Reply To: How will a trading journal improve my trading?

#180879
Ximena

    A journal is an extremely valuable tool that can improve your trading performance if you use it correctly.

    The main thing it will do is force you to be accountable for every trade you make. Early in my trading days, I regularly made impulsive decisions based on market hype. After starting a journal and recording every trade, including my rationale and the market conditions at the time I realized I was often swayed by short term noise.

    I also noticed that my trades during high volatility periods were quite often unprofitable. I would get caught in the excitement etc so I shifted my strategy to avoid trading during these times.

    A journal also helped show me that my mid term trades were significantly more profitable than my short term ones. So now I swing trade more than day trade in the whole.

    They might be boring to complete but are well worth it.