But predicting trades is rarely productive and could even cause deep drawdowns in your account. Essentially, Forex trading success is the result of doing a lot of things the right way every time you interact with the market, and a Forex trading journal helps you do everything the right way every time you trade. However, the Fixed TP Variant did well enough, while the Trailing Variant only suffered a light scratch. 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.
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Total P/L: How much total money you made or lost on the trade. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. About Nial Fuller Nial Fuller is a Professional Trader Author who is considered The Authority on Price Action Trading. Security / FX pair: The particular security traded, this will either be a currency pair or Gold / Silver for most. Position size (lots Your position size on the trade, or the number of micro / mini / standard lots being traded. Having this type of reminder is very important, especially early-on in your trading career, it helps keep you focused and it helps to remove any emotion you might attach to any one trade. Planned R:R : What was the pre-defined risk reward ratio of the trade? Should You Predict Forex Price Action? See how it all went down in todays Cowabunga Surf Report. What should my trading journal include and how do I make one?
Please Make a comment after reading this article and Click The Facebook Like Button, Pay it forward and share it around with other traders. 12 16) by, the trading week is done and a new one will soon begin, which means that its time to take stock of how the two Variants of the Happy Hunter Price Action Trading System fared this past week. By, after a sideways Summer, AUD/NZD is finally back on the move to the downside in the past couple of weeks. If the order never gets filled just delete it from you journal.