{"id":397849,"date":"2020-12-11T10:27:14","date_gmt":"2020-12-11T09:27:14","guid":{"rendered":"https:\/\/ftmo.com\/?p=397849"},"modified":"2022-01-11T17:46:28","modified_gmt":"2022-01-11T16:46:28","slug":"trading-journal-its-a-must","status":"publish","type":"post","link":"https:\/\/ftmo.com\/en\/trading-journal-its-a-must\/","title":{"rendered":"Trading Journal? It’s a must."},"content":{"rendered":"
Trading is no different from any other business. You risk some money to make more money. But since retail trading is in most cases done from home, traders tend to have a\u00a0 very lazy attitude to keeping records about their trading activities. In this article, we will have a\u00a0 look at why journaling is so important and how you can journal for free with our FTMO Trading Journal.<\/em><\/p>\n We know that journaling might not be the most fun activity to do, but we as traders tend to do a lot of mistakes and in order to fix them, we have to document them so we won’t forget about them easily.<\/p>\n Another reason for keeping a journal is to keep statistics on different strategies and markets you are trading.<\/p>\n If you are for example profitable on EURUSD, there is no certainty that the same strategy will work on Gold.<\/p>\n Or if you trade the two completely different strategies, your journal can show you some very interesting statistics.<\/p>\n For example, the first strategy can have 80% strike rate and the second one only 50%.<\/p>\n If this was the case, would it make sense to risk the same % amount on these tho strategies? Not really.<\/p>\n It makes perfect sense to increase your risk a little bit if you know that the given strategy will perform better.<\/p>\n Journaling is the same as any other habit, you will get used to it.<\/p>\n There are generally two types of trading journals you can keep.<\/p>\n If you are a swing trader and you try to hold your trade for at least a whole trading day, you probably won’t open more than 5-10 trades in a day.<\/p>\n If this is your case, you really should journal all your positions.<\/p>\n You will quickly find out that putting down a few notes about your trade doesn’t take that much time and you will get excellent value from it.<\/p>\n Here is a chart screenshot example of how your trade can look like.<\/p>\n Before the Entry:<\/strong><\/p>\n After the Entry:<\/strong><\/p>\n All you have to do once the trade is closed is document it inside the FTMO Trading Journal.<\/p>\nWhy you should be keeping a Trading Journal<\/h2>\n
Journaling for swing traders<\/h3>\n
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