The importance of a trading diary

So according to Catherine Davey, CFD trading depends much on the respect between you and the market. Fair enough, I agree. And I’ve heard many horror stories about how people have lost big on leveraged investments. So Mr Market, you have my fullest respect - please don’t take all my hard earned savings and leave me on the streets.

Catherine states that many successful traders deem it necessary to keep a trading diary. Writing in diary form can allow one to describe the daily events and also express your trading emotions.

Catherine places a lot of emphasis on emotions. Especially how hesitation and doubt can play a critical factor when your on the clock. A trading diary let’s you learn from both your technical and psychological mistakes and become a better investor.

No need to reinvent the wheel

Hey, if it’s good enough for the gurus then its good enough for me. After all, this is why I bought the book.

Why bother making foolish newbie mistakes when I can learn from the mistakes other people have made? If the authors have the knowledge, skill and ability to publish a book about it, then I’m sure they’re doing something right! I’ll try to follow the tips, concepts and strategies used by the best and see if this whole CFD thing actually works.

So here goes my trading diary…