Essentials Of 'Trading Journals'

This is a discussion on Essentials Of 'Trading Journals' within the Trading Journals forums, part of the Reception category; I believe a trading journal is one of the most powerfull tools a trader can have. Most begginer traders have ...

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Old May 9, 2013, 4:24pm   #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, 8:30am   #10
 
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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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Old May 10, 2017, 8:47am   #11
 
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Journalling is probably an individual thing. Each one of us will find value in our own unique way of journalling. I used to write a whole long report each day answering questions and following a journal method I picked up in a trading book. It did not work for me at all. So I built my own system. I use a simple spreadsheet to input each trade and with all the various bits of import data. The spreadsheet is for statistical purposes only. Then I take screenshots of the trading set ups I had for the day. I make notes on the screenshots, highlight key areas, write comments, thoughts etc. I then put the screenshots in a folder in Evernote. I have built up a great database of trading setups and lessons this way and it works for me. Each to their own.
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Old May 10, 2017, 9:39am   #12
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I agree that a journal doesn't need to be more than a spreadsheet - but it's essential to have some track record of your performance and what you did. I'd be interested to know if you find time go through those old screenshots - and how helpful they are?
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Old May 10, 2017, 10:04am   #13
 
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I go through them every day. Patterns and setups repeat themselves in the market. So by focusing on various types of setups that I previously traded I'm getting better at spotting the set-ups again in future and learning to trade them better. I'm a visual person so to prep for my trading day I look at my past trades (screenshots with notes), good & bad. I also replay the previous days action and how I traded it. The spreadsheets track my performance and the screenshots show how I actually traded. It's not going to work for everyone, but that's my point. Don't follow somebody elses method blindly, make it your own.
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Old May 31, 2017, 1:47am   #14
 
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Thanks for sharing such information. It is really helpful for beginners in this field. It will be great if you could explain the difference between forex and binaryoption.
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Old Apr 16, 2018, 3:01pm   #15
 
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can i put a screenshot from MT4? more like "before" and "after" my Open trade get hit by value (such buy stop/sell limit)
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