Keeping a journal

Discussions about personal psychology for the individual trader.
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Do you keep a trading/personal journal?

Yes, make entries at least once per day
5
19%
Yes, make entries between 1x/day and 1x/week
5
19%
Yes, "occasionally" make entries
8
31%
I used to but no longer do
2
8%
Never have
6
23%
 
Total votes: 26

drm7
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Keeping a journal

Post by drm7 » Mon Oct 13, 2003 3:17 pm

In my readings of various trading and investment literature, not to mention "self-help" type books, A common thread I see is a strong recommendation to keep a journal. Keeping a journal seems to help us work through our psychological conflicts, plus gives a great record of our decisions, unbiased by hindsight.

How many of you out there keep some type of journal, and has it helped?

Kiwi
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Post by Kiwi » Mon Oct 13, 2003 6:55 pm

For system trading I have used a trading occasionally mainly to note how I felt about something and to note any intuitions I have so that I can check them against later history. For discretionary trading I make and entry every trade so that I understand what is working and what is not. I also like a quote I saw somewhere:
"Let your stops do their job. Don't override your plan. Let the market prove your fears by hitting your stop. When you feel compelled to take the early exit - step away from the mouse - pick up a pen and start writing down how you feel."
The same should apply to anyone considering overriding a system entry. I find writing neatly in my diary to be very calming if bars are going against me and I am holding my discipline with difficulty.

John

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