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Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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Over the past few months I have used various journaling files and I know there are excellent excel files on this thread but I use Excel for Mac 2011, which had problems with the macros, and TWS so I wanted my own simple solution. I created my own "macro free lite" journal that tracks:
compares different instruments and systems
equity curve over 12 months
compares performance over days of the week
Sum %R for trading results
Here is the journal if anyone is interested. There are directions included, no macros, no protection so it can be easily modified and its for Mac excel 2011.
Last edited by JohnS; August 2nd, 2015 at 02:17 PM.
Reason: added wording
The following 5 users say Thank You to JohnS for this post:
Hi fellows !
Great thanks to you Mike and other guys for the great effort you put into making this wonderful journal.
The thing I and my friends as beginners encountered first while seeing this threat is that there are a lot to take in this threat, which makes journaling and understanding this template a very difficult and cumbersome thing to do !
What I'm trying to say is that, it would be awesome to make a tutorial video on applying journaling in this template, explaining all the details and how to dos in 15 to 30 minutes ! do you think it's possible guys ? anyone wanna help us through ?
Thank you all who contributed to this journal.
May I ask off more detailed explanation regarding Benchmark? please?
In "Readme" is stated - Maximum favorable excursion while in the trade (before exit)
Is my understanding correct if let say am in long position and the price is rising and I close the trade for a currant price and the price didn't made any higher (recent) swing my Benchmark should be 0. Because I close it for the highest price possible at that moment with limit order. With market order I should state it as 1.
However if I am again in long position and the price create a swing and start retracing downwards and then I close my trade (let say I was hoping for break through of Resistance and it didn't happen) I should count the amount of ticks from the high of the swing's high to my close level which could be let say 20 ticks so I should enter 20 as my Benchmark. Is that correct please?
Another Question would be:
How do I enter 3 entry positions if I am entering as a ladder entry and then close all positions at once. So I build first trial position with initial SL and then once the position prove correct I enter another contract and if done correctly my SL should be above the second entry so in theory I am not risking any of my portfolio money. And then if the second position prove correct third contract is entered on the same bases as the second one. Therefore I have used only one SL and I have scaled in to the trade.
Should I journal it as 3 separate trades?
And the last question:
Is there a way how to add another "Comment/Thoughts" field. I am taking screenshots after the trade and make videos and I would like to Hyperlink them to the journal. Or should I make a separate file including all the comments and thoughts and screenshots and video and place only the hyperlink into the journal? I am not very good with Excel that is why I am asking such a questions.
Thank you for your (whoever you are ) kind answer and your time to do so.
Sorry, this is a long thread... i thought I'd just cut right to it... I'm looking around for a new trading journal and i like the looks of this one you've put together. I use Rithmic/Multicharts, so my question is can I automatically import my trades into the software? I was doing this in Tradervue, but I'm not going to pay $50 a month anymore. Thanks.