Forex Trading Pricing Theories

1
My Forex Trading
World Financial Freedom
Trading Journals
One advantage in keeping a diary is that you
become aware with reassuring clarity of the
changes which you constantly suffer and which in
a general way are naturally believed, surmised,
and admitted by you, but which youll
unconsciously deny when it comes to the point of
gaining hope or peace from such an admission.
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Keep a trading journal.
When you first hear it, you say to yourself,
Yeah, right. Ill keep a journal like a
13-year-old girl, and just forget about it. At
least thats what I did. Then youll have losing
trades or maybe youll see that magic number 0
in your equity column, and youll decide to give
it a try. Here is an example from one of my early
journals
Entered 1 unit EUR/USD long at 1.23 according to
the strategy, take profit is placed at 1.2380,
stop loss is working at 1.2260.
Got stopped at 1.2260.
After writing a few pages in a couple of days, I
decided to go back and read it. Naturally I
couldnt read more than half a page. It was like
reading a journal like this
I got up today, took a shower, made coffee, read
the newspaper, went to the office, ate lunch,
came back home, had dinner, watched a movie,
brushed my teeth, went to bed.
3
I figured out this was not the right way to do
it. Trading journals shouldnt be just trading
history. You can easily import that from your
trading platform. But your platform cant tell
you how you felt before, during and after the
trade. Like every other journal, if you want to
benefit from it, you should track your deepest
emotions and put them in ink. They may even
include the minor details like weather
conditions. (If youre a better trader in sunny
days, you may start thinking about moving to
California.)
Confused
I realized a while ago that whenever I write this
word, whenever my mind is not clear, I make
mistakes. I read the signals wrong or jump too
early or too late. But somehow in the long run I
didnt benefit from these trades. Its something
that charts and my trading history will never
show.
4
There are two faces of my trading. One side is
technical with rigid rules. It depends on
different variables, statistics, backtests, live
tests And it is simpler to correct them. You
cant argue with math at the end of the day. But
the psychological side is much more important for
me, and its the side of trading thats difficult
to change. I think keeping journals is the best
way to change your mindset and become a
profitable trader.
Do you have some profitable examples from your
journals? Please share with us.
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My Forex Trading World