Traders must take initiative to continue his trading movements here. Otherwise one day he may end up with losing trades. Yes, maintaining trading journal is one of the best moves of pro, successful traders. By using trading journals a trader can monitor how well he is actually carrying out his trading activities.
Of course, it is very important for each trader to make records of all his trades because trading journal is the main source of information for analysis. It allows trader to understand better the mistakes he make from time to time to be able to find the way to eliminate them in future. Trading journal should include information on most important steps of trading process, such as choosing a setup, entering the position, managing of opened position and closing it with profit or loss. Trading journal should also include the details on instrument, timing, the particular strategy used, and also some comments and ideas about the trade and the situation in general. Such information could be very useful for the trader who wants to improve his performance. The best way would be to review your trading journal from time to time to understand whether you are moving in the right direction.
