I was reading an article about trading psychology where the author encourage traders to have “Psychology Journal” to record one’s psychological situation while trading. She claimed that this journal helps the trader to track his/her psychological symptoms for different moods he/she is while trading and stay out at the times not ready to trade.
My question is now does anyone do such a thing as recording his/her emotions while trading in a journal? If yes, how?
My question is now does anyone do such a thing as recording his/her emotions while trading in a journal? If yes, how?
Making pips is easy, holding 'em is hard
- Pipsopolis
I'm just not a journal kind of guy, but I think it's definetly important what state you're in when making trading decisions. If you're upset about something and especialy fx because you lost on the previuous trade/s you should be honest with yourself and admit it and not try to trade if you don't feel your emotions are under control. Also, if trading consistantly gets you into anxieties and makes you mess with your positions: like closing early/late, not using set tp/sl when you should or rushing into new trades as already mentioned - try decreasing your leverage to a level that will make you comfortable and stay there for a while until you re/build you confidence anough, still though make sure it's not too low that you no longer care and make the same mistakes as above or the opposite ones to them because of not caring at all this time.