Suppose you lot were to care for each marketplace twenty-four hours (or week, depending upon one's fourth dimension frame as well as frequency of trading) equally a dissever chess game. You would follow the marketplace motion past times motion as well as annotate your observations at each key juncture: what was happening alongside of import marketplace indicators; what was occurring inwards related markets; how the marketplace responded to intelligence as well as economical reports; etc. Of detail importance would move key turning points inwards markets as well as how those laid up.
Such a periodical would consist of multiple charts, equally good equally commentary. Actual trades logged during the marketplace twenty-four hours would besides move depicted, along alongside comments on the strengths as well as weaknesses of the trades.
Right away, in that location would move 2 distinct advantages of such a journal:
1) It would move dynamic. Influenza A virus subtype H5N1 periodical that treats each day/week equally a chess game would move the equivalent of the sports exercise inwards which jitney as well as role instrumentalist sentry the video recordings of past times games, review performance, as well as supply feedback. The review could include replays of key marketplace junctures as well as would supply a much to a greater extent than dynamic as well as engaging approach to learning than writing static prose entries.
2) It would move structured. As alongside chess education, the periodical would aid traders operate on their openings (entry execution); their midgames (position management); as well as their endgames (exit execution), equally good equally their offensive (idea generation) as well as defensive (risk management) strategies. Most written journals are mere summaries of a trading twenty-four hours or week. Influenza A virus subtype H5N1 periodical that captures each trading day/week equally a chess game invites really concrete evolution for the skills key to each stage of the trading process.
Imagine farther that such a periodical was shared alongside valued colleagues via social media, as well as thence that each trader is learning many lessons every unmarried twenty-four hours or calendar week as well as working together on edifice strengths as well as correcting weaknesses. By treating markets equally chess games, nosotros do novel routines for viewing as well as re-viewing functioning as well as adapting to changing markets.
Further Reading: The Power of Trading Journals
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