Do you keep a diary at home, so that you will be able to remember what you have done in the past when you read it? It goes the same for a forex trading diary. If you have realized, the diary could well be a forex trading tutorial to you, as it allows you to spot mistakes and repeat what you have successfully done.
It is always good to keep a trading diary no matter you are a newbie or experienced trader. For me, I have a blog not only to help me keep track of all my trades, but I can also review the forex trading system that I used for certain trades, and see which systems suits me the most. Then after some time, I found out the forex trading signals that were generated by some of my forex indicators were very useful and I'll always look out for those trade setups.
All traders will make mistakes in trading, so if you don't take down the mistakes, you would probably repeat it again. For example, if you are chasing after the price, you can write down: 'I'm too eager to trade on this date at this time, therefore I chased after the price, and my trade got triggered by the stop loss'. You can take down the forex trading strategies that you have taken to win a trade, so what you have to do is to repeat it. Have a section on forex trading tips, so you can refer to it every time you trade, and this will help you to follow the rules of the trading system. Sounds like a forex trading guide isn't it?
You can probably take a screenshot of the chart when you opened and closed a position, take notes on your state of mind during that time and write in your trading diary why you had opened and closed your position. This can be very valuable to you in the future. It helps you grow as a trader and make better trades next time. Even if you are using an automated forex trading system, you can write down the mistakes made by the system and you can improve it next time. For me, I'm trading manually, so I will take down some of the forex trading techniques which I can keep on using and repeating it for success.
I have been trading for years and I realized that the best forex trading system is not just having a successful system, but also consists of a trading diary to keep track of my trading success. If you want to know more on how to trade forex successfully, you can find the right education by getting forex tips, forex day trading signals and strategy from my FREE forex ebook.
How to Make Money Online - Trade Forex to Grow Rich
Trade the forex market or currency market can be a highly profitable experience. Learning to trade forex right is the first step to gain possible riches on what could be an enriching journey. To do that, you'll need to know these 2 factors of how a forex trading system can bring success to you and how it should be done.
Learn to Trade Forex and Start Making Money Online Now
If you are thinking about making money online using forex trading, you may want to consider a free forex ebook that can supply you with some basic information and get you on track in your new endeavor. There are plenty of helpful hints and forex trading tips in them that are the basis of trading that you need to know about.
Forex Trading Scams and the Great Hunt For Best Forex System
When you look at the most successful forex traders, most depend upon an effective forex trading system that has proven time and time again to be profitable for them. Every forex trader will need a good forex trading system to help them make consistent profits from the forex market. But how do you select the best forex system that suits you, especially the internet is full of scams and false claims? Well, here are some forex tips that can help you on your hunt for good forex systems:
