Five reasons for maintaining the foreign exchange transaction log

Most expert traders keep trading logs and occasionally review their content.

Do you know what most expert traders are? Although some of them do not acknowledge this

They are professionals! They have money. They have a car. They have clothes. They have ice. We may be a bit exaggerated, but it's just a little bit.

Besides taking you to a career level, keeping a journal also has other benefits

• Positioning you and your living conditions
• Moving towards the goals set in your trading plan
• Identify your strengths and weaknesses when dealing with stress
• Provide ways for self training and improvement

The last sentence is the most important because Globalforeign exchangeEvery visitor to the internet and Wall Street trader takes a different path. Not everyone has obtained a master's or doctoral degree in mathematics, computer science, financial engineering, or similar disciplines, and then works in financial institutions or real estate trading institutions.

We are all ordinary people who self-study at home or where we can find an internet connection. This means we need to learn from scratch how to trade and how to form our own trading methods.

Fortunately, thanks to the Internet and trading forums, we can learn and meet like-minded people, whether they are novices or veterans, which can help us shorten the learning curve. Nevertheless, most of us find it difficult to have the opportunity to quickly and effectively learn trading examples and techniques: having a coach or mentor.

A coach or mentor can guide you through every step, point out your mistakes, identify areas where you did well, and help you follow principles and achieve stable performance. It is difficult for new traders to encounter capable mentors, so we need to find the best alternative: self teaching through trading logs.

Keeping well kept and detailed transaction logs, as well as having a coach watching and teaching you from behind, is equally good. Keeping transaction logs may seem boring and time-consuming, but traders gain more knowledge by reviewing them than by reading books or attending seminars.

After a period of time, the volume of transaction logs will increase if everything that happened during the transaction is recorded in detail(Psychological and market environment. System maintenance tools, etc)You can learn important courses from them, such as:

• Those news events need to be avoided
• What should be the risk of each transaction
• When should you enter and exit

In addition, whether you can persist in keeping transaction logs will indicate whether you can achieve success in the transaction.