Maintaining a trading journal allows you to monitor your various economic events throughout your investment journey. Once you start noting down all the details about the market tendencies, you would be able to see a distinct pattern that helps you drive higher profitable returns on each investment. For day traders it might be quite hectic to maintain a daily diary, as they purchase short-term shares and sell it off within a 24-hour period. When you have a shortage of time, writing everything down on a piece of paper can be counterproductive. This is the reason most day traders purchase highly specialized software that allows them to keep track of their progress on a virtual platform. Adding trend lines and sketches to your trade log is highly important, as that would help you recall the exact conditions of a particular investment that you made in the past. Taking screenshots of your charts is also important, so that you can utilize your time and energy on other profitable forex trades in the market.
At the end of each investment period, make sure to review all the past transactions that can help you highlight the points that need improvements in the future trades. If you are searching for a sustainable day trading journal program, then make sure to check out reviews about the best software on the website of Foxy Trades now for more information.
There is no guaranteed rule of thriving in the forex trade market, but by staying consistent for a long time period you can gradually increase your assets. Make sure to avoid applying any gambling principles in your stocks investment, as you need to be able to make accurate predictions. Make sure to discontinue your investment in a trade with the worse performing setup.