Forex trading diary

How to keep track of your Forex trading? Today I will show you the Forex trading diary.

First, I think the Forex trading is a business and run it on business principles. So I will write a Forex trading plan. 

• Why am I trading? Because I'd like to learn Forex trading and I love it.
• What am I goals? I want to set a yearly goal about 10%.
• How many currency pairs to trade? I am only trying to pick the USDJPY
• Now USDJPY is a range-bound market on the daily chart 
• Support level is at 112.42, resistance level is at 115
• I will use the grid trading strategies.
• Use 0.01 to 0.02 lots for a $3000 
• At last, I should trade the plan and plan the trade.

USDJPY Daily chart from ctrader

The Forex track record would look like this:

• 2/17/2017 buy limit 0.02 @ 113.19
• 2/17/2017 buy limit 0.01 @ 113.169 
• 2/21/2017 close 0.03 @ 113.26
• Take profits $ 1.81

This is my Forex trading diary. I believe that keep a Forex trading diary gives me a good view of the markets.

Forex trading diary template

As a beginner, a Forex trading diary can help him analyze the markets. Now I will post a Forex trading diary template.

First, it has been said that trading is a business and run it on business rules. So I have to develop a Forex trading checklist.

• I am only trying to pick the AUDUSD
• Now AUDUSD is a range-bound market on the daily chart 
• I'd like to use the grid trading strategy
• I will set up a grid on AUDUSD, use 0.01 to 0.02 lots for a $3000 account.
• Support level is at 0.745, 0.7324, 0.7165, resistance level is at 0.7747
• I'd like to exit at the resistance level.
• Finally, I would execute a buy market order.

Second, I will keep a track record of trading, and then create a simple Forex trading spreadsheet to track and analyze trades.

set up a grid on AUDUSD 

• 1 December buy limit 0.02 @ 0.7392
• 13 December close 0.02 @ 0.7495
• 15 December buy limit 0.01 @ 0.7395
• 16 December buy limit 0.01 @ 0.7364
• 19 December buy limit 0.01 @ 0.7297
• 19 December buy limit 0.01 @ 0.7252
• 22 December buy limit 0.01 @ 0.7222
• 26 December buy limit 0.01 @ 0.7182 
• 29 December close 0.01 @ 0.7222 
• 4 January close 0.01 @ 0.7254 
• 4 January close 0.01 @ 0.7275
• 5 January close 0.01 @ 0.7310
• 9 January close 0.01 @ 0.7370
• 12 January close 0.01 @ 0.7442

Third, experienced traders have four types of records: the trader's Forex trading excel, equity curve, Forex trading diary and Forex trading plan.

Forex trading excel

Further reading: Come into my trading room by Alexander Elder