What should be in your trade journal?
Chart analysis
During chart analysis I like to observe the behaviour of candles:
-the structure they form (breaking highs/lows)
-how they move at the start of the hour/new M30
-what happens when they touch a key level
-how many times they touch a key level
-how they form within a specific time of the session
and more.....
Its not always easy to remember each movement of a candle after they've formed. Making up-to date notes can allow you to see patterns and recognising repeating behaviours can help you with your analysis and plan ahead
Candles are just one part of chart analysis that I journal and make notes of as they play a big role within my trading strategy
The point is to make notes of what is happening on the chart. Journal things that are of importance to your strategy and analysis in real time so you can learn and make the best decisions based on what you see
Thoughts + Emotions
Journaling what you are thinking is also a very overlooked part of trading.
Writing down what's on your mind throughout your session can help you identify what thoughts can trigger you take certain actions.
Scenario:
Price might be moving quickly in the direction you want, the candle has passed your entry but you don't want to miss the move so you just enter a trade to get a little something out of it.
You can identify that you felt FOMO because you didn't want to miss the move, what could you have done instead?
Wait for a pullback and a get another entry. Now you can make plan of action for the next time you think price is moving without you
Journaling your thoughts before taking action can make you aware of your triggers. Once you are aware of your triggers you can make a plan to avoid making mistakes in the future
Conclusion
Trade journaling is important because it allows you review specific details of chart analysis and price action that occurred during your session
Also being able to go back and review your thoughts ad correct negative trading behaviour will ultimately make you a better trader
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