Beginners are always interested in how to work successfully in the Forex market and gain the necessary experience. Do professionals have the answer to this - keeping a diary! Every good trader must keep a diary. Must record their successes and failures. It is always useful, as history always repeats itself.
With this statement did not argue! The market is always all over again! This is one of the foundations of technical analysis. Still, it is not about history. Let's try to understand and see whether the diary is important for traders, especially beginners.
Keeping a diary - rather the question of psychology in trading. And often, that psychology is a source of error in the Forex market. So use diary obvious.
Diary format can be any - from the classic "paper", to text documents on your computer, and can be recorded on a web camera . Incidentally huge selection of web cameras for every taste and budget can be found on the company's website SotMarket. Variety of cameras in the form and filling to satisfy the most demanding customers.
No doubt, every trader must be disciplined. All trades trader should only be carried out on the basis of the trading strategy, and not under the influence of emotions.
Neither trading strategy is not 100 percent guarantee of the correctness of the transaction. The ideal strategy ratio of correct and incorrect signals is approximately 7:3. Knowledgeable trader is aware of this and do not let your emotions win over a top, and trades on well honed strategy.
But without the discipline of the trader waits for trouble! The system displays the correct message to the commission, and the trader is afraid to enter into a transaction. Because he, allegedly, the last time the strategy according to the signal came in the deal, and it was unprofitable.
Once a trader there are such doubts, his career could be in jeopardy. Any, even the best trading system time to time with the trader to the wrong signals. That's the whole point - you can not anticipate the true signal or prove incorrect. But you know the approximate trader profits when trading with the help of his system. It is for this purpose and is designed to strictly follow it, not ignore half the signals due to apprehension.
In that case if you succumb to emotions, then about what statistics and systematic profits it will not have to go. Because you inadvertently give up your trading system. Now possible success in your trading will depend on a happy occasion.
Over time, a system that brings a steady income, can be much less profitable, and perhaps even become unprofitable. This is inevitable, because the world is changing! Therefore, it may soon come a time when your trading system will require quite a strong optimization. There are times when the system needs to be changed completely. But this issue should be addressed with a cool head and not based on emotions!
The trading system should reflect the criteria by which it will be deprecated. For example, if the statistics for the year it is losing money, you need a system to replace. But this does not mean that as soon as the transaction closed at a loss, you will be anxious to change something in their system.
Only discipline will help the trader to become a professional. Diary - is the first tool for the education discipline.
Opening a position to buy or to sell, better even before it opened, the trader must make an entry in his diary, describing it cause the opening of the transaction. Here and find out what has been dictated by your decision - signals trading system or emotions. It also happens that, as an entry in the diary, it is clear that the decision to open the transaction was a mistake.
After closing every trader should make a diary entry on the results. After analyzing all the action - whether all was right and what went wrong. Most important to analyze the transaction failed: what causes errors, and what conclusions can be drawn?
Diary also helps the trader to develop the skills of logical thinking, and analysis. From the diary learning process much faster.
To summarize, the question of whether the trader to keep a diary of professionals answer is simple - NEED!
With this statement did not argue! The market is always all over again! This is one of the foundations of technical analysis. Still, it is not about history. Let's try to understand and see whether the diary is important for traders, especially beginners.
Keeping a diary - rather the question of psychology in trading. And often, that psychology is a source of error in the Forex market. So use diary obvious.
Diary format can be any - from the classic "paper", to text documents on your computer, and can be recorded on a web camera . Incidentally huge selection of web cameras for every taste and budget can be found on the company's website SotMarket. Variety of cameras in the form and filling to satisfy the most demanding customers.
No doubt, every trader must be disciplined. All trades trader should only be carried out on the basis of the trading strategy, and not under the influence of emotions.
Neither trading strategy is not 100 percent guarantee of the correctness of the transaction. The ideal strategy ratio of correct and incorrect signals is approximately 7:3. Knowledgeable trader is aware of this and do not let your emotions win over a top, and trades on well honed strategy.
But without the discipline of the trader waits for trouble! The system displays the correct message to the commission, and the trader is afraid to enter into a transaction. Because he, allegedly, the last time the strategy according to the signal came in the deal, and it was unprofitable.
Once a trader there are such doubts, his career could be in jeopardy. Any, even the best trading system time to time with the trader to the wrong signals. That's the whole point - you can not anticipate the true signal or prove incorrect. But you know the approximate trader profits when trading with the help of his system. It is for this purpose and is designed to strictly follow it, not ignore half the signals due to apprehension.
In that case if you succumb to emotions, then about what statistics and systematic profits it will not have to go. Because you inadvertently give up your trading system. Now possible success in your trading will depend on a happy occasion.
Over time, a system that brings a steady income, can be much less profitable, and perhaps even become unprofitable. This is inevitable, because the world is changing! Therefore, it may soon come a time when your trading system will require quite a strong optimization. There are times when the system needs to be changed completely. But this issue should be addressed with a cool head and not based on emotions!
The trading system should reflect the criteria by which it will be deprecated. For example, if the statistics for the year it is losing money, you need a system to replace. But this does not mean that as soon as the transaction closed at a loss, you will be anxious to change something in their system.
Only discipline will help the trader to become a professional. Diary - is the first tool for the education discipline.
Opening a position to buy or to sell, better even before it opened, the trader must make an entry in his diary, describing it cause the opening of the transaction. Here and find out what has been dictated by your decision - signals trading system or emotions. It also happens that, as an entry in the diary, it is clear that the decision to open the transaction was a mistake.
After closing every trader should make a diary entry on the results. After analyzing all the action - whether all was right and what went wrong. Most important to analyze the transaction failed: what causes errors, and what conclusions can be drawn?
Diary also helps the trader to develop the skills of logical thinking, and analysis. From the diary learning process much faster.
To summarize, the question of whether the trader to keep a diary of professionals answer is simple - NEED!