If you are trader (whatever it is - stock/options/future/forex) and never had your trading journal started, this is my genuine advice - Start it now!

If you are trader (whatever it is - stock/options/future/forex) and never had your trading journal started, this is my genuine advice - Start it now! And do not wait!

Trading journal is one of the utmost criteria for a successful trader, of course, it is equally important for the entire beginner trader. But from the start, you will be definitely facing discipline issue as recording down every single trade is not an easy task for every one, especially for a person that is not very well organized for his stuff.

But once you started it, you will start to see more results, it is just a like a journal, to understand yourself better. A trading journal will let you understand yourself more about your trading style and behavior.

Then why do we need to have trading journal? The reasons are simple:

1. First, it gave you more time to think before you enter your trade while you still entering data in your trading journal before entering the market. Many times, you realized that your trade is based on emotion more than analysis. Give yourself a valid reason why you enter the trade and what is your exit strategy.

2. Second, it provides reference information when you trace back why did you enter the trade in the first place. Whether the result is making profit or loss, your record is important for you to know what you did right and what you did wrong.

3. Lastly, to calculate the profit/loss in a systematic way, as well as providing a performance chart for yourself to track your profit/loss, as well as your winning/losing trade ratio, etc.
If you are excel expert, you can make a simple trading journal by using excel. If you are not, and would like to use what the expert promotes - here is one for you.

You can find out more from TraderWork.com

I love options trading and I am here to share my humble experiences so that you can be benefited from it. You can find out more from http://traderwork.com/ . Always trade with your passion! Cheers!

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