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The benefits of creating a journal in this forum


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The benefits of creating a journal in this forum

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  #1 (permalink)
 Big Mike 
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My main purpose in starting my blog was to hold myself accountable. I knew that by doing so my trading would improve, because I finally made the huge revelation that I (my brain) was holding back my own profitability for one simple reason. I wasn't being honest with myself. I was constantly making excuses as to why something didn't work.

It was absolutely crucial my trading improve, so I decided to leap forward right to the edge -- and start my blog and start putting everything out there for public consumption and public accountability.

Almost immediately, I found the blog to drastically improve all of my weakest areas of trading -- the mental side of things that were previously holding me back.

The community was very receptive to my blog, so I started the forum. The main purpose of the forum was to give back to others, and give them the tools and the avenue to make similar revelations in their own trading.

So, why start a journal here in the forum?

- Opportunity to be honest with yourself
- Reflect upon what worked, and what didn't
- Improve your trading, take it to the next level

What not to be afraid of:

- People questioning you
- Someone thinking your dumb, or your trades are dumb
- Your charts won't make sense to others
- The instrument you trade isn't popular in the forum

The journal is to help the person posting it (that would be you). Sure, viewers and outsiders looking in can benefit, but the best way they could REALLY benefit would be to start their own journal. You can't be a successful trader by simply copying what others are doing.

I hope to see more of you creating your own journals here on the site and updating them on a regular basis. Your journal can be as detailed or summarized as you wish, it is up to you. I suggest you briefly describe your entries, then post charts showing the days activity. You can go further if you wish by posting Profit and Loss reports. It is entirely up to you.

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  #2 (permalink)
 Big Mike 
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If you prefer an excel spreadsheet based journal, I created this post for you and attached a spreadsheet here:



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 CaptainKirk 
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Big Mike, thanks for the spreadsheet.
Here is a spreadsheet (you must enable macros) that will capture your screenshot (I use Gadwin PrintScreen, to put it in the paste buffer).

Anyways, you take you screenshot, pop into Excel, hit Ctrl-T, and it creates a TABsheet, puts the date/time on it, moves to a specific row/column, pastes the screen in, resizes the screen, and puts your cursor up top so you can take quick notes.

Hopefully someone can take advantage of this. I like it because it captures the screen I was seeing when I made the decision to get in.

The spreadsheet is unlocked in case people want to change the macros...

Enjoy.

Kirk Out!
PS: My first post, took me a couple of minutes to add the file. Hope people enjoy it.

Attached Files
Register to download File Type: xls MyTradeBook.xls (159.0 KB, 942 views)
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 mindfultrader 
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Big Mike

This is what I know will benefit me and I have told myself that I woudl keep a journal ona daily basis. Still wonder if I can but I do know I do believe this - that a forum, a place to journal my experiene will change everything and I am ready for that kind of change. Yoda saidit well: "There is no trying, only doing" and I have been trying for too long!

Thank you for the boost!

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 hadamkov 
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As many say, there is nothing more valuable in learning than on-hand experience.

My trading method is mainly discretionary so starting a journal here makes me sit glued to my charts and not concentrating on too many things at once. It is a real kick to start what I should have strated long ago. So much different from sitting in front of static charts and just checking what happened.

This is real.

Thanks.

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  #6 (permalink)
greedforsuccess
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The idea for sharing is good, but also brings a lot of distraction. Especially for those who mainly scalp.
About 3 years ago I started to describe my trades in excel with pictures(one at the moment of entry, second with stop at break even, third at close and fourth after 10-20 minutes to see if my close was really good), but only after few days I realize that if I am wrong with something is not my discipline or honest, but my knowledge about market dynamics. Then I had to get deeper look on what Al Brooks has written in his book and then I discovered what my trading really needs.

Thanks a lot to Al and now to Big Mike for this forum. It is a really nice place

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 Yuri57 
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The only way to learn trading is to start reviewing your own mistakes and trying to get rid all of them.

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lezzlee
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Yuri57 View Post
The only way to learn trading is to start reviewing your own mistakes and trying to get rid all of them.

I totally agree!

However, I've found that it takes time to learn what is a mistake. One must practice a strategy to have enough trades to review.. then needs to iterate.. until consistency and profitability reached.
One might call this backtesting but the point here is that it is unlikely that logging the first attempt will take anybody to perfection.

Sometimes it took me 3-4 times of different 30-40 trade attempts to separate wrong, good but turned to bad, bad but turned to good (these are the worst mistakes) and good trades. I wish I've done all in sim

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 JPJ Trading 
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If I may offer some advice. Keeping a journal is a great idea, however I would make a suggestion.
Most people record in their journals both winning and losing trades. I would focus more on the trades that did not work and for the following reasons:
1. If you are sticking to your trading plan and your trades are working then Great!
But
2. If you are not sticking to your trading plan and are making revenge trades or becoming impatient and just making trades to make a trade these will all show up in your journal if you keep track of them.
If you keep doing the same thing over and over making the same mistakes..well, that is insane.
So first you need to find out what you keep doing wrong, remember you can't fix it if you don't know what you keep doing wrong over and over. Focus more and why you are losing and fix it, the winners will take care of themselves.

I hope this helps,
JP

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ofatrader
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Hi jpj,
Good advice, but to know how are you working with your winners and what are you doing can give you the knowledge for to recognise winner trades patterns. You can know how you are playing your winners and adjust your system to made it better.
All is important in trading

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 hadamkov 
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JPJ Trading View Post
If I may offer some advice. Keeping a journal is a great idea, however I would make a suggestion.
Most people record in their journals both winning and losing trades. I would focus more on the trades that did not work and for the following reasons:
1. If you are sticking to your trading plan and your trades are working then Great!
But
2. If you are not sticking to your trading plan and are making revenge trades or becoming impatient and just making trades to make a trade these will all show up in your journal if you keep track of them.
If you keep doing the same thing over and over making the same mistakes..well, that is insane.
So first you need to find out what you keep doing wrong, remember you can't fix it if you don't know what you keep doing wrong over and over. Focus more and why you are losing and fix it, the winners will take care of themselves.

I hope this helps,
JP

Thanks, JP, however, I guess this is a good response which says the opposite:

TraderFeed: Solution Focused Trading

All best.
H

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lezzlee
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Hi buddies,

here's a "mixed salad" of my thoughts and experience.

First, sure you know the 80/20 % rule. For example, most probably 80% of your profit comes from 20% of your winning trades. Okay, you can improve your entries but see this. 80% of your loss comes from 20% of your losers. Now that's what needs attention, imho. Keep in mind that there is no perfect system so losses will be with you as long as you trade. But size matters..

