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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.
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.
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.
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.
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?
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.
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.