Chapter 32, Part II. Tracking Your Performance - Continued...Page 4

Review your journal

This is a good habit review and analyze past trades that are fixed in your journal. We hope that they fixed with corresponding charts. If you make 1-2 trades during 1-2 days then you can pass through your journal during weekend. If you trade oftener you can do it in the evening 2-3 times per week, when your trading session is over. Since tomorrow new trades are expected you – mistakes should be eliminated just to not been transferred in new trades. This could be done by analyzing of your past trades – how it was planned, how it was realized and what was done well or bad when it was in progress.

Here are most typical questions that you have to answer when looking at past trades:

- Did you accomplish your trading plan at 100% - enter when you’ve planned, exit how you’ve planned and with the lot size that you’ve intend to?

- Did you feel some mental pressure because of too large of trading lot size or some lack of interest to trade due too small of lot size? Can you change something to balance lot size and your risk management to feel yourself more comfortable mentally?

- Was there any possibility to enter at a better level and can you tell that you’ve missed some pattern that pointed to that or you can’t foresee it anyway – this was just unpredictable move by market?

- What event has triggered the move in your favor (or against you) – technical issue, some data or news release, statement or something else?

- How has the market reacted on your profit taking and stop-loss areas? Was take profit placed too tight or too far, how market has behaved around it – respected it or just run through it?

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