Second, read this: Forget About Setting Goals. Focus on This Instead. - James Clear
For me, this is the ever best advise for traders. The system is more important than the goals! Sharpen your system and operate it day by day. You should reach your goals.. or even more.

Logging all of your trades is the best. You can find cyclical things like trades in the lunch time are losers or long trades on Wed, Thu on some instrument are the most profitable. What can you do? Avoid trading in the lunch time and focus on the best days of week. There is life outside and now you know when to sit at your computer.

For such analysis you need to have both winners and losers, trade times and instruments. And most importantly you must do the homework with it!

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 sands 
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lezzlee View Post
Hi buddies,

here's a "mixed salad" of my thoughts and experience.

First, sure you know the 80/20 % rule. For example, most probably 80% of your profit comes from 20% of your winning trades. Okay, you can improve your entries but see this. 80% of your loss comes from 20% of your losers. Now that's what needs attention, imho. Keep in mind that there is no perfect system so losses will be with you as long as you trade. But size matters..

Second, read this: Forget About Setting Goals. Focus on This Instead. - James Clear
For me, this is the ever best advise for traders. The system is more important than the goals! Sharpen your system and operate it day by day. You should reach your goals.. or even more.

Logging all of your trades is the best. You can find cyclical things like trades in the lunch time are losers or long trades on Wed, Thu on some instrument are the most profitable. What can you do? Avoid trading in the lunch time and focus on the best days of week. There is life outside and now you know when to sit at your computer.

For such analysis you need to have both winners and losers, trade times and instruments. And most importantly you must do the homework with it!

lol..very true, it typically can take a lot of time to accumulate a return, and very little time to give it back to the market. Especially when learning.

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 sands 
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Journal the good and the bad, and make yourself a trading robot. making yourself mechanical and following your plan works in the longer run in refining your trading plan through lesson's you've learnt, and cutting out making the same old mistakes through less qualitative/psychological based decision making. It also forces you to learn about the markets and different approaches to understand why what happened, did happen.

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 Anna K 
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After a few people have quit or temporarily stopped journaling on futures.io (formerly BMT) and after reading some of the journals, I'm trying to figure out the value of journaling here, meaning public journaling. I definitely see the value of journaling, but what is the value of doing it publicly?


The negatives are:

- too much distraction
- much more work to maintain than a private journal
- too much conflicting or outright bad advice
- some advice is so confusing, if makes you question your own sanity
- danger of following a guru
- some people report that the forum influences their trading decisions
- messes with one's psychology and trading is a mental game
- added pressure to reply to the comments you don't feel like replying
- puts pressure on to perform, even though it is anonymous, we all are human and hate looking "bad", for the lack of a better word
- how many successful traders are actually journaling publicly?
- may be it's not a coincidence that successful traders hate sharing their PnL?
- you end up comparing yourself with others, whether you want it or not, perhaps even subliminally. we are only human

The plusses are:

- keeps you accountable, but so would a private journal and your pnl, if you document your every trade and reasons behind it
- you get some good advice, but after a while, you got all the advice already, you know what you need to do - develop your own thing, test it and trade it
- may help you develop your method initially, so good for beginners, but at the same time may make you constantly change it instead of sticking with what you know
- if you have a particular issue you are trying to figure out, then may be posting a few charts to get somebody else's opinion is good, but what's the value of every day posting?


I'd like to hear what everybody else thinks. thanks!

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 ratfink 
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Anna K View Post
I'd like to hear what everybody else thinks. thanks!

The journal is whatever you make it, that's the main point. The time that exists between trades that need to be taken is far greater than the effort and time it takes to post a simple journal entry.

Most make it too complicated, thinking they need to find every emotional glitch or technical chart snag or discuss a dozen different ways of doing something. It's much simpler - say what you did, why you did it and what happened. It's for your benefit first and foremost, anything else is a bonus, and a handful of lines is plenty.

As regards looking good or looking bad, you have to get way past that in the real hot seat so I think you should discount that. We all screw up, usually in style at some point, and usually frequently in some phases of the journey. It's irrelevant and it will always happen.

As regards distractions, advice, gurus and all the other shizzle, the same applies, if you can't ignore them in a journal then there's no chance in the hot seat.

If you want to find a method, hone an edge and really make progress at this job I think it's hard to beat. I've kept two real slum dog chat holes of journals and I would have no chance of doing what I can do now if I hadn't kept them. Despite how casual they are I have always recorded a summary of all trades taken, always both winners and losers. I have also run three separate monthly evaluation exercises, in each case achieving terrific gains and then blowing them out, all in public. No better therapy exists. I am currently in the fourth, this time with more paint.

For me one of the most important aspects comes from one of my sports. The phrase 'having your card marked' has several meanings, some rather dark. I prefer the golf one - you don't play a game of golf and mark your own card, you swap cards and cross check for good reason - because real mistakes get made and because rose tinted spectacles appear out of nowhere. It's just too easy to say to ourselves 'I know what I should have/would have/must do/will do'. No, you have to say what you actually did do, only then is it real. And only then will change occur for the better.

Journalling is like sharing our cards, we can be confident that what we see is real and know where we are in the journey, no point pretending to ourselves otherwise.

Keep them short, light, honest, direct and simple. No great audience needed and no more detail needed, it either tells a good story and each chapter made a difference to our life or progress, or we weren't serious anyway.

Travel Well
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 Anna K 
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ratfink View Post

As regards distractions, advice, gurus and all the other shizzle, the same applies, if you can't ignore them in a journal then there's no chance in the hot seat.

It's much easier to ignore something that doesn't exist

all these "distractions, advice, gurus and all the other shizzle" don't exist in your private journal

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 ratfink 
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Anna K View Post
It's much easier to ignore something that doesn't exist

all these "distractions, advice, gurus and all the other shizzle" don't exist in your private journal

Yes, I know, but there are still plenty in real life. Get used to making your own judgements about how long the lines between the two different sets of arrows are, not picking the one the rest of the group says is the longest.

Best of living and trading to you.

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 Anna K 
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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.

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 Anna K 
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ratfink View Post
Yes, I know, but there are still plenty in real life. Get used to making your own judgements about how long the lines between the two different sets of arrows are, not picking the one the rest of the group says is the longest.

Best of living and trading to you.

you are right, there is plenty in real life, why add more???

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 ratfink 
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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.

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 Big Mike 
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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.

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 Big Mike 
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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.

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  #24 (permalink)
 jsengxx2 
Portugal, Viana do Castelo
 
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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)
 trendisyourfriend 
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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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 Big Mike 
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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

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  #27 (permalink)
 Underexposed 
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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)
 ratfink 
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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.

