Subject: Why You Should Be Journaling Your Trades
Hi Folks.
First, a quick thank you to those of you who snapped up copies of the 2019 Forex Power Trading Journal. I managed to find good homes for about half of the copies that are on the way to my front door, which means I still have 25 or so copies left (another sale came in as I was typing this so I think that puts me right at 25).
All proceeds from the sale of these copies (50 in all) are going to be put towards gifts for an orphan I am sponsoring again this year at Christmas. This is my third year of doing this and it is honestly the best part of my year, even when you factor in some stellar winning streaks in my Forex trades.
I did get a few emails from people who cheered me on but admitted they did not journal and had no intention to start.
That's okay. I get it. Journaling forces you to be brutally honest with yourself and frankly, I'd rather not stare into that particular mirror very long myself. I've never been one for counseling or opening myself up to blunt criticism, particularly from myself.
But if you can overcome that particular hurdle, journaling your trades, particularly the losing trades, can be one of the most rewarding experiences of your life, both financially and emotionally.
The whole idea behind dissecting your losing trades one by one is that most of the time you're going to figure out the loss was avoidable and the only reason you lost in the first place is you screwed up somewhere along the line.
What I mean by that is "x" number of losses can be directly attributable to you "cheating" on the trade method you are using to spot entries and exits. Maybe you jumped the gun and didn't wait for all your indicators to align properly. Maybe you saw price approaching a line of support or resistance and just assumed price would break through rather than waiting for it to actually make that break. Maybe you discarded your rules and just took a Las Vegas style flyer on a trade you had no business taking in the first place.
If you will be honest with yourself and list all the reasons you lost any one particular trade, over a very brief period of time you are going to start noticing a pattern. You'll notice there are one or two recurring reasons for the loss that pop up time after time after time.
That means you now know what the problem is. Step Two is fixing it.
And fixing it simple means you put an extra rule or two in place (or put more emphasis on an existing rule) to remind you to NOT do whatever it is you were doing in the past.
Once you've done that and enforced that new rule upon yourself, you're going to lose fewer trades. That means even if you don't win any more trades than you are already winning, your account is going to start growing noticeably.
The great part is you really probably only need to journal for a few weeks at the most in order to identify and fix the problem areas in your trading. So don't worry about forcing yourself into a life of brain melting self examination. A few weeks is usually enough. And should you find yourself slipping back into some old bad habits or picking up some new ones) a couple of weeks of journaling will usually be enough to put you back on track.
So to make this exercise as painless as possible I've put together the 2019 Forex Power Trading Journal. This journal covers every day of the week that trading is (or should be) open and it consists primarily of check boxes and fill in the blanks, making this as easy as possoble for you to keep track of and analyze your trades. Each day has a few lines where you can make some notes to yourself about the trades and try and identify the factors that lead to the trade failing to make any money.
By reviewing your notes at the end of the day and over the weekend for a few moments, you'll quickly begin to see the weak areas in your trading and you can begin to take steps to shore those up.
I have 50 copies of the Journal headed my way and my plan is to sell them as quickly as I can to finance a Christmas shopping trip for an orphan I am buying for this year. If you want to help me out and at the same time help yourself out by seeing the results of your trading quickly move into the Profit column and stay there indefinitely, go to http://fxscalpingacademy.com/journaling and pick up a copy while there are still a few remaining.
PLEASE NOTE: I CAN ONLY SHIP HARD COPIES TO BUYERS IN THE USA AND CANADA. IF YOU LIVE OUTSIDE THE USA OR CANADA BUT STILL WANT TO PARTICIPATE, YOU CAN PURCHASE HERE AND I CAN EMAIL YOU THE PDF WHICH YOU CAN PRINT OUT AT HOME, OR JUST BE PATIENT FOR A FEW MORE DAYS AND I WILL SEND OUT THE AMAZON LINK TO EVERYONE ONCE THE BOOK BECOMES AVAILABLE ONLINE.
That link again is http://fxscalpingacademy.com/journaling
Jeff
P.S.-- Watch for another email from me later on this afternoon for a completely different offer that might be more what you are looking for.