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?
Discussions about personal psychology for the individual trader.
2 posts • Page 1 of 1
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:
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."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."