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  #29 (permalink)
 ratfink 
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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?

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  #30 (permalink)
 Anna K 
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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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  #31 (permalink)
 ratfink 
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Anna K View Post
I don't understand, was it meant to be funny or offensive?

Funny. My bad if you took it wrong. Could have been either of us ending up with last word.

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  #32 (permalink)
 jsengxx2 
Portugal, Viana do Castelo
 
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It was not my intention to make some people angry, it is just my opinion. If I see a journal that is wrapped up with nice charts with drawn in arrows where a trade occurred I just get a little bit suspicious.

Best way to prevent this is just posting the account performance.

There is another thing that I feel is missing in the journals, the MFE and MAE. If I take an X amount of trades and suppose my target is 10 ticks then I want to monitor the move after my target is hit. If price is going +60 ticks then I basically am leaving 50 ticks on the table, if you have this for 50-100 trades you then can calculate the best target, average move. The MAE can give you the perfect stop loss.

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  #33 (permalink)
 Anna K 
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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

well, I don't know, but it seems to me that people can lie in a public journal and be honest in a private one. Most are posting trades after the fact. So while I agree that accountability is important, public journal doesn't guarantee it at all.

As for people stating that the journal helped them, may be it did at some point. But is this the benefit of journaling or journaling publicly? how do you separate the two?

I've also stated in the beginning that it helped me, now I'm not so sure. And I didn't approach it negatively, I was very positive in the beginning...

Do you have any statistics on how long an average active journal last?

What % of people journaling here go on to become successful traders?

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  #34 (permalink)
 Anna K 
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Big Mike View Post
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

I don'g find journaling difficult because I overtrade. It's just the same 1 or 2 charts that I post daily regardless of the number of trades.

The difficulty comes partly from "all the coaches coaching at the same time different strategies", as @rmejia said in my journal.

Party, from the amount of time it takes.

And party because it messes with my confidence when I'm told this strategy will not work. I don't see too many people coming in saying this will work if you do this or that. I mostly get, this will not work because it can't.

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  #35 (permalink)
 tturner86 
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Anna K View Post
well, I don't know, but it seems to me that people can lie in a public journal and be honest in a private one. Most are posting trades after the fact. So while I agree that accountability is important, public journal doesn't guarantee it at all.

As for people stating that the journal helped them, may be it did at some point. But is this the benefit of journaling or journaling publicly? how do you separate the two?

I've also stated in the beginning that it helped me, now I'm not so sure. And I didn't approach it negatively, I was very positive in the beginning...

Do you have any statistics on how long an average active journal last?

What % of people journaling here go on to become successful traders?

The problem with a set % is most journals do not have an end. If someone is successful they tend to leave, same if they are not successful and blow out their account. No one ever comes back and says "Hey I made it!", or "I quit." They just fade into the ether. (Not saying it hasn't happen, but that is an exception and not the norm.)

You journal for yourself, and as long as it stays helpful then continue to journal. I am going to be honest and I don't mean to offend you, but you have placed a lot of focus on whether to journal publicly or not. I think you should focus on your trading and understanding the market more then whether or not to publicly journal.

Again I am not trying to be harsh, but you have to make a decision and do it. Take a week off from posting, relax.

People journal for different reasons. I journal for this discussion with others, sharing ideas, marking what I was thinking so I can come back later and see if that is still valid.

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 tturner86 
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Anna K View Post
I don't see too many people coming in saying this will work if you do this or that. I mostly get, this will not work because it can't.

I think that in itself should tell you something. Short term scalping, especially when you are targeting less then you are risking is a lose:lose game.

Risking more then you are targeting will cause you to need a 75% or more win rate which is unobtainable for some people just to B/E. Add in commissions and slippage and it is easy to lose.

Key in trading is to position yourself in a way where you have the best opportunity to make the most amount of money. Scalping puts you at a disadvantage at the get go. The only reason people are advising against it is they have been there and not succeeded.

Trading is a math game and the numbers are not good for scalping.

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  #37 (permalink)
 Anna K 
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tturner86 View Post
I think that in itself should tell you something. Short term scalping, especially when you are targeting less then you are risking is a lose:lose game.

Risking more then you are targeting will cause you to need a 75% or more win rate which is unobtainable for some people just to B/E. Add in commissions and slippage and it is easy to lose.

Key in trading is to position yourself in a way where you have the best opportunity to make the most amount of money. Scalping puts you at a disadvantage at the get go. The only reason people are advising against it is they have been there and not succeeded.

Trading is a math game and the numbers are not good for scalping.

but THERE ARE many people who do this successfully! There are lots of journals here of people scalping for 1 point! or am I wrong? @Big Mike

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  #38 (permalink)
 Anna K 
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I think I put together a pretty good list of pros and cons of public journaling here, but it seems that there is no discussion of particular points. It feels like "take it or leave it" attitude.

It seems that discussion in general is not terribly welcomed here at futures.io (formerly BMT), unless we all agree. This is not the first time I've noticed this. And I'm not the first one. If you stray against the party line or dare question the guru, you are often forced out of the thread or intimidated.

It's not about having the last word, or whatever, it's about open discussion and learning, or so I thought. Nobody here even agreed that at least some of my points are somewhat valid. It was - you are just doing it wrong.

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  #39 (permalink)
 Big Mike 
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Anna K View Post
I think I put together a pretty good list of pros and cons of public journaling here, but it seems that there is no discussion of particular points. It feels like "take it or leave it" attitude.

It seems that discussion in general is not terribly welcomed here at futures.io (formerly BMT), unless we all agree. This is not the first time I've noticed this. And I'm not the first one. If you stray against the party line or dare question the guru, you are often forced out of the thread or intimidated.

It's not about having the last word, or whatever, it's about open discussion and learning, or so I thought. Nobody here even agreed that at least some of my points are somewhat valid. It was - you are just doing it wrong.

Often you'll find the more experienced traders are simply tired of repeating themselves. It's a problem, the longer the forum is around, the more everything has already been said.

And most of us find that there is no way to convince someone who doesn't really want to listen, in fact the best way for them to learn is for them to discover it on their own. Only once they are ready to listen to others does it make sense for others to be spending time talking.

Scalping is the most difficult thing you could do as a retail trader. I would highly recommend against it. Not worth saying anything else, as you already know my position and you can read about this 1000x times over on the forum if you want to understand why.

Mike

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  #40 (permalink)
 PandaWarrior 
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Anna K View Post
but THERE ARE many people who do this successfully! There are lots of journals here of people scalping for 1 point! or am I wrong? @Big Mike



I said I would quit harping on you....but for some reason I can't leave it alone......sorry.....

