Instructions
Step 1
All the successful traders keep a personal journal of their trading activities. You should write down why you took a certain stock or forex trade. How you felt about the trade in your mind and what emotions were involved. Did I trade out of boredom,was I excited about the trade.Ask yourself how you felt about the buy and exit strategies and write it in the trading notes of the journal. Is tension driving you from being relaxed ,write down how you feel.
Step 2
You should and stay positive weather it was a winning trade or a losing trade. Write down what emotions you had at the time of the trade this is important to keep you focused and on track to be successful at trading. How to react to a trade is important,to keep your emotions from getting out of control. Ask yourself and write it down. Did I follow my trading plan? Did I enter the trade from my chart indicators? Did I enter my stop loss properly? Did I take profits and not get greedy (pigs get slaughtered). All this is important if you want to make profits from trading the markets.
Step 3
All this will help you become a disciplined currency or stock market trader. A trade book will help keep the fear of failure out of your head. You need to stay relaxed and cut your losses and let the runners run. An investment trade journal will help with these emotions and reduce the anxiety you feel during a forex or stock trade.
Sunday, August 9, 2009
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