Should I maintain a journal for my trades?

A key tool most of the successful traders prefer using is a Trade book. The reason we keep trade book is so we can easily go back and review past trades and figure out what went right, what went wrong, and attempt to figure out why. There are many different ways that you can keep your own trading book. In this blog, I am going to show you how I started keeping my trade book in an excel sheet, how can you do the same, and how can you even download this template for free!

My trading journal template came about after reading “Trading in the Zone” by Mark Douglas. One of the suggestions in his book is to keep a trading journal of all of your trades in the market so you may perform a post analysis of exactly what you did and why you did it. He stressed the importance of recording the information as soon as possible, preferably immediately. The reason is because the longer the wait to record our decisions, the more time we give ourselves to justify them. A good journal will capture your actions asĀ  close to raw as possible.

I chosen Excel because that is the most used and easiest workspace where I can keep just about everything I wish to track, plan with, analyze and maintain my profit & loss accounts.

Click on the below link to download your Tradebook now –

Download Tradebook

 

3 thoughts on “Should I maintain a journal for my trades?

  1. Really so helpful to maintain our trade records as well as our strategies..

    And also keep us disciplined while taking decision on basis on past trades.

    Thanks for sharing SIR

  2. I used to maintain a trade book since 2014 then I thought why you need it?

    After reading this I realised one must have it.

    Thank you for sharing your knowledge every day.

    It will help small traders like me.

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