Alexander Elder once said "Trading without a journal is like shaving without a mirror". As one who often trades the financial markets, I strongly believe that the importance of having a TRADE JOURNAL cannot be overemphasized.
So, based on popular demand I will be sharing what a/my TRADE JOURNAL looks like.
Like most traders, I use the @NotionHQ app. This works pretty well on the iPhone, android device as well as your PC and affords you the opportunity to tailor the journal to your taste and I must say that the User Interface is quite tasty as well😉
THE COVER PAGE:
This entails mostly your TRADE PLAN, TRADE NOTES, GOALS AND THE TRADE JOURNAL itself as headings, dropdowns, checklists, toggle lists etc., basically a pilot view of your journal in that sense.
This entails mostly your TRADE PLAN, TRADE NOTES, GOALS AND THE TRADE JOURNAL itself as headings, dropdowns, checklists, toggle lists etc., basically a pilot view of your journal in that sense.
Embedded in this cover page is a "FOREXFACTORY" link right before my trading checklist, and this serves as a subtle reminder for me to check for news that might disrupt price movements that day and also be conscious of the times they would be released.
I like me a daily trading checklist BEFORE, DURING AND AFTER Trading. Know what mental/emotional/psychological state provides you with the best trading results as well as what puts you in this state and you can make all these into a checklist, toggle list, bullets, as you please.
Also, most people know I love to record my trades in real time and this is why I have a section for my VLOGGED TRADES AND BACKTESTS and I sure group them in the order of the month they fall in. This makes it seamlessly accessible for me (I hope it does for you too 😉)
DIVING INTO THE MAJOR HEADINGS:
TRADING PLAN:
This includes your Trading Rules, Setups, Entry Criteria as well as your Trade Management controls. I have this page of my journal opened most often than not to keep me in check and to make sure I'm not swayed by external factors.
This includes your Trading Rules, Setups, Entry Criteria as well as your Trade Management controls. I have this page of my journal opened most often than not to keep me in check and to make sure I'm not swayed by external factors.
TRADING NOTES:
Here, I have my observations recorded as we never stop learning from the myriad things the market movers do and why they do them.
Here, I have my observations recorded as we never stop learning from the myriad things the market movers do and why they do them.
TRADING GOALS:
To be very honest, I'm still not sure if I follow this because I like to just follow my rules mechanically by the day. That being said, you can add a VERY realistic daily, weekly or monthly target for those that work with percentage goals and whatnots
To be very honest, I'm still not sure if I follow this because I like to just follow my rules mechanically by the day. That being said, you can add a VERY realistic daily, weekly or monthly target for those that work with percentage goals and whatnots
THE TRADE JOURNAL:
Data Collection and analysis is quite imperative as we all know. The TRADE JOURNAL uncovers so many mysteries and patterns that you would probably not notice if you were just trading by the day and not taking notes. Also, the journal could inadvertently point
Data Collection and analysis is quite imperative as we all know. The TRADE JOURNAL uncovers so many mysteries and patterns that you would probably not notice if you were just trading by the day and not taking notes. Also, the journal could inadvertently point
out your errors, as well as your bad trading habits and improprieties.
Considering all these, as a serious trader without a journal, you should be able to find your way around using the notion app to create one and have it tailored to your liking.
@Fairy_Trades You can take your foot off my throat now😂
@Fairy_Trades You can take your foot off my throat now😂
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