A successful trader, almost always has his own journal that contains all the records of their trading activities which are detailed and carefully written, usually called Trading Journal. As you know, trading journal is like a diary that contains a record of the trader's journey complete with all the steps that have been taken. Then, does having trading journal is an obligation for a trader, especially for novice traders who are learning to trade? The answer is of course not mandatory. However, trading journals can be very valuable for those of you who want to increase trading skills quickly. Want to know why? Here I will explain the reasons :

Trading History

Experience is the best teacher. The proverb is very suitable to describe the most important function of trading journal, which is to record all trading activities that you have done. A good trading journal will contain a detailed trading history, complete with reasons and analysis and thoughts you did behind it. By reviewing these notes, those of you who are studying trading will be able to find trading errors that you have done along with their effects. That way, you won't repeat the same mistakes later.

Helping Make a Trading Plan

By learning the mistakes and steps of trading in the past, you will find it easier to develop your next trading strategy. Because, you already know things like what you can and cannot do. That way, in addition to containing a history of trading history that has occurred, good trading journal must also be filled with targets and trading plans that can be a guide for you in making further trades.

The trading plan created is also not allowed to be arbitrary or just fixated on trading journals that you have just made, but also must be based on the new knowledge you get from trading trainings, books that are read, and advice from mentors you trust. Many things are certainly a consideration if you want to have a good and profitable trading plan.

Evaluation of Self-Trading Habits

One of the most important uses of trading journal is that trading journals can 'force' you to abandon bad trading habits and turn them into good ones. The longer you are accustomed to following the trading plans and strategies you have made, the more disciplined you will become. Change the old habits maybe one of the most annoying, just imagine a child who is not allowed to run when playing. It will be very difficult for you not to do things that are "normal" you do. But, to maintain and maintain your account, maybe that's what you have to do. LEAVE YOUR BAD HABITS NOW!
Winning in trading will no longer feel like luck and loss or loss in trading has become a part that no longer makes you anxious. The existence of concrete evidence that certain trading strategies are better than other strategies will make you more confident in developing the best trading strategies and running them.

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