Trading Journal Basics 101

SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY

Trading Journal Basics 101

During my trading career one of the most important elements of trading is keeping records of your trading performance. Whether its using an excel document or software such as the EDGEWONK TRADING JOURNAL, its crucial to see where you business has come from and where its going!! Below is a small detailed list of elements of a trading journal;

1. Date/time entered and exited trade
2. Asset traded
3. Long or short trade
4. Entry/ Stop loss and target price
5. Risk/Reward
6. Exit price. Did i exit at the target price? If not why?
7. Profit/Loss
9. Pips amount
10.Balance
11. Notes on trade ( both Pros and cons)
12. How can i improve next time?
13. Missed trades?
14. and many more....

Once again this is just a very basic list and there a lots more that can go into the journal.


Note: Edgewonk is by far the best trading journal software that i have ever used. I highly recommend it and if you would like to know more please let me know :)

Happy Trading