Keeping a trading journal can be one of the most powerful tools for improving your performance in the financial markets. In this article, we'll explore the many benefits of keeping a trading journal, from enhancing your trading psychology to improving your decision-making skills.
A trading plan is a fundamental component of a successful trader’s toolkit. It is a written document that outlines a trader's approach to the markets, including their strategy, goals, risk management, and trading rules. While many traders skip this crucial step and jump right into trading, having a well-defined plan can make all the difference in achieving long-term profitability. In this article, we’ll discuss what a trading plan is, why you need one, and the key elements to include in your own plan. Whether you're a beginner or an experienced trader, understanding the importance of a trading plan can help you become a more disciplined and consistent trader.
