Last update: August 2021
~ Are you making money? ~
This is Part 3 of the series “Organization is Key”, where we’ll be talking about the Trading Journal.
Access the entire 3-part series on Trading Business:
- Organization is Key Part 1 – Trading Business
- Organization is Key Part 2 – Business routine
- Organization is Key Part 3 – Trading Journal
A Trading Journal is not something superfluous. It is crucial. It is where you’ll log, break and analyze all your data so you can see if your system’s making money over time, which, should be your ultimate goal as a trader.
This is the bare minimum amount of data we suggest you keep track of:
- Entry and exit date;
- Entry and exit price;
- Total amount invested;
- Credit received/Amount paid;
- Margin held/Max loss;
- Profits/Losses;
- ROI;
- Equity Curve chart (Profits/Losses vs. Time).
No need for fancy spreadsheets. The few shared by the coaches are a wonderful starting point. Take the one you most identify yourself with and input your data. Develop something you’re comfortable using every day. Get rid of the bottlenecks and continue with the same solution. You may go through this cycle a couple of times.
Don’t be timid in creating custom solutions when needed. Everything you do aiming organization, efficiency, and tranquility in your business, is a valid effort.
Suddenly you will notice you are not tweaking the spreadsheets that much. At a certain point, your routine will feel like a car gliding on a fast lane on fifth gear: smooth.
Chart of the Day: Portfolio Design – Current vs. Ideal Allocation
Keep it simple: one of the first things you can do as a trader is designing your portfolio. Group the strategies you feel most confident in trading and define the ideal capital allocation for each one. The chart above—a fictitious example—compares the current capital allocation against the ideal one inside the four major groups of strategies for that particular trader. This is a simple chart you can easily develop from the spreadsheets made available by the Coaches at Tackle Trading.
Video of the day: Tackle Trading Trade Journal
Coach Tim walks you through the importance and how to use the Tackle Trading Trade Journal.
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]
How to use the Theta Research Tool to find the best stocks for Cash Flow
In this video tutorial, Coach Matt goes through the latest edition of the Options Research Spreadsheet explaining how to use it to find the best stocks to cash flow.
How to use the Theta Research Journal to find cashflow candidates
In this video tutorial, Coach Tim teaches how to find the best candidates to trade cash flow options strategies using Tackle Trading’s Theta Research Journal.
Tales of a Technician: Journals, Systems and Discretion
Once upon a time I didn’t use a trade journal. Then I got smart.
Trade Journal Series: How to use the Theta Research to find Covered Call candidates
In this video tutorial, Coach Tim Justice teaches how to find the best candidates to trade the Covered Call options strategy using the Theta Research tool.
Trade Journal Series: How to use the Trade Journal
In this video tutorial, Coach Tim Justice will teach you how to use a powerful trading tool: the Trade Journal.
The Day I Discovered the Wheel: Backtesting
For all of you, who just like me, felt insecure about a certain strategy, and how to apply it, I have one thing to tell you: BACKTESTING!
Tackle Today: Organization is Key Part 1 – Trading Business
You might’ve asked yourself at a certain point: “How should I start to make this trading activity a business?”
Tackle Today: Organization is Key Part 3 – Trading Journal
A Trading Journal is not something superfluous. It is crucial. Continue reading.
Notes from a Newbie: The Trade Journal is your friend
The trade journal is your friend, use it!
Options Theory: Size Matters
Do you have consistent position sizing and are you tracking your trade stats? If not, then here’s your invitation to start.
Friday Feature: Habits of a Wealthy Trader – Part 2: Journal Your Trades
You need to treat journaling as a fundamental step in your data and behavior analysis to help you succeed.
Tackle Today: Organization is Key Part 2 – Business routine
Like any other business out there, your trading business must have a routine. Continue reading.
Women in Trading – Journaling
Journaling: I know based on my own experience that it is the most dreaded topic when it comes to trading, yet it is an important part of a trader’s journey.
Financial freedom is a journey
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