Having a trading journal enables you to keep track of your performance as a trader by documenting all of your trades. You can review your journal later to make improvements on your trading activities as you learn from your unsuccessful and successful trades. Making records of your trading transaction progress allows you to review your errors when closing and opening a position.
It also helps to adhere to a trading plan to improve your ability to make better executions in the future. A trading journal isn't just a list of all your trade transactions. You can also use it to write down your emotions, observations, and thoughts. Remember the importance of taking notes on your observations right away so you don't forget anything.
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Profit and Loss Planning
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