Cyzners Trading Journal
Salepage : Cyzners Trading Journal
Liquidity Inducement Trading
My journal representing daily recaps of my personal Liquidity Inducement Trap trades.
A trading journal is a log that you can use to record your trades. Traders use a trading journal to reflect upon previous trades so that they may evaluate themselves, and you should too! You can use journals to evaluate where you can improve your trading. They are a useful form of record keeping.
Why trading journals are useful
Main reasons to keep a trading journal include:
– They help you identify weak points and strong points in your style.
– Journals could increase trading consistency.
– The journal could keep you accountable.
– The journal can help you choose your best trading strategy.
Keeping a journal is a simple yet extremely effective way to improve a trading plan. A trading plan is a set of rules and guidelines you will follow that includes strategy, risk management, and trader psychology.
What is forex trading?
Forex, or foreign exchange, can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another – if you have ever travelled abroad, then it is likely you have made a forex transaction.
While a lot of foreign exchange is done for practical purposes, the vast majority of currency conversion is undertaken with the aim of earning a profit. The amount of currency converted every day can make price movements of some currencies extremely volatile. It is this volatility that can make forex so attractive to traders: bringing about a greater chance of high profits, while also increasing the risk.
Cyzners Trading Journal