Of course there are lots of journals by people scalping for one point......but are they successful long term? That is the question you must ask yourself and them.

Scalping is so very attractive. In and out quick. Take your money and go home.....supposedly low risk.

And its possible. For some very very very very disciplined traders.

Ask yourself "Do I have the iron discipline to only take the exact set ups this scalping method calls for 20 times a day 5 days a week, 240 trading days a year for 20 years and ONLY take those exact trades?"

If the answer is no, and for most of us it is resounding no, then the answers lies elsewhere. And that is something you must find for yourself......what I and all the others are trying to help you with is avoiding the black hole of scalping and get you to focus your attention on something with more long term viability.

That's it. If you read something else into it, you are wrong. If you think we are against you or think you aren't capable of finding a way that works for you, you are wrong. Its just finding out scalping is normally a fools pursuit usually takes the average stubborn trader several years of pain and frustration to finally acknowledge its futility and move toward longer term trading.

Now make no mistake, if you are an intraday trader, all the other traders will call you a scalper. That's ok, what we are talking about here is being ok with a much lower win rate while still being profitable longer term. For instance, I have around a 40-45% win rate, but I am net positive every month. That's all I care about. The net.

And finally, the holy grail really isn't in how you enter, although that's important to minimize risk, or how you exit, thats how you maximize profits, or even your win rate.....the holy grail of trading is something called money management. This is NOT as many surmise, the size of the stop. It has everything to do with how much you risk on any one trade, how you size up and down depending on risk and when to increase or decrease your base size. There are any number of ways to do this but money management will either make you or break you.

When I'm trading poorly, money management keeps me in the game, when I am winning money management helps me maximize my opportunities.

Did you know there is a way to manage money that ensures you can lose for 6 months in a row and still have 75% of your initial capital intact? This is what trading is all about. Risk and money management.

So instead of focusing on scalping vs everything else and wondering if everyone is against you, listen to people that have sweated blood to learn what they are telling you.......

Trade less, hold longer and finally, learn how to manage your money if you haven't already.

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  #41 (permalink)
 Anna K 
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lol, I thought it was a discussion about how, why and when to journal, not how to trade...

Now I understand that the reason for keeping a journal is to be told that scalping is unsustainable!

But seriously, I do appreciate everybody's comments, even though I may disagree.

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 Big Mike 
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Anna K View Post
lol, I thought it was a discussion about how, why and when to journal, not how to trade...

Now I understand that the reason for keeping a journal is to be told that scalping is unsustainable!

Not sure where all your negativity is coming from or why. I was responding to your post #37 and #38.

You have all the answers you need. So stop asking the question about scalping, and instead do your own research. Are you long term profitable with scalping? If yes, then who cares what anyone else says.

Mike

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  #43 (permalink)
 Anna K 
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Big Mike View Post
Not sure where all your negativity is coming from or why. I was responding to your post #37 and #38.

You have all the answers you need. So stop asking the question about scalping, and instead do your own research. Are you long term profitable with scalping? If yes, then who cares what anyone else says.

Mike

I wasn't trying to be negative. I was joking in the above post . I may ask u the same question about negativity.

And I wasn't asking about scalping mostly. I was asking about journaling, but I get replies only about scalping.
Let's focus on journaling instead.

I got it by now. Scalping doesn't work.

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  #44 (permalink)
 trendisyourfriend 
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Big Mike View Post
Not sure where all your negativity is coming from or why....
Mike

You should be able to read that the perceived negativity is hiding her need for understanding. Trading with an objective of 1 point is doable on the ES and certainly not more difficult or easier than trading for a larger profit with a lower win rate. There are pros and cons for both approaches. The person is just trying to find his way, that's it.

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 Big Mike 
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trendisyourfriend View Post
You should be able to read that the perceived negativity is hiding her need for understanding.

The person is just trying to find his way, that's it.

I would agree, except for posts like this:


Anna K View Post
I got it by now. Scalping doesn't work.

To me, that just signals that all listening is turned off by this user and they simply aren't ready to consider other ideas.

Mike

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  #46 (permalink)
 Anna K 
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@Big Mike This thread is about journaling, not scalping. Let's get back to the topic at hand. That's exactly the reason I got frustrated a bit. I'm trying to stick to the topic, but at this point I just feel that I can't get away from 1 point scalp discussion here.

I've had a lot of discussion about 1 point scalps in my journal already, and I'm fine continuing it there. I do understand your and others point on scalping. You think it's much more difficult to do what I'm trying to do and you sincerely recommend that I try to trade less and hold longer.

And if you've read my thread, you would see that I was trying to hold trades longer and that I'm not dead set one way or the other way yet. I'm still in the process of fining my way.

thanks.

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 rk142 
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Hi @Anna K,

I come and go here and hardly post much, but I saw that @PandaWarrior was posting again and I enjoy his posts enough to look up his recent posts and see where he was commenting. That's how I found this discussion.

I don't think you've gotten much productive discussion here and I understand your frustration, but realistically you've basically already said everything there is to say about the pros and cons of a public journal. The biggest benefit I can see is that it is a gateway to more social interaction on the forum, but I doubt it has that meaningful an effect on the way people trade, and I'm speaking as someone who used to read many of those threads from start to finish. If you have what it takes to gut this out, you're going to gut this out whether you journal publicly or not.

It seems to me, though, that your frustration is not only with the quality of this discussion on the benefits of a journal in the abstract, but with doubts you are experiencing about the benefit of your particular journal. Am I right in thinking that you don't feel you've gotten productive feedback from the wider community? If so, it's worth remembering - and I don't say this with the intent to comment on you or your trading because I haven't read your thread very closely - that you shouldn't expect a journal on futures.io (formerly BMT) to result in you getting the help you need to trade profitably. The lion's share of the work resides with you, or the inner circle of people you can trust. Many of the profitable traders on this board have trading partners outside it. You would probably do better to tell your smartest and most courageous friend that you are attempting to trade.

And for whatever it's worth, my own trading is more in line with the standard futures.io (formerly BMT) advice. In the last two weeks I've taken 11 day trades. I've taken four full stops, two winners of 3 times my risk, and the rest of the trades are small winners and losers, for a total of about 3.5R. It doesn't seem sexy, but it works. Once you get over the hump of exposing yourself to risk it is much more forgiving to trade that way.

Good luck.

