To build the necessary skills, you must have the will to maintain a trading journal. My advice for a helpful trading journal is:Once you know what your trading systems expectancy is, you can act with confidence. Confidence will enable you to execute trades according to your plan. It will keep you from second guessing yourself. Having a trading journal will be an invaluable investment for you and your future trading success.Alex. I think you outdid yourself. Thank you for all the valuable information and doing as you said you would, really means a lot I am going to start using my journal as soon as possible. Hopefully this will force me to be stricter and help me to stick to my trading plan.NOTICE: This website is NOT owned by any binary options company. The information on this site is for educational purposes only and does not claim to be comprehensive or provide legal or other advice. The views expressed in contributor articles or on the forum are expressed by those contributors and do not necessarily reflect the views of MetaBinaryOptions. Articles and other publications on this site are current as of their date of publication and do not necessarily reflect the present law or regulations. MetaBinaryOptions accepts no responsibility for loss which may arise from accessing or reliance on information contained in this site. MetaBinaryOptions is not responsible for the content of external internet sites that link to this site or which are linked from it. USA REGULATION NOTICE: Please note if you are from the USA: some binary options companies are not regulated within the United States. These companies are not supervised, connected or affiliated with any of the regulatory agen.If you love writing on your diary then you will surely enjoy trading. You will also get then chance to keep a diary when you trade. Yes, it may sound boring or corny but with a trading journal, you can be one step higher on your trading goals. You may think that there is nothing worth writing about it, but it is actually a very useful process. Why should you write and what should you write about in your trading journal Here are some reasons why and how you should start writing a trading diary now.Keeping track of Wins and Losses Say for example you have lost a trade, and you become so angry and miserable. You will most likely behave in a very common manner. You will probably jump from trade to another so that you can immediately makeup for your losses. And then you will blame your losses on being unlucky or bad luck and then gets very pissed and so something strange. Another example would be the opposite winning. You have delightfully succeeded, and you behave in a typical manner. You believe that you are invincible, and you think that you had the best strategy, and you feel buying everyone a drink. You might also feel that you will trade more. These are really awful examples, but this will actually happen to you and if you are smart enough to notice none of these behaviors are admirable in the trading world. Why is this so.Simply because there are lessons that you have to learn in every trade you have.It is hard to achieve a useful experience when keep ignoring results and if you do not assess and analyze these results. This is when the need for keeping a diary comes in the picture. One of the best ways to organize and enhance your memory is by keeping a diary or journal. When you come across similar trade opportunities, you can act in a methodical and concise manner. You can do away with similar mistakes, and you can remember the right decisions that you have made in the past. Thus, your anger and celebration can hold because you need to jot down your trades while you still have a fresh memory. By using a journal, you can identify your strengths and weaknesses.Keeping a trading diary is pretty easy. Its just like keeping a diary when you were a kid. You need to have a safe place for your diary. No, its not on a notebook were you need a pen and paper. Times have changed and letting anyone know about what you went through with your trades is ideal. It is best to have a public journal so that you can share your ideas with others, and you can have their ideas as well. There are many online trading forums that you can go to such as Communitraders. Here, you can easily have your own thread. You can make use of this thread as your own trading journal.Moreover, if you choose to write a journal the traditional way, you can always keep a notebook where you can put your notes and experiences. Its always nice to read and re-read your notes before going to bed. You can make your journal as your trading novel.And here you are. They Why and the How in writing a diary for your trading experiences. The more organized and detailed your diary is, the more convenient it is for you to follow and learn from.Binary options trading has long existed over-the-counter, only experiencing a massive growth spurt in the last few years. Now, approximately 90 companies (including those who white label their products) offer some sort of binary options trading service.One of the great things about binary options trading is that you always know the exact maximum gain or loss in advance. The trader controls the premium at risk to enter the binary option trade, and that is the only amount that can absolutely be lost. Most binary option brokers even allow you to cut your max loss by folding your trades ahead of expiration after certain types of trade conditions have been met.In contrast, with spot forex, even with a stop loss order set, you cannot be 100 certain that you will lose only the pre-calculated amount that you risked. While improbable, theres always the chance that certain issues may affect your final max risk like slippage, lack of liquidity to execute a stop order at the desired price, a brokers trading platform goes down, etc.Even if you have an idea of how a market might behave within a certain time frame, you may not have the best option available to you to play your idea.
