Info!! Trading Journals: What Format Is Correct For Me?

Periodically, I acquire questions well-nigh the "right way" to proceed a trading journal. There's actually no ane correct answer, equally the magazine volition run into dissimilar needs for dissimilar traders.

Broadly speaking, at that topographic point are iii kinds of journals that traders keep:

1) Learning Journals - This is how I started out equally a trader. I kept daily records of marketplace position action, along alongside charts of indicators in addition to indexes, in addition to reviewed each solar daytime to position the patterns that accompanied of import directional moves. From such review, I learned which indicators in addition to patterns were most promising (that's how I discovered the value of NYSE TICK, volume, sector confirmation/non-confirmation, novel highs/lows, etc.). I equally good learned which patterns did non assist me (chart formations, most canned indicators).

The role of the learning magazine was to render daily in addition to weekly reviews to assistance designing identification. It was solely afterwards reviewing those journals for a considerable menses of fourth dimension that I attempted to position the patterns inwards existent time. And it was solely afterwards that that I newspaper traded in addition to and hence traded live. If I had to position ane technique that most aided my evolution equally a trader, it was keeping in addition to reviewing those learning journals.

2) Psychological Journals - These are journals that rails the traders themselves. These tin endure peculiarly valuable when traders are having problems alongside lapses of concentration, disruptions of decision-making, dependent problems, in addition to the like. The thought is to usage the magazine to proceed a existent fourth dimension tape of what you're thinking in addition to feeling, hence that you lot tin give-up the ghost a meliorate self-observer. Keeping the magazine helps a trader position work patterns equally they are occurring, hence that the trader tin interrupt those patterns in addition to non permit them to sway trading decisions.

The cognitive journals described inwards How to Keep a Trading Journal

Questions for Starting Your Trading Day

Questions for Wrapping Up Your Trading Day