This article has been translated from English to Gen Z Slang.
Alright fam, let’s hit rewind and recap what you’ve picked up so far from our previous sessions on crafting that dope crypto strategy. 🚀
You've picked up the skills to:
- Flex your fundamental analysis muscle to vibe with a crypto, get a directional bias (“bullish” or “bearish”), and whip up some slick trade ideas (go “long” or “short”).
- Slay the game with technical analysis (TA) and price action (PA) to find those lit entry prices (“entries”) for your trade, and dial in on those exit prices (“exits”) to snatch profits or cut losses.
- Dive into Three essential tools in trade and risk management so you don’t end up wiping out like a noob. 😅
The final boss move in our trading saga is keeping a trade journal. 📓✨
What is a crypto trading journal?
A trading journal is basically your hustle diary. 📖 It's where you jot down your trade adventures. It tracks your performance and, most importantly, helps you think back and learn from the L’s you take.
Writing down your brainwaves ain’t what everyone’s into, but hey, getting those W’s in your craft means journaling is the vibe you should be on ASAP. 🕒
A trader with discipline equals a trader in the green. Keeping a trading journal is numero uno for this energy. 💪
Journaling isn’t just a trader thing. Docs take notes on patients' stuff. 🩺
Pros in sports replay their game days and scribble down how they could level up both on and off the court. 🏀
In general, note-taking and journaling are legit power moves for any goal. As the old-school saying goes, “You can’t manage what you don’t measure.” 📏
Without a journal, your trade game might fall apart, and you’ll just be out here making the same rookie mistakes. 😬When you’re following the trading vibes, scribble stuff down like your wallet depends on it – cause, in a way, it actually does. 💸
Your trading stash ain’t just money; it’s the blood, sweat, and life you’ve put into hustling, so treat this like you’re a doc or a sports pro. 🤑
What’s in a trading journal?
Alright, here’s a cheat sheet for your trading journal:
- Scope the news daily to catch those market feels. Scribble any fire news, events, and your thoughts/hopes.
- Flex your fundamental analysis for some trade ideas and note them down. 💡
- Plug into technical analysis and price action for those entry and exit points. Log ‘em. 🎯
- Write your trade and risk blueprint.
- Sort your trade vibes between “ready to pop off” and those “stalking” on your watchlist. (Ideas not yet ripe for the trade.) 👀
- Keep tabs on pending moves and open plays.
- Revamp your trade and risk game based on what's trending now and log those changes.
- Once you close a trade, jot down how the market vibed and why your move was lit or a flop.
Peep your trading journal on the reg to spot new lessons and smash your processes going forward.
If journaling’s new to you or if it’s a mystery, the School of Pipsology has your back with Keeping a Trade Journal.
But before you slide over there, remember the one hack to nail journaling: Keep it simple and stay consistent. 🔄
Even if you’ve only got a spreadsheet online with three columns, like “Date,” “Market Thoughts,” and “My Market Expectations,” you’re off to a solid start!
| Date | Market Thoughts | My Market Expectations |
Remember, you’re just getting started, and it doesn't have to be flawless. 🌟
You just gotta dive in.
If you can spend hours scrolling TikTok daily, you can def carve out time for journaling.
Your skills will level up over time if you stay loyal to your grind and apply the knowledge to make your journal pop.