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97 Journal Ing Examples

97 Journal Ing Examples

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Published by: JepT0401 on Nov 21, 2011
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11/21/2011

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I am a day trader. I always fight the impulse of “going to miss the trade”.

For now, this is my weakness I am working on, so this is where I consen-

trate my journal on.

The top of my journal jot a few important things from the previous day.

I dont get into too much detail as I have another worksheet for my daily

analysis stuff, and I screen record the trading day so I can actually go over

the trades to get more insight as to what I could have done differently on

the trades I was too impatient on.

17

The Disciplined Trader: The Psychology of Profits

c 2011

Then I type up a few trading senerios to look for on this trading day. This

keeps me focused so I train my brain what to look for, and what to do if

I see it.

Then I have an area where I keep records of my trades on that day (stops,

profits).

Then I have the area were I keep track of if I followed my trading plan.

For that I have a box where I put a number in for each of these catagories:

How did I take the trade?

1. I waited and traded on a set up.

2. Was impatient and got in before the set up unfolded.

3. Chased the trade.

4. Traded in fear of missing the “Big One”.

Did the trade work:

Yes / No

Then I monitor if it worked and possible reasons why:

1. The trade did what I anticipated.

2. Markets are random and I play against emotional traders. I can do all

things right and still have a bad trade.

3. Even though I was impatient or chased the trade, it worked.

4. I chased the trade, was impatient, and the trade went against me.

In reviewing what did I learn, I can gain confidence knowing I am growing

as a trader. I want to confirm:

1. I can trust my indicators as well as my planned set ups.

2. I am too impatient and trade on emotion, need to work harder on this.

3. We all make stupid mistakes, let’s keep track of how many we make for

future corrections.

If I am seeing too many #3s & #4s here on my journal, I know I am

trading on emotion and not market generated data.

I remind myself to:

LEARN FROM THIS DATA AS THIS IS MY TOOL I USE TO BECOME

A BETTER TRADER.

I attached my spreadsheet with my notes, but from the looks of the others

who posted Excel spreadsheets, you wont get to see much of it.

18

The Disciplined Trader: The Psychology of Profits

c 2011

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