How can a trading journal help traders improve their performance and reach their financial goals? What are the key features and benefits of a comprehensive trading journal, and how can traders effectively use it to analyze their trades and identify areas for improvement?
It seems some dumb AI is being used for marketing efforts.
I can vouch, used the trading journal and 1,000,000x my returns!!!
Returns went to the moon
Assuming this is a genuine question asked out of curiosity…
Maintaining a journal in general (not just for trading) has been proven to be beneficial.
IMO, 2 major ways journaling helps is
- Forcing one to consciously think about what one recently did (or plans to do soon).
- Having a easy record for a retrospective in future,
instead of having to rely on one’s memory or vague “feeling”.
Specifically in the context of trading,
searching online for “Trading Journal”
throws-up a huge number of free and paid tools and methodologies.
Maybe some of the traders on this forum who do use any Trading-journal tools / frameworks / methods
can share their experience on what worked best for them (and what didn’t)
so others similarly interested can learn from their experiences.
yeah thats true, i keep trading journals that keeps track of these basic things
- what trade i took
- what was the rationale
- did the trade go as per my plan
- the time of trades, net position outstanding, orders (usually i attach the 3 excel sheet from the broker)
over time this approach has helped me stay profitable due to the focus journaling brings. Also during loss making days, i go back and search for the similar situation and see how i dealt with in the past
earlier i used to keep it in my whatsapp group (only me and wife). now i keep it in my Telegram group (only me and wife) as searching by day is easier in telegram.
the rationale of why i took the trade, i did start blogging on my personal website (may be some asset management company might hire me in future seeing my reports )