Is a trading journal necessary?
A trading journal in trading involves recording the behaviors, actions, and trading activities of a trader on a daily, weekly, or monthly basis. This helps each trader gradually learn from their mistakes and losses, and maximize the actions that lead to success.
Keeping a trading journal and reviewing it is similar to:
• Analyzing observations: Observing and examining whether your analytical skills are reasonable. Did you break any rules?
• Psychological review: Reviewing your behaviors after entering a trade. Did you manage your capital? How were your psychological behaviors before and after entering a trade?
• Ego observation: Observing your thoughts, greed, and fear when a trade is active. How excited or fearful were you? What was the intensity and level of fear? How was the trade volume?
Regularly observing bad trading habits is like daily practice to eliminate bad habits that do not yield good trading results. This helps each individual gradually improve their good trading behaviors in the future. This is self-correction in the trading journey.
Therefore, daily recording of trading behaviors that lead to poor results, as well as good trading results, will significantly improve your trading outcomes and gradually perfect yourself, developing yourself every day.
#BTC☀ #ETHETFS #Uptrend #cryptotrade #Binance $BTC $ETH $SUI