Essentials Of 'Trading Journals'

This is a discussion on Essentials Of 'Trading Journals' within the Trading Journals forums, part of the Reception category; I have a much different perspective on the real value of the trading journal. Sure it is nice (or terrible) ...

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Old Apr 26, 2013, 4:53pm   #8
Joined Jul 2012
Re: Essentials Of 'Trading Journals'

I have a much different perspective on the real value of the trading journal. Sure it is nice (or terrible) to look at your net on an individual trade or on your progress thru the year,but the most signficant value by far is to measure the effectiveness of your rules.

In my opinion the greatest value is the ablity of auto reporting the annualized return of each trade entirely inside your rules and the same for trades out side your rules - and to deliver an annual summary of the net for both of these. For example, before my journal contained this data, I was a self-satisfied that my trades were delivering a 28% annualized return. But when I began splitting performance between trades inside and outside my system, I discovered I was netting 28%, but I was making 52% on trades inside the system and losing 37% on trades outside the system.

Such data drives the trader to stay inside the rules and to tweak the rules for better performance. My trading moved from acceptable to very successful solely upon adding this feature to my journal.


Last edited by timsk; May 8, 2013 at 7:14pm. Reason: Deleted quote of OP.
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Old May 9, 2013, 5:24pm   #9
Joined Nov 2011
Re: Essentials Of 'Trading Journals'

I believe a trading journal is one of the most powerfull tools a trader can have. Most begginer traders have no idea what should be in or how to keep a trading journal. I wrote a blog of how I keep my journals so I can help others create theier own.
Review Trading: Trader Tools - Trading Journal - Tools
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Old Mar 31, 2014, 9:30am   #10
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Joined Mar 2014
Journaling is essential! Thanks so much for these guidelines here as I think so many people just don't know what to write, how to set it or where to begin. That was one of my questions before I started my journal - what do I write?

For anyone that hasn't got a journal already - it really is essential - you won't know where you are going wrong or right for that matter - record your emotions too - for both the winners and losers. I noticed my fear around losing money was ridiculous and I documented it every time. It was a great way to review why I was changing my rules. I could see how much I was diverting away from them and started to change my ways.
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