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 1)  Read This First

 

 2)  Why SO IMPORTANT To Keep A Trading Journal ?

 

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Posts Tagged ‘keeping a trading journal to succeed with forex trading’

Why Is It VERY IMPORTANT To Keep A Trading Journal While Trying To Succeed With Your Forex Trading ?

If You are still trying to achieve ” Consistent Winning ” in Your trading

but it seems almost Impossible for You………because :

1)  Although You tend to Win a few times now…..

2)  but in no time, You would Lose back all the Profit again

over the next few trades…!

When You win….no issue at all

…the ” ( always ) Worrying ” thing comes whenever You encountered LOSSES….

( could be due to Stop-Loss being hit or You CUT the trade due to FEAR ….etc )

& whenever the above happened…….

……=> MORE Losses would follow suit ….( most of the time ) !!

Having the opportunity to communicate with over 10,000+ newbies so far

( since started this blog back in 2009 )

I dare say that this is  literally the ” biggest Obstacle ” with majority of the traders

while trying to achieve ” Winning Consistency ” in their trading

simply because =>  Your ability to ” Manage Your Emotion ” is still NOT there yet

that’s why !!

Not just for newbie though, even for Professional Traders ( including myself )

we are also affected by FEAR & GREED too ( constantly )

but the ” major difference ” is that we can HANDLE

our ” Emotional ( Demons ) ” much better now

over Years of ” Trainings ” !

Of course, it is certainly NOT easy for anyone to be aware

of the ” Real Emotions ” one is having

because whenever being HIT with Losses

our ” Emotional’s Demons ” would OVERPOWER us

and led us to do very IMPULSIVE & FOOLISH decisions

that would cause us to LOSE….again & again !

More Critically……once that ” Fatal Phase ” has started

it would be VERY HARD to stop

because ” ANGER, DESPERATION , FRUSTRATION & TAKING REVENGE “

would OVERPOWER US !

And all we care about then is to RECOVER OUR LOSSES…..ASAP !

We don’t give a heck about what’s the ( BIG ) RISK involved at all….anymore !

We are basically having a ” Suicidal Trading ” kind of Mindset ……that means…..!

But IF You can simply ” STOP ” when You sensed

such ” Emotional Demons ” in You COMING SOON….

You can actually AVOID a ” Spiral CRASH ” end of the day

which means You are GOING to at least ” PRESERVE ” Your Previous Capital

and still have ENOUGH BULLETS to FIGHT BACK AGAIN

in order to ” Recover ” Your previous losses

when Your MENTAL & EMOTION are back to ” Normal ” again !!

Makes sense at all to You ?

More Crucially………

Are You even AWARE of such

” Emotional’s Demons ” in You

( so far ) ??

Last time during my newbie’s days   ( back in 2006 / 2007 period )

I was a victim of my own ” Emotional’s Demons ” too

That’s why I have to FORCE myself to start keeping a Trading Journal

and whenever I experienced ” Losses “…..

( or any ” undesirable situation ” that would REDUCE my PROFIT …)

…..I will then ( IMMEDIATELY ) write down my ” Emotions & How I Am FEELING ”

so that I can actually SEE the kind of ” Emotional STATE ” I am having then !

Why Bother WRITING DOWN ?

I can ” SEE My REAL EMOTION ” BETTER….That’s Why !

Because when We are ( Very ) ANGRY or FRUSTRATED

especially after LOSING MONEY

….we would be BLINDED to other ” CRITICAL CONSIDERATIONS “

which we should REALLY CAREFULLY consider FIRST…..( such what RISK ) !!

If You are still NOT achieving ” Consistent Winnings ” till date

please start keeping a Trading Journal TODAY

Trust me, You will see IMPROVEMENT & More ( Consistent ) Trading PROFIT….. in no time

once You are ABLE to IDENTIFY => Your ” REAL EMOTIONAL’S DEMONS “

….when being hit with Losses !

And from then , You can take steps to BETTER Manage Your ” Emotions + Psychology ” !

🙂

Don’t believe it is Very Effective ?

Try it to see for Yourself !

I would Not even recommend it in the very first place

if it is not Effective at all….right !!

🙂


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