95% Failed Traders - This is the Only Thing that Separates 5%

Many traders often believe that failure comes from ineffective strategies, poor risk management, or insufficient capital. However, the root cause lies in a habit that is mostly overlooked: keeping a trading journal. If you haven't done this, you may be sabotaging your chances of becoming a professional trader.

1. Why Do Traders Fail? When mentioning the reasons for failure in trading, people often list: Unstable strategy: Traders believe that they will succeed as long as they have a unique strategy. However, a strategy is only effective when it is constantly tested and improved.Weak risk management: Many people fail to realize that proper risk management is a vital factor that helps you survive through difficult trading sessions.Limited capital: Although capital can affect trading ability, it is not the sole determinant of success. The common point of all the above reasons is the lack of verification and continuous improvement - and that is due to not recording, not analyzing the transactions that have been executed.
2. Comparison: Trading and Gym Workout Imagine going to the gym every day without keeping track of the number of workouts, the amount of weight lifted, or your progress. You might feel tired after each workout, but how do you know if you are making progress or stuck at the same old level? In trading, if you only "feel" success or failure without recording all the information, neither you nor the gymnast track your progress. Without data for analysis, you only know fleeting emotions, not what is an effective strategy and what needs improvement.
3. The Importance of Note-taking Recording transaction logs is not just about saving numbers, but also a powerful tool to help you: Identify transaction patterns: When reviewing past transactions, you will recognize both positive and negative habits. Perhaps you often make the same mistake at specific times or under certain market conditions. Improve your strategy: Analyzing each transaction in detail allows you to adjust your strategy, thereby optimizing your entry and exit methods. Maintain discipline: Keeping records helps you question yourself every time you trade: "Have I prepared adequately?", "Is the reason for entering the trade really valid?". This creates self-monitoring and responsibility, important factors in trading. If you don't have a clear (checklist) before entering a trade, or don't record all the details of each trading session, you may be playing 'dice' instead of practicing as a professional trader.
4. How to Take Effective Notes? To make transaction journaling an effective tool in your trading journey, follow these steps: Pre-Transaction Checklist Before each transaction, make sure you have asked yourself: What is the purpose of the transaction? Have all risk factors been fully assessed? Are there any unexpected fluctuations? Detailed Notes for Each Transaction Including: Reasons for entering and exiting trades: Market conditions, technical and fundamental analysis.Trading outcomes: Profits, losses, and post-trade reflections.Psychological factors: Emotions and thoughts during the trading process, thereby identifying strengths and weaknesses.Self-analysis and learning from experience Regularly review transaction logs to: Identify repetitive transaction patterns. Adjust strategies based on accumulated experiences. Identify actions to change to avoid repeating mistakes. Maintain Discipline And Patience Taking notes may seem mundane and sometimes boring, but it's the 'side job' that leads to long-term success. Consider it as managing your personal business in trading - an indispensable task.
5. Conclusion Trading is not a game of chance, but a profession that requires discipline and continuous improvement. If you still feel 'stuck' and unable to progress, ask yourself: 'Am I recording and analyzing all of my trades?' Successful traders - about 5% - always treat trading as a business. They take notes, they analyze, and they learn from each mistake to improve their strategy day by day. If you haven't started yet, don't hesitate any longer. Start taking notes from today, because no one else can force you to do this other than yourself. Taking notes not only helps you have a clearer view of yourself, but also is the key to success in trading. DYOR! #Write2Earn #Write&Earn $BTC {spot}(BTCUSDT)