The practice of keeping trading journals did not exist in the early days but some form of it has been in existence since some time. The latest form is trading journal tools that are available for traders to purchase and benefit from them. Traders that are smart and wish to become successful in their field know that maintaining trading journals is the way to go and become a better trader.
You first need an effective and efficient trading journal tool so click to read and after you are done the reading that, let us move on to talk about tips that we have prepared for you. They will help you maintain your trading journal and we feel that these tips are important as traders often find it difficult to maintain their journals and get benefits from them.
The best tip is to never leave the journal writing till the last moment. You need to start entry of each trade before you even start it and only end the entry once you are completely done with the trade. It is necessary that you maintain your trading journal throughout the whole trade.
Often traders forgo details but you need to remember that every detail matters as that will help you later when you are trying to improve yourself. The best practice is, to be honest about every single detail. You need to write down everything that you did in an honest manner. Even if you procrastinated whilst you were supposed to be working, you forgot to exit your trade or any other detail, you need to put that in.
You not only need to write down your own emotions and actions, but you also need to put in information about the market and its changes.