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The benefits of creating a journal in this forum
Started: by Big Mike Views / Replies:24,596 / 74
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The benefits of creating a journal in this forum

  #21 (permalink)
Market Wizard
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Anna K View Post
you are right, there is plenty in real life, why add more???

Trust a woman to need the last word. That's at least one assumption for at least one of us.

Travel Well
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  #22 (permalink)
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Trading is a lonely profession.

Most people will not be honest with themselves in a private journal. It's not that you intend to deceive, it's just human nature. The biggest gain from a public journal is the accountability, it will help your trading enormously.

As the owner of the site, and as someone who reads more posts than anyone else, I can tell you unequivocally that the overwhelming majority of people that create journals on futures.io (formerly BMT) have stated it has helped them.

When you try to "teach" someone your process, or "explain" why you did something, then it really focuses you and most people will likely learn that their reasoning is flawed or unpredictable. A journal helps you reach this realization, and then from there you can learn to hone your skills and start making predictable and well researched trades that follow a plan, instead of claiming to do so while the facts clearly state otherwise.

Everyone gets what they want out of trading. If you approach journaling as a negative or "why am I doing this", then clearly it is not going to benefit you.

The journal is for you. It's not to show off. Just keep it honest, that's crucial. When people ask questions, it forces you to think, also crucial. When you explain something, again it forces you to analyze your thought process, which is always a good thing and often uncovers mistakes.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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.

If you want
to support our community, become an Elite Member.

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  #23 (permalink)
Site Administrator
Manta, Ecuador
 
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Anna K View Post
you are right, there is plenty in real life, why add more???

That's an interesting comment.

How much time do you spend on your trading each day, in total?

How much of that time is spent on the actual journal?

If you were to break this down by averaging your YTD figures and computing your hourly salary, are you earning a good wage for your time? If the answer is no, then you are probably over trading in my opinion, which could be why you find the journaling difficult or exhausting.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #24 (permalink)
Membership Temporarily Revoked
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Big Mike View Post
Trading is a lonely profession.

Most people will not be honest with themselves in a private journal. It's not that you intend to deceive, it's just human nature. The biggest gain from a public journal is the accountability, it will help your trading enormously.

As the owner of the site, and as someone who reads more posts than anyone else, I can tell you unequivocally that the overwhelming majority of people that create journals on futures.io (formerly BMT) have stated it has helped them.

When you try to "teach" someone your process, or "explain" why you did something, then it really focuses you and most people will likely learn that their reasoning is flawed or unpredictable. A journal helps you reach this realization, and then from there you can learn to hone your skills and start making predictable and well researched trades that follow a plan, instead of claiming to do so while the facts clearly state otherwise.

Everyone gets what they want out of trading. If you approach journaling as a negative or "why am I doing this", then clearly it is not going to benefit you.

The journal is for you. It's not to show off. Just keep it honest, that's crucial. When people ask questions, it forces you to think, also crucial. When you explain something, again it forces you to analyze your thought process, which is always a good thing and often uncovers mistakes.

Mike

I still have to see the first journal that include all of the trades that are taken. All I have seen is dishonest people that are posting only winning trades just too show how good they are. If you ask them for an account performance then all off the sudan it is quiet or you get a silly answer that the loosing trades are irrelevant.

I think this website is great when you are beginning, you can get all kind of valuable information but when you finally are doing good in trading, be profitable etc.. you just have to go on. There are some things like Anna said in here post about the distraction and the mental stuff that are influence me in the negative way so every one has to judge for his own if it is good or bad. If it is good just continue here on futures.io (formerly BMT) if it is bad just tray too post as little as possible here on futures.io (formerly BMT).

Good trading,
JJ

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  #25 (permalink)
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jsengxx2 View Post
I still have to see the first journal that include all of the trades that are taken...

Me think Anna's journal would satisfy your expectations, no? as well as the one by backman tturner86 overdrive

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  #26 (permalink)
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jsengxx2 View Post
I still have to see the first journal that include all of the trades that are taken. All I have seen is dishonest people that are posting only winning trades just too show how good they are. If you ask them for an account performance then all off the sudan it is quiet or you get a silly answer that the loosing trades are irrelevant.

I think this website is great when you are beginning, you can get all kind of valuable information but when you finally are doing good in trading, be profitable etc.. you just have to go on. There are some things like Anna said in here post about the distraction and the mental stuff that are influence me in the negative way so every one has to judge for his own if it is good or bad. If it is good just continue here on futures.io (formerly BMT) if it is bad just tray too post as little as possible here on futures.io (formerly BMT).

