Write Your Own Investing for Beginner Blog and Track Records
Writing a trading diary to track records and learn on past mistakes is very important. One way to do it is to write your own investing for beginner blog.
When it comes to trading or investing, smart people always write their trading/investing diary. Why? To learn from it and keep their success figures in one place obviously. This is the best way to learn, since you learn on your own mistakes, which is far more effective than learning on others mistakes. There are many ways and forms of keeping trading records. Some do it with Microsoft Word, Excel, or Access; some do it in an old fashion way - on paper, some use professional software to complete this task like TradingDiary Pro, while some internet fans like to do it publicly, by writing their own investing for beginner blog.
Writing an online trading diary is something very easy to do these days with free blogger tools like Wordpress.com or Blogger.com. Going public with your trading diary has a few powerful advantages like possibility of involving other traders and investors in your trading case with commenting possibilities. You have probably heard for the saying 'Every eyes have its own painter' and this is also true when talking about technical analysis for example. While you might see some kind of formation forming on a chart, other might see different picture; two traders might therefore take different actions on the same chart at the same moment - one will take a long position while the other might go short. The time will show who was right and who was wrong. By reading others people comments on your own investing for beginner blog will widen your chart reading capabilities to the next level.
One of the most frequent questions about trading diary is what exactly should you write about. Well, our suggestion is to keep it as simple as possible. Don't make this task your primary time consumer; you should still be focused on finding good trading opportunities and focus on perfect executions. However, there are still some necessary components of every trade that should be marked in your track record history: at what exact price did you enter the order, at exact price do you plan to exit the position and realize profit, at what exact price will you terminate the position in case something goes wrong (stop-loss). You should also argument why did you decide to enter this position, what is the strategy behind your move. And it also makes sense to copy/paste a chart picture in the document, which should support your idea.
After a few days, week, months or even years, depends on your trading time-frame and holding period, you will finally close the position and this is the time, when you should evaluate your move. Was the trade successful, were things running like you expected, what went wrong, were there any surprises in the stock move, and so on. Mark everything you did not expected with red color, to catch your eye immediately. You should do this for all of your trades and afterwards you can loop through all the closed positions once per month for example and check what mistakes you have committed and try to find a way how to avoid them in the future. Once again, if your trading diary is public as investing for beginner blog, other people, traders and investors might help you finding the right conclusions. Take advantage of this extra and free knowledge you can get by facilitating modern technologies as internet is.
One great example of live investing for beginer blog can be found here. This is Harald Weygands blog, written in German, but with Google free translation tool you should not have any difficulties reading it.
Written by: Goran Dolenc
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