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  #48 (permalink)
 Anna K 
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@rk142. Thanks for your comments.You are right, I've said everything I needed to say about journaling. And I'm just going to concentrate on mine. I fully realize that only me can solve my issues. You are probably correct in your assumptions as I am indeed frustrated with my journaling and again, only me can figure out how to fix it.

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 Hulk 
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Anna K View Post
...And I'm just going to concentrate on mine. I fully realize that only me can solve my issues ..... and again, only me can figure out how to fix it.

Not just true for trading, true with any issues generally in life as well. The similarities between the two are astonishing. We spend far more time with things that are not in our control. If we spent that much time with things that ARE in our control, we would be way better off.

As in life, trading is a very individual journey. Most successful people have a unique story, mostly dissimilar. Most unsuccessful people have a very similar story.

I think you are on the right path and I wish you good luck.

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 rk142 
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I agree with @Hulk.

Just one more thought: you might want to take this little contentious detour to stop and decide what exactly you hope to get out of your journal. Many people journal just to share their experiences. Some journal because they hope it will help their discipline. Some journal to show others the techniques they use to trade, or to have a home for their thoughts on trading. And some journal hoping to get some help. (Dark Secret: Everyone journals because on some level they want to be seen and known and admired)

Decide what you want, and frame your journal so that you have a good chance of getting it. If you want to learn to scalp, make that clear and give it a serious effort. If you want criticism of your entries or exits, then ask the users on the forum who you most respect if they would be kind enough to give you feedback. If you work in a smart way you will grow in an organic way into whatever trader you are meant to be. If you work in a silly way you will burn out.

Ok - enough unsolicited advice! I'm motivated now to follow your thread and will be rooting for you.

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  #51 (permalink)
 bobwest 
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Hulk View Post

I think you are on the right path and I wish you good luck.

I quite agree. Good luck, you're doing what you should be doing.

Bob.

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 Traderwolf 
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Anna K View Post
After a few people have quit or temporarily stopped journaling on futures.io (formerly BMT) and after reading some of the journals, I'm trying to figure out the value of journaling here, meaning public journaling. I definitely see the value of journaling, but what is the value of doing it publicly?


The negatives are:

- too much distraction
- much more work to maintain than a private journal
- too much conflicting or outright bad advice
- some advice is so confusing, if makes you question your own sanity
- danger of following a guru
- some people report that the forum influences their trading decisions
- messes with one's psychology and trading is a mental game
- added pressure to reply to the comments you don't feel like replying
- puts pressure on to perform, even though it is anonymous, we all are human and hate looking "bad", for the lack of a better word
- how many successful traders are actually journaling publicly?
- may be it's not a coincidence that successful traders hate sharing their PnL?
- you end up comparing yourself with others, whether you want it or not, perhaps even subliminally. we are only human

The plusses are:

- keeps you accountable, but so would a private journal and your pnl, if you document your every trade and reasons behind it
- you get some good advice, but after a while, you got all the advice already, you know what you need to do - develop your own thing, test it and trade it
- may help you develop your method initially, so good for beginners, but at the same time may make you constantly change it instead of sticking with what you know
- if you have a particular issue you are trying to figure out, then may be posting a few charts to get somebody else's opinion is good, but what's the value of every day posting?

@Anna K,

I think you have outlined to yourself that a public journal is not for you and that is fine.. Even all of your positives had disclaimers("buts") in them ... All is cool.. There is no right or wrong about jounalling.. It is about what you need and feel good about. BTW... I share some of the same ideas as you about distracting questions and comments that are necessary evil in a public journal.

So time to move to the next step of trading.


Seems like to me you need to either find a mentor, join a prop shop, or form a small private like minded group to share ideas about trading, your trading system and your progress. There are pros and cons to all of these approaches.

You seem to have a very sharp mind and and will choose what is best for you.


Best to you.

Wolf

Note: I do not consider any of the chat rooms or services out there mentors. I am talking about professional traders who are able to coach you for free or for pay. I am not talking about wanna be traders acting like snake oil salesmen.

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  #53 (permalink)
 deaddog 
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Anna K View Post
I'd like to hear what everybody else thinks. thanks!

OK point by point

- too much distraction
I agree especially if you are day trading. It means you have to post a review of your trades after you have finished trading. If you are posting your trades at all. You might be posting your feelings or reporting on your discipline.

- much more work to maintain than a private journal
Just post your private journal.

- too much conflicting or outright bad advice
You can choose to ignore it.

- some advice is so confusing, if makes you question your own sanity
Is it confusing or contrary to what you believe? Might it be good advise?

- danger of following a guru
Thatís a choice you as a trader have to make. Does it work for you?

- some people report that the forum influences their trading decisions
This might be a good point. It might keep you on plan. I found when I posted my entries and exits I was more likely to honour them.

- messes with one's psychology and trading is a mental game
Again this might be a good thing in that you realize this is happening. You would have to give a specific example of how this is negative.

added pressure to reply to the comments you don't feel like replying
I found this to be a positive. It is easier to rationalize your decisions to yourself than to others.

- puts pressure on to perform, even though it is anonymous, we all are human and hate looking "bad", for the lack of a better word
I also found this to be a positive. To not look bad you have to have the discipline to follow your plan. If you follow your plan and lose money then you have to take a hard look at your system. Having to rationalize lack of discipline to other trades is a great incentive.

- how many successful traders are actually journaling publicly?
The question that should be asked is how many unsuccessful traders has journaling helped.

- may be it's not a coincidence that successful traders hate sharing their PnL?
I donít think it is anyone elseís business what my P&L is. I report my P&L as a percentage of my capital. If you want to apply those numbers to your capital you can find a dollar figure.

- you end up comparing yourself with others, whether you want it or not, perhaps even subliminally. we are only human
You have to have something to compare yourself to. In my own case I set measurable goals and objectives and give myself a timeframe to achieve them.

As for the plusses;

- keeps you accountable,
Yes you keep yourself accountable. To me this is the biggest plus. Certainly your own private journal will keep you accountable but as I said before it is easier to rationalize your decisions to yourself than to others.

- you get some good advice,
You may get some good advice if you are struggling, however as you said you have to develop your own thing, test it and trade it.

may make you constantly change it instead of sticking with what you know
If your method isnít working you should be changing it. A journal may help you figure out if the problem is the method or the trader.

but what's the value of every day posting?
That is something you have to define for yourself.

Your journal is basically to help yourself become a better trader. You have to ask yourself why you are journaling and what you hope to accomplish. Personally I posted my trades to show that I had the discipline to follow my plan. More for myself than for anyone elseís benefit. I found it helped in that it was hard to rationalize deviating from my plan to a group of anonymous posters and I had to come up with a plan to deviate from.

