Chapter 23: Write it down or suffer the consequences

In this chapter, you will learn that:

• Trading plans and trading diaries are essential tools used by every profitable trader.

• Your trading diary should include your thoughts and feelings about the trade, not just the mechanical details of entry and exit.

• Your trading plan is a master blueprint of your goals and objectives, procedures, performance measurement and trading system.

• Effective trading requires excellent planning and discipline. Trading favours those who follow a consistent plan.

Both winning and losing trades teach us important lessons. Losing trades often provide the greatest opportunities for personal growth as traders. As an aerobics instructor of mine once yelled in ...

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