I am wondering if anyone still uses a paper journal of some type in their trading?
I am wanting to install a new journaling system in my trading, and I have always been the kind who likes to write things out. I have been jotting info down on random spiral bound notebooks lately and I wanted to see if anyone has a good system/product that they like...
Also plan on printing out charts and trade analyzer results...
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I am not a pen and paper kind of guy, but years ago I did find it helpful to print out charts and then spend a few hours in my leisure time just studying them, marking them up, and making notes. I would then go back and compare what really happened the next day or week to what my notes or markup showed.
There are smarter (eco friendly, greener) ways to do the same thing these days.
You could get a Wacom tablet for instance and mark up digitally. Or you could use something like the Samsung Note 2 phablet that has a built-in pen and you can take notes or mark up digitally there as well.
I'm torn between the tactile feel of hand writing a journal versus entering everything into a computer. It's a known fact that writing activates areas of your brain which typing does not. I like the methodical nature and the time it takes to do it.
The only advantage I would say a computer has over a hand written journal is the ability to keyword search, otherwise there wouldn't even be a debate in my mind.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
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Trading: Futures & Crypto
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You can preserve the tactile feel by using a digitizer like I mentioned, and preserve the earth by not using paper, plus have the convenience of having it on the computer.
Given the toxicity of the production process (especially when you start with mining the minerals), and of the product itself, and given how quickly people go through their gadgets, is "paperless" really more eco friendly?
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Trees are carbon neutral. You could "s ave" trees by not cutting them down to make paper and it would matter not a whit as far as far as the balance of gases in the atmosphere.
There is an interesting proposal to sequester carbon at fopap.org to raise forests for the express purpose of milling paper and burying it underground for an indeterminate time.
Off the OP topic, but just came across this in today's Guardian:
And it takes around 72,000 litres of water to produce one of the 'chips' that typically powers your laptop, Sat Nav, phone, iPad and your car. There were over two billion such chips produced in 2012. That is at least 145 trillion litres of water. On semiconductor chips. In short, we're consuming water, like food, at a rate that is completely unsustainable.
I record my emotions during a trade; pen and paper (sorry environment); I review with an eye to see if my emotions are affecting the way I enter, exit and manage a trade.
I also note how well I followed my trading plan.
When I review my trades after the fact and see an obvious error, I now have the answer to “What the hell were you thinking?”
