How To {WORK WITH A} Trading Journal

If you’re a trader, you’re {students} of the markets and you’ll {have to know} how to {work with a} trading journal.

Download {the main element} points {of the} post as PDF.

My best students and I take detailed notes, {as you can plainly see} {I really do} on every trade HERE, as we’re always adapting to the markets {checking out} various strategies and patterns and for traders, {this technique} involves keeping {an in depth} trading journal. {Remember} that successful traders track {all their} moves {and} optimize, optimize, optimize {as time passes} {even though} perfection {is actually} impossible, practice does make {near} perfect in this industry and {the main one} common element {that} my top millionaire trading challenge students and {I’ve} {in keeping} is {that people} are meticulous in testing and refining our {ways of} better adapt various market environments and {our very own} strengths and weaknesses too.

This educational process {is crucial} to your success {which} {is the reason why|is excatly why} we created Profitly {and today} have a section {where one can} even make {your personal} {blogs} and/or video lessons and watchlists too at

{If you believe|If you feel} it sounds boring and cumbersome, maybe {it really is}, but it’s {your very best} shot at becoming successful so you’ll thank me later. There’s a psychology to every move you make, and there’s a pattern to every trade you enter and exit {in order} {section of} your education {you need to} being {to comprehend} {your personal} best and worst patterns, how they change, {if they} are successful {so when} they aren’t. And {the only path} {to get this done} {would be to} keep {an in depth} record {of each} move you make {and} review your journal often.

{It has} been {an essential} {SECTION OF} MY EDUCATION – {not only} as a trader, but as a teacher, too.

Need more proof {about how exactly} important {it really is} to document and {study from} {All your} trades? Watch this video with my top Trading Challenge student who just surpassed me {altogether} trading profits:**

He’s {a large} believer {keeping in mind} {tabs on|an eye on} various strategies and patterns and documenting everything, {exactly like} this great trader {which} one too…it’s a trend!

What {MUST I} {DEVOTE} My Journal?

So, {do you know the} {important elements} of a trading journal? Action and emotion. {It will} note {once you} entered a trade, {so when} you exited; your short or long position; what the stock did {throughout that} time; what technical indicators or catalysts made you enter this trade; and-importantly-what {you’re} thinking {once you} entered it. Your emotional state on that day {can provide} you insight into success or failure-so keep track. You’ve got moods, and a journal {really helps to} establish patterns {so that you can} better assess which days are good days to trade, {so when} {it may be} better to {have a} break.


Here’s a hypothetical example for {a person who|somebody who} {is really a} total newbie:

So, basically, {in the event that you} keep a journal {such as this}, you won’t {need to} ask yourself {the method that you|the way you} lost money on a trade and how {you may have} repeated that mistake {seven days later}, {or perhaps a} month later.

Trading {is really a} skill you learn-and keep learning-every day, {even though} you’ve been at it {for a long time}. There’s always something {not used to} {find out about} patterns, about stocks, {concerning the} market-and about yourself.

{The easiest method to|The simplest way to|The ultimate way to} see yourself growing as a trader {would be to} keep a journal {of one’s} progress. And {the ultimate way to} actually progress {would be to} build on each move, {this means} recording each move. Otherwise {you truly} only have {an over-all} recollection {of one’s} trades. {Completing} the journal {for every} trade also {allows you to} better understand yourself {along the way}. {It certainly makes you} dig {a little} deeper into your psyche {to determine} {everything you} were thinking {and just why} {you’re} thinking it. {It certainly makes you} examine and analyze {your ideas}, {not only} record them for future use. So it’s useful {in today’s} and {the near future}.

It’s {a terrific way to|the best way to} {study from} mistakes; and mistakes {are essential} {to be able to} learn.

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It’s also {vital that you} start the journal immediately-from your first trade. It doesn’t matter if it’s old school, with pen and paper, or digital, but digital {helps it be} easier {that you should|so that you can|that you can} update your journal. {For example}, {you may} watch a stock you sold {for some time} and see what it did and {just how much} {you might have} won or lost. {An electronic} journal {offers you} that flexibility, while also {enabling you to} easily search it for symbols or {key phrases|key term}.

If you’re not sold yet on the journal idea, I’ll {summarize} 5 {advantages to} having one:

#1 Easy Trade Tracking

Sure, {you can observe|you can view} your trading history and {all of your} {progresses} your broker app or website, but this isn’t enough. Your journal {must have} every relevant detail of a trade, {then one} your broker history won’t {offer you}: {The reason why} you entered {to begin with}, and what made you exit. {That’s where} you record your {way of thinking}, and it’s {crucial to} your trading future.

#2 Easy {Way for} Reviewing Trades

{The primary reason} for having a trading journal is {simple} reviewing a fuller trading history. {It is possible to} compare {all of your} entries and {create a} new strategy. {In the event that you} enter {everything} in your trading journal, {it can help} you track your profit goals and evaluate long-term risks and earnings. {Are you currently} making progress toward the goals {you’d} when you {lay out}? Your journal tells all.

#3 Learning {FROM YOUR OWN} Trades

{Each and every time|Each time} you review your trades, {you will discover} out {everything you} were doing wrong, {and you may} {study from} your mistakes. {So when} you {study from} your mistakes, {you should understand} {how to prevent} repeating {exactly the same} mistake at {another} trade. Also, the journal record of {an excellent} trade {will assist you to} {concentrate on} advancing your strategy and achieving {your targets}. Good or bad, there’s something {to understand} {out of every} trade.

#4 {Start to see the} Big Picture

{Not merely} will your trading journal {offer you} better insight into who {you’re} and what you’re {with the capacity of}, but it {may also} {provide you with a|offer you a} {dilemna} of {the marketplace} and {how it operates}. Writing and reviewing your journal will tell {what type of|what sort of} trader {you’re}, and {what type of} trader {you need to be|you ought to be|you have to be}. It {lets you know} {what type of|what sort of} stocks {do the job}.

#5 Score a Mental Victory over Loss

Your trading journal {will assist you to} recognize your losses and turn them {right into a} mental victory. {In the event that you} don’t {jot down} your losses, you leave them unresolved. A journal gives your closure, and {enables you to} sleep.

Keeping a trading journal with {each one of these} details {may seem} exhausting. {I understand|I am aware}, you’re thinking that {all you need} to learn {to become a} successful trader already seems overwhelming. But a journal will actually make your overall workload lighter. Remember, we’re all students, and students without notes are lost-and lost money.

So, {in the event that you} {know very well what} I’m saying {in this article}, then please leave a comment and promise me that you’ll follow these instructions {and begin} using Profitly {to help keep} track of {All of your} trades…trust me, it’ll {assist you to} SO much {over time}!

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