessary component to becoming a professional Forex trader. Checkout Nial's Professional Trading Course here. Kelly July 16, at 1: Thanks very much i will do this most important task and am sure mt trading will improve. Prashant Sarnaik May 16, at 4: Tee Padgett May 11, at 7: Jprasaad January 22, at Ashley Hubbard December 4, at 6: Awesome Trading Journal Nial!
Your mentoring is among the best of any I have followed in my 8 years of trading forex. Keep up the good work. Kind regards, Clinton Webb Reply. Morena October 12, at 8: You open mind and create inspiration. Alexander Roman February 9, at Thanks again for your help and guidance Reply. Paul Stewart January 26, at 1: Jack January 23, at 6: Chip May 25, at 1: Woodrow May 9, at 8: Glen Parker January 30, at 2: Thx Nail, big thumb up for this article.
Jinesh December 2, at 2: RR October 14, at Mahdi hatami June 8, at 7: Daniel May 28, at 2: You are a gifted teacher. Anna February 26, at 7: I will use urs… Reply. Haroun Kola February 25, at Bram February 24, at 5: Yemi Fayawo August 7, at 3: Kahn May 26, at 8: WEss February 18, at 1: Jack Maverick January 17, at 7: Sorry for my english i am from Ukraine Reply. Mahdi September 24, at 2: Thank you for the trading journal,it is very useful mahdi Reply. Jay September 22, at Rao August 7, at 4: Thanks just downloaded your speadsheet.
Earl M July 21, at 1: Thanks Nail for the trading journal really needed it! Allen July 8, at Thanks Nail for being so genuine. You are a true hero in this business. William June 2, at 8: Thanks Nail for the wonderful write up. Tom May 30, at 4: People that use more than one broker, note in the journal which broker the trades are with? Thanks Nial for the spreadsheet journal, very useful! I have set mine up! Tomson May 18, at 5: Hi Nial, Thanks a lot, I have added one more column to mine also: What happend after Exit?
Anthony May 17, at Thanks Nial, another vital trading tool you have supplied for this community. Rocket May 16, at 9: Nial, Another great article to help us maintain trading discipline and become successful. Zack May 14, at Daljit May 12, at 7: MaxForex May 11, at 9: Keep up the good work! Hamsah May 11, at 2: Very good explaination, thks Nial. Hai Nial, Your article above helped me on the track.
Benard May 8, at I will complet my trading journal with yours. Daniel May 8, at 1: Adam May 7, at 7: Let me briefly explain: Thanks again Nial, God Bless! William May 7, at 5: Hi Limbo, I'm not sure if you want to know how to unzip the file or you are unsure of what to enter in the spreadsheet? Thank you very much for sharing the spread of Trading Journal. Trade Journal Overview will save lots of time. Thank you, very good journal! I think in the long run, I will code one myself, where I cann automatically press a button and it takes a screenshot and so on But for now, very good!
Your effort is sincerely appreciated. Thank you for taking the time out to complete this, I found this after doing a generic google search and I joined this forum just so I could thank you for this!
When I try to use this awesome looking Trade Journal, the "entry price", "stop loss" and "take profit" boxes all have drop down arrows in them on the "Journal page". The drop down boxes instead of containing numerical data have currency pairs listed in them. The boxes won't accept numbers and say "invalid value" when you attempt to enter a number. I hope some others find this useful. Thanks for your journal Stray. Awesome journal, just what I was looking for.
I appreciate your hard work and dedication to create this trade journal. If market breaks out and ends up turning into a breakout trap, your Forex trading journal would have saved you from entering a bad position.
Review it when you have those urges to intervene on an open position, like: Forex trading journals are like having an experienced trader next to you, giving the best advice for each situation.
When you start utilizing the full potential of a Forex trading journal, it becomes your best friend each time a trading decision needs to be made. The Forex trading journal keeps you accountable, forces you to learn from your mistakes and gives you crucial feedback that you need to develop your trading skills. You will have these thoughts fresh in your head the moment you look at the markets. Do everything you can to keep yourself disciplined.
I hope to see you on the other side. Until next time, all the best with your price action trading. Please share this article using the social buttons below. Follow the download button below if you would like to try them out: Hi Forex Guy,I just wanted to let you know how much I appreciated this article.
I've been reading through all these and though I've been impressed by them - I almost skipped this one! I've never taken "journaling" seriously and it's not a topic that really interested me. But after reading your take on it, I see how valuable of a tool it could be to help me improve and be more disciplined in my trading.
Anyway, thanks a million. Use MaxProfit Pro 3. It's the best trading journal software. Hi,In the list above, I assume that by "Signal taken" you are refering to rejection candles, The Indecision Candle, etc. Yes, what ever signal you used to enter the trade. I'm utilizing my log book much better now that I am a swing trader.
Watch your trades come to life, with the Forex Trading Journal Spreadsheet. Expert Analysis and Easy to Use. Record, Analyze, Improve! Trading Journal Spreadsheet and Analysis Software for: Stocks, Options, Futures, Forex traders. Track and Analyze every move you make, with TJS! Jan 06, · Hi Guys, I am new to this forum but thought I would post a template of my trading journal I have just made because after searching the net I couldn't find one that exactly fitted my needs so I made this one. It may stil.