This is a must for serious traders out there...
Here are a few basic notes you should put in when doing your trades. Just document your trading activities...
1. Market Conditions - Just note volatility, trends, etc...
2. Entry Reason, Time and Price - Without a reason, you shouldn't be in that trade.
3. Exit Reason, Time and Price - Same. No reason, don't trade at all.
4. Long or Short Trade - Mostly this is long for the Philippine Stock Exchange. Short trading isn't allowed. But for other markets, please indicate whether you went in long or short.
5. Conditions during the Trade - What happened to the market during the trade? Was it favorable or not to your trade? Write it down.
6. Money Management -Write your position sizing, etc..
7. Chart Attachment - Attach the charts you used when you made the decisions.
8. Day's Weaknesses - Recognize the patterns in the day that made things hard for you. Where there a lot of distractions that kept you from trading properly?
9. Day's Strengths - Recognize the patterns that made things work for you. What made you focus etc.. that made you do well?
10. Any other thoughts - Place anything you feel is worth noting.
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