One of the most important things you can do as a trader is to journal your trades. This short video, is to explain how to use one of our tools, the Tackle Trading Trade Journal.
At the bottom of this post, you can download the journal. It’s what we use for our team to keep score, keep records and keep track of what we’re doing.
First, enter the account value. The calculations will be done for you, at the top of the journal, as you fill out the information for the trades.
Line 1, Symbol. When you make a trade, fill the information out box by box. On the dropdown menu, choose credit if you received a credit, debit if you paid for the trade, Long stock if you bought stock, short stock if you sold stock.
Entry Date, Entry Price, Entry Size, these are all items you log for your trade entry.
Exit date, exit price, exit size, (as well as exit 2 information), allow you to log your trade exit.
As you log your trades, you’ll then get a Profit or Loss column populate on the right, the more trades you enter, the more data you have. The more data you have, the better you can identify if you’re doing a good job, or not, and then make corrections and adjustments to your trading and your system.
Keep score! Every trader needs to,
Get in the game.