The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. What If Forex trading journal blog site Only Took 4 Trades a Month?
What’s Your New Year Trading Resolution? Nial Fuller’s Price Action Forex Trading Course. I want to learn trading so bad. Thank you very much for these eye opening lessons. Thanks for this week’s out look. Thanks Nail for this very useful article.
Thanks, Nial, for the next ideas. Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors.
The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition. In last week’s article I discussed what a typical day in the life of a professional Forex trader is like. I am going to first explain to you why having a Forex trading journal is essential to becoming a professional trader, and then I am going to show you what my trading journal looks like so that you get an idea of how to make your own. If Your Impatient and Can’t wait to the end of this article.
I Track All My Trades Using This Spreadsheet. Pay it forward and share it around with other traders. Why do I need a Forex trading journal Nial? First off, you need a trading journal because you need to track your trading performance over time. Next, developing a track record is something you should take pride and pleasure in doing.
If you have a tangible track record that shows your ability to be consistent and disciplined over time, you won’t want to mess up this display of mental strength by committing emotional or stupid trading mistakes. Finally, as we discussed in last week’s article about a day in the life of a pro trader, your trading should be a routine. Creating and maintaining a trading journal gives you the structure required to build your trading routine on and it also helps you examine and focus on each individual element of a trade, which we will discuss below. What should my trading journal include and how do I make one? The images below are actual screen shots of my trading journal. I took, although it was a good price trading action setup.
If the order never gets filled just delete it from you journal. If you are unsure which currency pairs are best to trade, check out this article: best Forex currency pairs to trade? Planned Stop and Planned Target: You will put your pre-determined stop and target price in these boxes. It’s very important to pre-define your stop level and target level.