Trading Binary Options?? Start your Trading Diary on CommuniTraders !
Here is all you need to know about starting a trading diary!
Why should we start a trading diary?
There are many reasons, self-improvement, getting feedback from the pros and helping each other out. Was that trade you took and won based on luck or was it experience? Are you using too many indicators? Can your strategy be improved? Did you lose because you neglected a detail? I am certain that a seasoned trader can point those facts out – and we do, all the time! Here is an article everyone should read before starting a trading diary: Your Binary Options Trading Journal – Writing your Key to Success!
Where do I Open My Trading Diary?
Ok, so where can you create a trading diary? The CommuniTraders forum is a great place to keep an online trading journal – in the Members War Room. http://forums.binaryoptionsthatsuck....Financial-News
But hold on, before you start your journal, there are a few more things you need to know! One of them is, how to start the best diary!
How to Start the Best Trading Diary?
There are a few rules you need to follow in order to create the best possible diary:
1. Give it a good name. You might not be the only “John Anderson” who creates a diary so “John’s diary” might not be the best name but “[Nickname] - Trading Breakouts with John A.” could be a better name.
2. The first post should explain a little about you, your experiences, your strategy you are testing or trading with and if you are a beginner who needs help or a master of trading with years of experience!
3. It is good to always share a picture of your charts where it clearly shows your entry (use arrows!) and your expiry (use a cross or similar). If we can’t see where you entered and why, then we can’t guide you right? Here is an example below:
This is a good picture for a trading diary. It shows the entry point, the expiry point, you can see which asset it is and you can even see which timeframe and which indicator that was used! I used Lightshot which is explained below.
4. Please either upload an optimized picture by saving your file as JPEG and then compressing it via optimizilla or if that is too much work, there is a simpler and much faster method:
Instead of saving the JPEG on your disk, use a program to upload to “cloud” and copy the URL which you can post in your diary. A free and easy to use program for this purpose is Lightshot – and here are tutorials on how Lightshot works in case you are not familiar with it since before or find it to be too difficult.
More about Lightshot:
It’s very easy to use: simply press on your keyboard the “Prt Scr” button and you will be able to select exactly where on your screen you wish to capture! This way you don’t need to edit in paint because you already took the perfect picture. It also includes the feature of adding arrows, lines and text in different colors to make things easier and in case you wish to point something out on your charts or explain it. Then click the upload button instead of the save button which provides you with the link to your image.
Here is the picture above but shared as an URL instead of a file, using Lightshot. This way you will help us keep a clean and fast loading forum! Thank you.
5. Add a few lines to your picture which explains why you took that trade.
For example, for the image shared above, I would try to add two or three reasons:
A) EURUSD is in a downtrend today – the trendline illustrates this.
B) My entry was based on a lower high.
C) Stochastic was overbought.
This will help you remember why your winning trades worked so well and other people can also give you feedback based on that information.
6. Win an Awesome Looking Badge that proves you are the Real Deal
Our “Trade of the Month Contests” are created to show that your hard work means a lot to everyone and that you should be praised for it. You can even nominate your own trades by sharing a link to the post in your diary you wish to promote. Or how about nominating the other traders and their posts? Maybe someone who has been an inspiration or someone who helped you! Share the post which explains a good trade that you think was executed like a pro and mention why you love to nominate it for the Trade of the Month Contest!
Get Inspiration Before Starting - Examples of Great Diary Keepers
and Trade of the Month Winners to Learn From!
Gary Gary’s Diary
Mike M Mike M Diary
Annovdbos Anno’s trading diary
To share the direct URL to a specific post, simply right click the post number on the top right corner of the post which looks like this for example: #127.
Then select “copy URL”.
Example of direct link to a diary post for nomination: Mike’s post #127.
There are many more really good traders and diary keepers in the Members War Room so take your time and check them out for more inspiration!
Last edited by Okane; 03-07-2017 at 11:47 AM.
Post Thanks / Like - 2 Thanks
Thanks Kolyo for this update! The article is really very nice and explain deeply the many factors that trading diary can affect positively. I started keeping my trading diary few months ago and later on realized that my results improved significantly too. So I can say it is a must do step for every binary options trader. I am planning to move my trading diary here in CommuniTraders and to share all my thoughts and trades with you guys! I hope we will see in the near future much more trading diaries here showing the full specter of all trading styles.
I really like the idea of keeping a trading diary. It is the most simple and reliable way to keep track of your trading records and to know each moment where you did a mistake or where you achieved good results. Without trading diary nobody can tell you where you are standing at the moment and where you are heading. You surely need the guidance of the trading diary and keeping it in CommuniTraders Forum is the best place I will surely consider starting my diary here!
Keeping a diary has evolved me as a trader and I think it will help beginners avoid becoming gamblers
instead of traders! Of course, professional traders keep journals as well.
In fact, anyone who considers becoming a trader should start a diary, every loss costs, so make sure that the cost at least pays
for your education.
Started immediately with a diary in Word. I add a picture of my trade setup before opening a trade (to see the setup develop) and one after it finished (to see how it ran). I also add trades I didn't take and add comments why I did or did not take a trade.
Above the charts, I add actual economic news items (from -30m to +2h and 3h with a speech) and each day I make a short summary of important world news, like war or disasters. This gives me the opportunity to look back anytime in the I want future, and still grasp the actual situation when opening a trade.
That is a great plan and as Okane said it helps for education the best way! It is very important to place both screenshots at opening and closing the trade to see what the market looks like when the trade is initiated and what the market looks like at the end of the trade. Also great idea to keep log file of economic events and how they affect on the trading plan! I will start my diary from the next week with a format similar to the diary of Seasalt.
Originally Posted by SeasaltMcFish
Post Thanks / Like - 1 Thanks
Me too enjoying the weekend and the world cup in Brazil! Great relax for a great success next week with a lot of binary options trades!
How To Start A Trading Journal
Communitraders is a great place to keep an online trading journal. YOu can start a thread to post your ideas, trades, successes and learning experiences. Plus you can use the trade platform to test and share all your trades, and even build your own social trading following. This is the right forum in which to do that and here is an article by Pro Trader Okane outlining just how to do it.
How To Make A Trading Journal
"Great Googely Moogely" ... Frank Zappa
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Welcome to the CommuniTraders War Room
Hope you're all. We've gathered here today to talk binary. We're all here for one reason afer all – make money trading binary options. So this is our newly established war room, right below our famous Social Trading Platform. This is the place to keep your trading journal, your trading tips, your daily signals, your weekly outlook, your trading experiences, or whatever it is that has to with your quest to become a successful binary options trader. This is war guys, but we're here to win. Together, we're stronger! CommuniTraders! Forward!
Martin and the Team
P.S. When your thread reaches 11k+ views, you'll be entitled to a WARRIOR badge!
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First of all,let's destroy the Martingale Tanks. They are WWI material and should not be allowed to kill any more traders...
Just joking. Nice thread!
Last edited by SeasaltMcFish; 11-11-2014 at 07:59 AM.