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Risk warning CFDs, forex and crypto are high risk and most retail CFD accounts lose money. Nothing here is investment advice and no result is guaranteed. We may earn commissions from partners.High-risk products. Not investment advice. Nothing is guaranteed.

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Trading psychology and the trading journal

FOMO, revenge trading, overconfidence: recognise the mental traps and use a plan and a journal to trade with discipline.

Common mental traps

FOMOFear of missing out makes you chase a move that has already run, without a setup.
Revenge tradingRight after a loss you jump into a bigger trade to win it back.
OverconfidenceAfter a winning streak you size up and drop your rules.
Fear of losingTaking profit too early, widening stops, skipping valid setups.

A trading plan

  • Write it down: which market, which timeframe, which setup, when to enter, where the stop and target go, how much to risk.
  • Trade only when every condition in the plan is met; no setup, no trade.
  • Set fixed trading hours; outside them, keep the charts closed.

The trading journal

For each trade note: date and time, symbol, reason for entry, screenshots at entry and exit, result in R, and how you felt. Re-read it every weekend to find repeated mistakes.

TipMeasuring results in R instead of money takes emotion out and lets you compare trades of different sizes.
Watch outIf trading is affecting your sleep, work or relationships, stop, size down or take a break.

Try it on a chart

Educational content only, not investment advice. Practise on a demo account before using real money.