Good trading.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #54 (permalink)
 Underexposed 
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Anna K View Post
lol, I thought it was a discussion about how, why and when to journal, not how to trade...

Now I understand that the reason for keeping a journal is to be told that scalping is unsustainable!

But seriously, I do appreciate everybody's comments, even though I may disagree.

Well, don't worry, you won't get a discussion on scalping from me... pro or con ... I am sure some are successful at it and just as sure that the great majority are not.

I will make a comment on why some people like journaling in public.

Actually I will keep the subject mainly why I like to journal.

1. First of all, I am a minority in the trading world it seems. I like long term investing and long term swing trades. Especially after the crash of 2008-2009, the talking heads of the media world shouted that long term holds are no longer viable. I take exception to that. I have been a long term trader basically all of my trading life (10+ years), I have never blown an account, I have lived off of my trading income as my sole income for most of that time period and specifically through that 2008-2009 collapse...I cannot say that now because I now get a tiny income from gov't pensions that covers basically my rent...nothing more.

I don't tremble in fear of losing my fortune due to a next day reversal of price...

So I journal to show that one can be successful as a long term trader, posting a fantasy portfolio with $100,000 start since the middle of Feb/2014. I announce my trades buy/sell sometimes hours before and often the day before...it is a fantasy portfolio but it is as real as you can get.

2. I believe I have a Technical Analysis method that works. I do not hide the charts that I use and if you follow my postings you may learn how to do what I do. Though I rarely get a question on my TA, I am open to discussing how I interpret my charts in greater detail... to me it is like reading an Agatha Christie mystery...the clues are there if you put them together

I also believe that Fundamental analysis has a place.... especially for long term trading. I have a basic grasp of financial reports but I could learn more. (I wish there was someone here that liked to tear apart these reports and educate me) I try to show how I use FA info and how to determine market fluff vs hard info

In short I like to educate... especially the newbie.

3. I hate seeing newbies being taken advantage of. On other websites I would openly shoot down the pumper (I hate pumpers) exposing their lies and misdirection. Thankfully I don't get much of a chance to do that here as this website is VERY well run and such people are exposed by BM and banned... you don't know how pleasant that is.

4. Finally, I enjoy discussing stocks. Most of my TA ideas come from discussions I have had in the past with commentors on my approach to trading. Sadly, this is one aspect I have been missing on this site. I put it down to me being a minority trader here as most are day traders in stocks or options, commodities or futures.

I learn as much from the questions I get as I give in my comments

So in a nutshell that is why I journal publicly. I have done here as Underexposed, I have done it elsewhere as Naamplao.

I will give you a clue as to how to find a good financial blogger (a public journal is really a blog, if you think about it...)

I often look for "expert" opinion..... no not Cramer .... hahaha .... he is a media pumper in my opinion.

But if you want to follow someone. Don't take their blog at face value. If they make a prediction or comment on the fortunes of a company in the past (I like to read their comments from at least 3-6 months ago) Now fast forward a few months...how was the prediction?? Are they consistently good in the past...then they may be ok in the present... if they are not, forget about them... and there are a lot of forgettable analysts .

Anyway this is enough of a rant

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  #55 (permalink)
 Rocktrader2 
Dhaka, Bangladesh
 
 
Posts: 7 since Nov 2014

I think there have Four benefits of creating a journal in this forum Reply to Thread.

1. Historical Record

2. Planning Tool

3. Methodology Verification

4. Mind Pattern Modification (Method to Change Habits)


What do you think guys ?

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  #56 (permalink)
sledmt
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Curious, does any on this forum do their journaling in some type of database program. I was looking at doing some journaling for trading, but was considering entering the information in some type of database (SQL, access, dbase, excel). Would give me the quick power to review my trades just by doing custom filters on the data.

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  #57 (permalink)
 tturner86 
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sledmt View Post
Curious, does any on this forum do their journaling in some type of database program. I was looking at doing some journaling for trading, but was considering entering the information in some type of database (SQL, access, dbase, excel). Would give me the quick power to review my trades just by doing custom filters on the data.

I've seen some and have used some excel to accomplish this. Others use online services to track trades. (Tradervue).

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 deaddog 
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sledmt View Post
Curious, does any on this forum do their journaling in some type of database program. I was looking at doing some journaling for trading, but was considering entering the information in some type of database (SQL, access, dbase, excel). Would give me the quick power to review my trades just by doing custom filters on the data.

I use an excel spreadsheet that will give me the following info;
Number of wins, losses, and break even trades plus percent equivalents
Dollar value of the average win, loss and breakeven trade,
Actual Risk Reward ratio
Actual risk (average loss as a percentage of capital)
Expectancy per trade
Realized return as a dollar value and a percent of capital.

Spreadsheet can be sorted by trade type to get the info for each type.

Input data is:
Date; price bought; number of shares; price sold; commission
Type of trade (breakout, pullback, bottom fishing, etc.)


However this data only tells you about your trading results.
You should be more concerned about how you accomplished these results.
A spreadsheet that scores each trade on whether you followed your plan would be of more value.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #59 (permalink)
sledmt
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deaddog View Post
I use an excel spreadsheet that will give me the following info;
Number of wins, losses, and break even trades plus percent equivalents
Dollar value of the average win, loss and breakeven trade,
Actual Risk Reward ratio
Actual risk (average loss as a percentage of capital)
Expectancy per trade
Realized return as a dollar value and a percent of capital.

Spreadsheet can be sorted by trade type to get the info for each type.

Input data is:
Date; price bought; number of shares; price sold; commission
Type of trade (breakout, pullback, bottom fishing, etc.)


However this data only tells you about your trading results.
You should be more concerned about how you accomplished these results.
A spreadsheet that scores each trade on whether you followed your plan would be of more value.

That was more of what I thinking. A spreadsheet or data table that records each trade entry as a function of different parameters. The different indictors that are used to get in and their value at the time of entry.

I could sit down and make a spreadsheet or something, but I was wondering if someone was already using something.

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  #60 (permalink)
 Big Mike 
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Old school



(skip to end of thread)

New school



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sledmt
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What if the indictor is not something that is easily dispelled into a single number, how does this get recorded into the spreadsheet journal?

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 deaddog 
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sledmt View Post
That was more of what I thinking. A spreadsheet or data table that records each trade entry as a function of different parameters. The different indictors that are used to get in and their value at the time of entry.

I could sit down and make a spreadsheet or something, but I was wondering if someone was already using something.