Good trading,
JJ

You are going about this all wrong.

If you don't like someone elses journal, stop reading it.

Create your own journal and post to it. That is the task, if the goal is to make you a better trader. Don't worry about what others are doing. There are many different people in the world. Some are drawn to certain characteristics, others different ones.

Just do your own thing.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

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.

If you want
to support our community, become an Elite Member.

Reply With Quote
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  #27 (permalink)
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jsengxx2 View Post
I still have to see the first journal that include all of the trades that are taken. All I have seen is dishonest people that are posting only winning trades just too show how good they are. If you ask them for an account performance then all off the sudan it is quiet or you get a silly answer that the loosing trades are irrelevant.

I think this website is great when you are beginning, you can get all kind of valuable information but when you finally are doing good in trading, be profitable etc.. you just have to go on. There are some things like Anna said in here post about the distraction and the mental stuff that are influence me in the negative way so every one has to judge for his own if it is good or bad. If it is good just continue here on futures.io (formerly BMT) if it is bad just tray too post as little as possible here on futures.io (formerly BMT).

Good trading,
JJ

Well it is obvious you have not seen my journal. Mind you it might be a journal you want to read...as it is based on equity and is Long term trading...not options, commodities, futures, day trading...so it might not fit your interest. But I have created a portfolio of stocks since February, bought and sold from this portfolio, announced my trades the day before, updated the portfolio status 2x/week

I do this journal for a number of reasons.

1. It helps me in my real life portfolios because I must think about why and what I am doing regularly.

2. I enjoy discussing my version of Technical Analysis when asked about it. I especially like helping newbies who are trying to fine their way....they may not accept my approach but hopefully I can lead them off the path of gut feel gambling.

3. Finally there is no better way of improving your craft than trying to teach it. I have discovered new approaches to what I do simply by trying to explain what I do...it is win/win in my opinion.

@jsengxx2 you have been on this site for 3 years...based on what you have said - "when you finally are doing good in trading, be profitable etc.. you just have to go on.

I have to ask... Why are you still here???

I am curious...

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  #28 (permalink)
Market Wizard
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jsengxx2 View Post
I still have to see the first journal that include all of the trades that are taken. All I have seen is dishonest people that are posting only winning trades just too show how good they are. If you ask them for an account performance then all off the sudan it is quiet or you get a silly answer that the loosing trades are irrelevant.

As I said before, mine have always done so. There are many others and I'm sure many, many private and better ones that do too. I don't recall seeing yours though?

It's not about what we see in other's journals, it's about what we write in our own. For some the re-reading is important, for others the act of writing honestly is all that's needed, whether anybody reads it or not.

Travel Well
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  #29 (permalink)
Market Wizard
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Anna K View Post
Let's look at it another way. If you are trying to be a tennis player, for example, do you post your mistakes online hoping that somebody will help you solve them?

No, you either hire a professional coach, or you study the game yourself by watching the masters and analyzing what you do differently, where you fail, what is your weakness, where do you make mistakes, and you practice.

Of course it's an extreme example, but still there is something to it.

Yes, and if you can afford to hire a mentor or feel more comfortable using one then go for it. I couldn't have done, but I don't knock it either. Journalling on the other hand is free, should be kept simple, and done differently at various stages of the game.

You still seem to be focussed on seeking advice or help, and yet as regards gurus and advice and distractions it also becomes clear when somebody has been given advice they would rather not hear. For example they have been told they're overtrading many times and continue to ignore it. I also did it for years, several folks had to use cricket bats to finally get the message through to me before I could see it.

Want to know the real reason why struggling traders get uncomfortable journalling? It's when they realise they don't yet have a working edge that they are confident in, but would rather stay in denial making dozens of random trades that have no edge, no meaning and no lesson attached. Been there, done that a thousand times as well.

These are the times where the journal is the most important and it says "going to review/study/learn' for X days/weeks/whatever now, sure as hell no point trading this month." That's how honest our journals have to be, it's also the time when we have to be most honest with ourselves. I am, I still don't know if I will be trading after 2015 - how could I know?

Travel Well
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  #30 (permalink)
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ratfink View Post
Trust a woman to need the last word. That's at least one assumption for at least one of us.

I don't understand, was it meant to be funny or offensive?

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