The secret to success in trading revealed
Most of you would have known that consistency and discipline are part of the success formula in any sport.
The same goes for trading!
So you may ask “Consistency and discipline to do what exactly?”
In your quest to strive to improve your performance, it is paramount to review!
To look at your best and worst trades.
What have you done well? Replicate the success!
What have you done wrong? Avoid the pitfalls!
Study the pattern of your trades. So that you can tweak your strategies and predict success! In fact, this habit is so deep-set in top traders, that it is second nature to them.
Success in forex trading requires a high level of planning and practice.
What best way to track your performance and review other than journaling?
Keeping a trading journal is a smart move to boost your performance and gain confidence in your executions.
Yes! Hence, the SECRET to being consistently successful in your trading lies in the magic of keeping a
So, what is a trading journal? What do you journal?
Fret not, I have a comprehensive template that I personally use daily to track and review my trades.
This is the FIRST TIME.
I am going to share with you openly and without reservation, the exact format that I use, as well as explain to you in a step-by-step manner how I use it.
That’s not all!
You may be wondering, HOW IS THIS TRADING JOURNAL DIFFERENT from what others are offering?
THIS IS NOT JUST ANOTHER TRADING JOURNAL!
When I first started my trading career, I had the blessing of meeting many mentors who shared with me the FUNDAMENTALS of success.
It is your WHY!
WHY do you want to trade to achieve certain financial returns?
What are the dreams you would like to fulfill with the financial returns?
Do you have all these worked out in detail?
Or do you have a vague idea somewhere in your head?
When you are not clear of your WHY, most of you will give up when the going gets tough. I am not going to lie and tell you trading is a get-rich-quick scheme.
Most people that I know (including myself) go through a tough journey as a beginner.
Yet, when your WHY is crystal clear, it provides you the direction like the light house to push you on, even when you meet challenges in your trading journey.
I have interacted with enough followers and attendees at my seminars, to know that most of you often miss this very important step.
I quote Benjamin Franklin, “If you fail to plan, you are planning to fail.”
I must share this typical exchange I have with some of the retail traders I have met over the years.
They ask me, “Karen, I don’t have much money now. I only have $100 or $1000. How can I be a millionaire in the shortest possible time through trading?”
What will your answer be if someone were to ask you this question?
Now, for experienced traders, you will know that there are many factors to consider.
Whether you’re a currency trader, stock trader or investor, you will find this trading journal useful to evaluate your current and past trades.
Included inside this trading journal are the following chapters:
P/S: As 2021 come to a close, I have one last item on my 2021 dream board to check off, which is to value-add all my followers and traders community with 2 products this year.
I have launched the book “Fundamentals of Currency Trading” recently.
As I was deciding what is the next product to be launched, I recalled over the past few years, a lot of traders have been asking me for my trading journal and trading plan template.
This leads to the birth of the Karen Foo Trading Journal.
Click on the button below and grab your copy now!
May the pips be with you,