[Mackan]

So I’ve seen a lot of talk about trading journals here and elsewhere but how will they actually improve my trading results? Do those using them really see a genuine uptick in performance?

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[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.

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[Joan]

Mackan, it’s hard to tie a journal to an uptick in performance per say but most people you ask, me included, will say it goes a long way in keeping you disciplined. I see very few downsides to keeping one so if you’re on the fence I would do it.

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[Major Trader 35]

Try it and if it doesn’t help stop using it? Simples.

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[Mackan]

Yeah I think I’m coming round that I may as well just try it. I can always sack it if it doesn’t help like you guys have suggested. Will try and remember to come back here and let you know how I get on.

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[Author]

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