Hello to all, I am a beginner trader hitting brick wall when it comes to my trading journal. Who would say that writing down trades will be hard task?
I trade on the go, meaning that I am always in motion. I realized that I am very bad at writing trading journal so I tried recording it - found out that i am skipping on it as well. As soon as I open a trade, I close the chart and move to do next task, and if I remember I will occasionally see where my position is headed.
I do understand that having a journal is important and yet still looking for ways to make it a thing.
Do you have any tricks and tips on how to create a journal on the go?
It usually helps with research project to start with the answers you want before you start collecting masses and masses of data.
You can even start with just one. Make a list of the answers you need. Select the most urgent of these and start a journal which only answers that one simple but critically important question.
On the go means that I trade while doing other things like watching my kids at the playground, cooking, working out, etc. While I analyze the chart, I do answer all questions I have about entry the trade. I speak to myself out loud when trading so I tried recording but found out that it is harder for me to come back after the trade closes to record review of the trade which I feel the whole point looses its purpose.
I do this too. Sometimes, I pace back and forth just talking to myself. It’s a different mental process when you talk out loud, huh? I’m not sure why…
It sounds like you’re either too busy, or don’t take the time to go back.
How about when the market is closed on the weekend? I know you’re busy with other stuff, but I think you can block out some time in your schedule somehow and review some trades.
The problem is that if you have limited time, you might not be able to review every single trade. It’s quite time consuming. How about reviewing all the trades for two or three specific pairs? Just an idea.
But if you don’t review your trades, you’ll have no idea what went wrong. Your analysis will eventually reveal a pattern in your mistakes.
How about this:
review the trade
write the reason why the trade went wrong
write what should have done
Put all this in a document or spreadsheet. Do this for every week. I’m pretty sure you’ll start to see a pattern in your mistakes and solutions.
That’s amazing idea! It never occurred to me to review on the weekends when the market is closed. I’m taking this to heart and applying it. Thank you so much.
Do you use Tradingview? If you do it has a screenshot/snapshot feature that creates an image or better, a URL to the image of your chart that you can look at later. You could add that into your journal wherever you might keep it.
Honestly, what’s kept me accountable was keeping a trade journal here lol. I find that in order for me to stick to something I need either a group of friends with me or some “outside” influence like posting it publicly.
Maybe you can try that? Just post like literally one liner trade updates?