Excel forex trading journal
affects the mind. As you learn to trade Forex, its important to keep a trading journal so that you can learn what works and what doesnt; it also helps you develop a track record and keeps you accountable. So, when deciding on your trading desk and the area you will trade in; make sure you arrange it to be as clutter-free and clean as possible. Music is another big factor in creating the right trading atmosphere, if you need to relax and drown out the distractions that might be taking place in your house, put on some relaxing music like jazz or classical, put on some headphones if you need. You cannot afford to have a slow internet connection or an unreliable one while trading. Some of the other random office products that you might need include things like post-it notes, a stapler, and a trading journal or perhaps a binder.
You can think of your trading journal as a constant and tangible reminder that your trading performance is measured over a series of trades. If you have a tangible track record that shows your ability to be consistent and disciplined over time, you wont want to mess up this display of mental strength by committing emotional or stupid trading mistakes. Its very important to your long-term trading performance that you have a proper area in your house to trade from, because your environment has a direct influence on your mindset, and your mindset has a huge affect on your overall trading performance. Setup: What was the setup / why did you take the trade? There is no need to rush out and spend money on premium charting platforms or data feeds; most of what you will need is available online for free. 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. They all loved it, and more importantly, they benefited from the analysis it provided, and were adamant that it should be available to other aspiring traders.
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