I just assign a point value to each criteria of my trading plan.
For example for a pull back trade:

Stock is in an uptrend.
Has pulled back 3 or more days
Volume has decreased on the pull back
R:R is at least 1 to 2.5
Enter when price breaks prior days high
Stop is just below prior days low
Initial target is last swing high.
Risk less than 1% of capital

Each criteria is worth 1 point.
Meet all criteria add 2 points
Ignoring any criteria is minus 2 points

It doesnít matter if the trade is a winner or a loser following all the criteria gives you a perfect score.

Keep in mind that Iím swing trading stocks.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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sledmt
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Big Mike View Post
Old school



(skip to end of thread)

New school



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Tradervue looks really interesting. Lot of features to this program.

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  #64 (permalink)
sledmt
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deaddog View Post
I just assign a point value to each criteria of my trading plan.
For example for a pull back trade:

Stock is in an uptrend.
Has pulled back 3 or more days
Volume has decreased on the pull back
R:R is at least 1 to 2.5
Enter when price breaks prior days high
Stop is just below prior days low
Initial target is last swing high.
Risk less than 1% of capital

Each criteria is worth 1 point.
Meet all criteria add 2 points
Ignoring any criteria is minus 2 points

It doesnít matter if the trade is a winner or a loser following all the criteria gives you a perfect score.

Keep in mind that Iím swing trading stocks.

Good ideas. I was thinking along those lines. Assigning certain values to certain setups.

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  #65 (permalink)
lezzlee
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Hi sledmt,

I don't know Ninja well enough but many platform includes some kind of trade statistics and graphs.

As I see you basically wants to review your trades with everything on screen compared to statistics and notes only.
Many platform features screenshot functions and volunteers used to upload plugins/indicators which simply take a picture when a trade triggers and/or exits. You might try to find one for Ninja.

As for taking notes.. I can get stats from the platform, I can review the screenshots... so "lyric" notes has not much value for me, strictly personally. But I score the setup, the target and the stop (or the management of them) to evaluate and filter trades and feelings later.

Intraday trading might be busy to jot typed-in notes real-time. I've heard others suggesting of writing with hands and different colors (long-short or win-loss trades) or using a dictaphone (app). But you know what you are able to operate easily.

At some time I found this site: https://www.tradebench.com/
It offers the service for free or more precisely for "a maximum of 2 sponsored e-mails per month".
However, I have not tried it yet (I've found it "too" detailed) but I'd be happy to read some lines if you give it a try.

All the best,
L

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sledmt
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lezzlee View Post
Hi sledmt,

I don't know Ninja well enough but many platform includes some kind of trade statistics and graphs.

As I see you basically wants to review your trades with everything on screen compared to statistics and notes only.
Many platform features screenshot functions and volunteers used to upload plugins/indicators which simply take a picture when a trade triggers and/or exits. You might try to find one for Ninja.

As for taking notes.. I can get stats from the platform, I can review the screenshots... so "lyric" notes has not much value for me, strictly personally. But I score the setup, the target and the stop (or the management of them) to evaluate and filter trades and feelings later.

Intraday trading might be busy to jot typed-in notes real-time. I've heard others suggesting of writing with hands and different colors (long-short or win-loss trades) or using a dictaphone (app). But you know what you are able to operate easily.

At some time I found this site: https://www.tradebench.com/
It offers the service for free or more precisely for "a maximum of 2 sponsored e-mails per month".
However, I have not tried it yet (I've found it "too" detailed) but I'd be happy to read some lines if you give it a try.

All the best,
L

thank you for your thoughts. The Dictaphone idea is interesting. That might something to try.

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  #67 (permalink)
 Pepe2000 
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I have been a member of futures.io (formerly BMT) for a while but only now I read BM's opening of this thread and it is funny how we separately came to the same conclusion about personal trading blog. I created mine for exactly the same reason. I will be posting my results here as well. Thanx.

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 xplorer 
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sledmt View Post
Curious, does any on this forum do their journaling in some type of database program. I was looking at doing some journaling for trading, but was considering entering the information in some type of database (SQL, access, dbase, excel). Would give me the quick power to review my trades just by doing custom filters on the data.

First, I'm posting this to understand if most people here differentiate between a trading journal and a trading log.

When I started trading I put together a fairly straightforward Excel trading log. Currently I am building an Access database and migrating the Excel file across.

Depending on the analyses you need to make, it may be quicker and simpler by filtering the data directly in Excel.

MS Access may give you more power and options longer-term but the initial effort to put it together is significant in terms of man-hours. Especially when considering the number of queries needed to just come up with a simple P/L, you may as well use Excel and a few formulae to get the same result.

It all depends on your trade-off (no pun intended!) really.

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  #69 (permalink)
 Blash 
Market Chamois
Chicago, IL
 
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sledmt View Post
Curious, does any on this forum do their journaling in some type of database program. I was looking at doing some journaling for trading, but was considering entering the information in some type of database (SQL, access, dbase, excel). Would give me the quick power to review my trades just by doing custom filters on the data.

I use and like this Excel based trading Journal. Has only a one time fee (low if you ask me for what you get) and is very comprehensive IMHO.

Trading Journal Spreadsheet ģTrade Tracking , for Elite Traders!

Ron

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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 wldman 
Market Wizard
Chicago Illinois USA
 
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total BS.

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 Blash 
Market Chamois
Chicago, IL
 
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wldman View Post
total BS.


Short'n sweet... But no, tell us how you really feel.....lol

Ron


Sent from my iPhone using Tapatalk

...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
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 tturner86 
Elite Member
Portland, Oregon
 
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wldman View Post
total BS.

God bless you dan...

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DDAVIS4
Delaware, OH
 
 
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My trading started to work better when I started / kept at journaling. My initial problem was I didn't know what or how to write about my trades. So I just started writing out what I did know and every couple weeks I changed it to match what I had learned and what I was doing different. I then created a checklist (see the Check List Manifesto by Atul Gawande) and that made another improvement in my trades.

