Last update: August 2021
≈ You have to keep score. ≈
Traders,
Whether you are paper trading to improve your skills or live trading strategies you need to keep a journal to track your overall performance.
On any given trade, you can win, lose or break even. But one trade is just that. Over time, through the accumulation of data through your trading results, you can start to see a clear picture of how your trading system is performing.
Data-driven analysis is critical in life. You do not want to make decisions based on feelings, hopes or whims. You want to make decisions about what to do based on data and information.
A trader who changes strategies without knowing why, or without a reason through the data will wander aimlessly through the markets. A trader who builds their rules, systems and trades based on historical data will improve and be more successful over time.
If you are not journaling your trades, there will be a learning curve at first to start doing so. But it is not acceptable practice to not journal your trades. It is a mandatory exercise to help you learn.
If you don’t have a trading journal, you can download one here (PRO Members only).
It is recommended that you keep a copy for your paper trades separate from your live trades. It can also be helpful to journal all your similar trades together when studying the performance of a specific strategy. For example, some traders journal all their cash flow trades in one journal and all of their directional trades in another.
Make journaling a priority, and if it is something you stopped doing, get back to it. It is a part of the daily or weekly routine a trader needs to go through to be process-oriented.
Chart of the Day: Trade Journal Example Entries
In the image above, you see a journal filled out with paper trades. As you can see, by journaling your trades over time you can start to gather more detailed information about your trading system’s overall performance. It’s important to journal your trades so that you can make decisions about what to keep, change or discard in terms of your trading strategies through analyzing data over time.
Video of the day: Tackle Trading Trade Journal
Learn how to use the Tackle Trading Trade Journal in this tutorial from Coach Tim.
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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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.
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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
Sign up now and gain unfettered access to all of the quality content and powerful Scouting Reports that our Pro Members enjoy for 15-days absolutely free with no strings attached and let us show you what your trading has been missing.
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Tackle Trading LLC (“Tackle Trading”) is providing this website and any related materials, including newsletters, blog posts, videos, social media postings and any other communications (collectively, the “Materials”) on an “as-is” basis. This means that although Tackle Trading strives to make the information accurate, thorough and current, neither Tackle Trading nor the author(s) of the Materials or the moderators guarantee or warrant the Materials or accept liability for any damage, loss or expense arising from the use of the Materials, whether based in tort, contract, or otherwise. Tackle Trading is providing the Materials for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and are not intended to represent specific trades or transactions that we have conducted. In fact, for the purpose of illustration, we may use examples that are different from or contrary to transactions we have conducted or positions we hold. Furthermore, this website and any information or training herein are not intended as a solicitation for any future relationship, business or otherwise, between the users and the moderators. No express or implied warranties are being made with respect to these services and products. By using the Materials, each user agrees to indemnify and hold Tackle Trading harmless from all losses, expenses and costs, including reasonable attorneys’ fees, arising out of or resulting from user’s use of the Materials. In no event shall Tackle Trading or the author(s) or moderators be liable for any direct, special, consequential or incidental damages arising out of or related to the Materials. If this limitation on damages is not enforceable in some states, the total amount of Tackle Trading’s liability to the user or others shall not exceed the amount paid by the user for such Materials.
All investing and trading in the securities market involves a high degree of risk. Any decisions to place trades in the financial markets, including trading in stocks, options or other financial instruments, is a personal decision that should only be made after conducting thorough independent research, including a personal risk and financial assessment, and prior consultation with the user’s investment, legal, tax and accounting advisers, to determine whether such trading or investment is appropriate for that user.
