Why do we need a trader diary?
Let’s continue to talk about the 3Commas secret features. Trader diary is one of the most effective tools for profitable trading, especially at the beginning when a trader does not perfectly understand how it really works.
A consistent diary is the main stage of trading. Many novice traders ignore such simple tools and take a completely different strategy of conducting the trading process, preferring to rely on intuition. These are risky and reckless decisions, this can lead to losses.
What are the benefits?
Trader diary helps you to solve problems with repeated errors and reduce their number; use your observations and analytical records for the previous trading period.
Review and mark all the important points, write comments on each trade. In the future, such an analytical approach will help to reduce acceptable risks.
The detailed analysis will help to assess the degree of effectiveness of the developed strategies, account and control trades, you will be able to analyze the profit and identify mistakes.
3Commas keeps a diary for you on https://3commas.io/trader_diary page.
It automatically saves all past trades with the necessary stats. You can scroll through the pages of trades or export them. Use filters to view deals on a specific exchange, pair or date.
Also, comments are available. Here you can write why we open the order at the current price. Maybe because of the support level, or because we saw an uptrend, or because of the RSI indicator, which sent a signal to open a position.
Use dairy to control profits and losses; accounting for every little detail helps to become a truly successful trader.
Make decisions based on the strategy, honest analysis, and experience, and may the profit be with you.