This past week I was able to do five trades that worked exactly as I had planned:

Date Description Amount Net
8/8/2016 BOUGHT-CALL (WBA) WALGREENS BOOTS AUG 12 16 $80.5 (100 SHS) (Cash) ($157.58)
8/10/2016 SOLD-CALL (WBA) WALGREENS BOOTS AUG 12 16 $80.5 (100 SHS) (Cash) $243.46 $85.88
8/8/2016 BOUGHT-CALL (WBA) WALGREENS BOOTS AUG 12 16 $80 (100 SHS) (Cash) ($838.28)
8/10/2016 SOLD-CALL (WBA) WALGREENS BOOTS AUG 12 16 $80 (100 SHS) (Cash) $1,241.69 $403.41
8/11/2016 BOUGHT-CALL (KMB) KIMBERLY CLARK CORP AUG 19 16 $130 (100 SHS) (Cash)($2,522.76)
8/11/2016 SOLD-CALL (KMB) KIMBERLY CLARK CORP AUG 19 16 $130 (100 SHS) (Cash) $2,677.18 $154.42
8/11/2016 BOUGHT-CALL (GG) GOLDCORP INC COM NPV AUG 12 16 $18.5 (100 SHS) (Margin) ($1,082.76)
8/11/2016 SOLD-CALL (GG) GOLDCORP INC COM NPV AUG 12 16 $18.5 (100 SHS) (Margin)$1,277.21 $194.45
8/12/2016 BOUGHT-CALL (ANF) ABERCROMBIE & FITCH AUG 19 16 $21 (100 SHS) (Margin)($1,251.60)
8/12/2016 SOLD-CALL (ANF) ABERCROMBIE & FITCH AUG 19 16 $21 (100 SHS) (Margin) $1,756.36 $504.76
Each evening I went thru my checklist, put on OTOCO trades and let them run. I do look on during the day when I have time but I'm a consultant working on-site with a client and don't have control over when I can look at or make changes so it is important that I can just put the trade on and forget it.

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 bd92154 
San Diego
 
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@Big Mike

First before I start this short list TY for having a Journaling option available.

Currently I've run into several of the points that Anna K has well outlined here and I agree. Having others comment on your journal can be outright distracting at times.

Since journaling is such an individual endeavor I would like to see more options given for the individual journal author.

My wish list for Journaling options:
1. Private Journal by invite only: A journal that a person can invite members individually to view, or no members.
2. Toggle control for: ___ All other members posting __ PM messaging off related to Journal
3. PDF Instructions for futures.io journaling

Some of these wishes may already exist for journaling and I have just not come across the instructions as yet.

Since essentially we are bearing our trading soul out there with a journal at a minimum I'd like to see the option to turn off all replies other than your own individual posts, while at the same time people could PM you or put a thanks on your individual journal.

Thanks again for such a great site. I think that by making these options available to members or better known if they do exist that more people would journal.

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TraderGriz
Minnesota
 
 
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Mike your original post is so true. Thanks
After 17 yrs of being outta it I decided to try again. Well after 1 1/2 yrs I only made a $100 back then it didn't seem worth my time.
I think a journal would help many. Especially beginners an paper traders. Myself have a small account an make few real trades, so far so good. Also getting into it after such a time I also have 12 pages of different strategies an theory's on paper.

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NerradC
Perth AUSTRALIA
 
 
Posts: 253 since Jun 2017
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Thank you Big Mike for the benefits of posting/sharing journal.
I am truly believer that journal will be helpful to the person who post it. this is really a matter of accountability and of course, open for discussion in case there is an blindspot, which i hope i can learn from others fellow traders.

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 Mightynorsman 
Albany, New York, USA & sometimes Central Florida
 
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Blash View Post
I use and like this Excel based trading Journal. Has only a one time fee (low if you ask me for what you get) and is very comprehensive IMHO.

Trading Journal Spreadsheet ģTrade Tracking , for Elite Traders!

Ron

Good Saturday morning,
I have looked at this multiple times and have almost bought, I just saw your post as I am trying to figure out a better journaling method and was reminded of TJS. So I thought I would ask, do you still use it and does it do everything you need without a lot of extra effort?

Thanks,
Otto

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Renasha
Pretoria South Africa
 
 
Posts: 2 since Sep 2017
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Hi All
I am brand new to trading. I've been playing on a SIM account for about a month now. It is still scary new to me. I hope to learn a lot from all of you.

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whats1thingnow
Whistler, BC
 
 
Posts: 31 since Dec 2015
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kept a spreadsheet journal the last time i was actively trading and was cool to see all the stats and analyse my trades.

now i'm back after a long break and conveniently found this thread.

question for you guys who keep a journal...

when i kept it i found i needed to record the entry right away so i would remember exactly the reasonS for entering the trade. however, i found doing the entry itself taking my focus off from the prices and monitoring for continuation.

what's your experience? how do you find the balance?

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 xplorer 
Site Moderator
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whats1thingnow View Post
kept a spreadsheet journal the last time i was actively trading and was cool to see all the stats and analyse my trades.

now i'm back after a long break and conveniently found this thread.

question for you guys who keep a journal...

when i kept it i found i needed to record the entry right away so i would remember exactly the reasonS for entering the trade. however, i found doing the entry itself taking my focus off from the prices and monitoring for continuation.

what's your experience? how do you find the balance?

I just keep a notepad (Windows) open and quickly jot down the entry type/reason for entering/setup I just took with either the time filled or simply something like "1st trade... 2nd trade... etc.".

At the end of the trading session I download the trade data into Excel and pair the two.

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whats1thingnow
Whistler, BC
 
 
Posts: 31 since Dec 2015
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xplorer View Post
I just keep a notepad (Windows) open and quickly jot down the entry type/reason for entering/setup I just took with either the time filled or simply something like "1st trade... 2nd trade... etc.".

At the end of the trading session I download the trade data into Excel and pair the two.

yeah, i was doing something similar except i was entering some things on excel... then end of day i download the actual prices and data to match the entry exactly

maybe shorter notes would work better or stick to a few trades instead of needing to jolt down a ton of info

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  #82 (permalink)
 deaddog 
Legendary Market Wizard
Prince George BC Canada
 
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whats1thingnow View Post
when i kept it i found i needed to record the entry right away so i would remember exactly the reasonS for entering the trade. however, i found doing the entry itself taking my focus off from the prices and monitoring for continuation.

what's your experience? how do you find the balance?

depending on the number of set-ups you use to enter a trade you can assign a number to your set up and simply record the number.

ie: set-up #1 = breakout to new high

After that you either followed your plan or you didn't.

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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erukumk
Delhi + India
 
 
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Renasha View Post
Hi All
I am brand new to trading. I've been playing on a SIM account for about a month now. It is still scary new to me. I hope to learn a lot from all of you.

Same here brother, just signed up here and trying to get a journal going before starting SIM trading.

erukumk

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erukumk
Delhi + India
 
 
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Guys,

Complete newbie here.

Just went through the post and downloaded the Basic System acct tracking.xls, i have quite a few questions as to what some of the columns mean.

can anyone point me to a resource(or post) which says what each column is? i will be grateful.

Thanks
Erukumk

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 4tison 
PhuKet Island / Thailand
 
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http://Wishing to trade NQ LIVE with 2K, any advice?

Any thoughts or advices on trading NQ with 2k ?

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