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Friday Feature: Habits of a Wealthy Trader – Part 2: Journal Your Trades

January 22, 2021

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Trading Journals are essential for any successful trader. Click on the image to purchase our Trading Journals Bundle at a special price.

Last update: August 2021

The best traders keep their trades boring to live a more exciting life. Like many other new traders, I was extremely excitable in the beginning of my active trading experience. Journaling is the last thing I wanted to do on a consistent basis. It was even hard for me to log in my losses and often I skipped because I did not want to face my own mistakes and biases. 

Well, I am here to tell you if you want to be profitable consistently and implement self-improvement mechanisms to evolve and mature as a wealthy trader, you need to treat journaling as a fundamental step in your data and behavior analysis to help you succeed

There are 3 major attributes I look for in my trade journal:

  1.  Did I follow the same technical analysis chart setup and trigger with all my trades?
  2.  With the trades that failed, are there patterns of behaviors issues, technical analysis issues or biases that needs to be corrected?
  3.  Understand my win rate, profit factor and avg. trend in profit/loss with directional trades, vs. cashflow trades.

Tackle Trading offers numerous excel tracking for you to get started.

As repetitive and boring as it may be for you to trigger and log your journals, the long-term implication is that these tasks will build your temperament to be consistent. It’s really muscle memory for the brain, so no matter what happens to the market, you will just continue to be a consistent trader.

Tackle Trading Resources on Journaling

Continue learning about this powerful trading tool: the Trade Journals. Tackle Trading has all the resources you need to MASTER them like a PRO. From the Trade Journals themselves to free articles and tutorial videos on how to make the most out of them, we got you covered!

Trade Journaling for Beginners [Free Articles]

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