Journal Questions

Quote from LongShot:

profiteer you sound like you don't a damn thing about puters

how do you trade without knowing squat?:eek:
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I've only been using a computer for trading less than a year. And if it wasn't for Globex, I still wouldn't be using one.

Or I should be saying, "If those young scoundrels in the pits hadn't made a mockery of everything their fathers worked for I still wouldn't be using one."
 
Quote from Breakout:



use your "Unzip" program...:)
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all right. Sometimes when I download, everything turns blue, and there is a little icon and everything is great. Other times, I'm not sure what happpens. The download goes fine, but that's the last I ever hear of anything. That's why I don't use almost every little program out there that is supposed to make things so easy.

At any rate, if I get chart posting capabilities, I will show you how I can use an ma to keep me out of bad garbage.
 

Quote from flyboy:

I am new to ET, but have not seen a good description or discussion of what constitutes a good Journal.

I would like to see what people think a Journal should consist of.

Since I hope to be trading in the next couple of months, I would like to start doing a small amount of papertrading my developing methodology, but want to make sure the items I track are usefull.

I think I need more than just the Entry/Exit and Profit/Loss information.

So my questions to this list are....

1. What should I be recording in a journal?
2. What should I be using to record my journal? (Word, Excel, live list like this, or other software?)
3. How do you evaluate your Journal?

Thanks in advance.
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Plan, Do, Check, Action (making corrective action).

This is the circle improvment framework known as Deming's PDCA.
Journal is for Check and Action phase.

So you make a journal to improve something. So ask yourself what you want to improve and record things accordingly. Checking is very long much longer and boring than plan or do phases so not many people like to do it. There is also psychological problem because they don't want to contemplate their errors. Building a website or posting on a forum for others will also force you to clear your thinking. They are drawbacks since you will fear to be wrong.

As for myself I have decided to automate entirely this Check phase so that I can concentrate on Action phase.

For the tools, I use screen capture, a tree notepad and excel.

I use forum for brainstorming and entertainment and my mailing for posting results (in past years now I don't need to prove anything any more to myself I have to improve my trading rules).

 
harrytrader,

Thanks for your reply. It makes sense.

Now I have always heard the saying:
"Plan your Trades, and Trade your Plan"

So I guess now I need to work on the Planning. Is it just my methodology(ies).

What trading plan is out there (on display on the internet) for me to use? as a starting point?

I think I have the Do part down. I have traded both through full service broker, discount broker and online. Since my current methods will be end of day, I still have all broker methods available. Will probably stick with my discount guy, as I am still learning and want a professional to review my orders before they hit the floor.

So can you or anyone else point me in the direction of good planning?

I will handle the Doing, recording in the Journal, and then have to include the Check in the plan and Action to fix my mistakes - hopefully found when checking the Journal.

Hope this is what you meant.
 
this remind me when I went to Epcot, FL it show case IBM model, it has only 3 steps - build it, test it then tweak it.
 
Mr. Subliminal,

Thanks for the posting on the Trading Plan.

Now I have lots more work to do to get a good, well defined plan written up.

nkhoi,

I think IBM should have had one additional step.... Plan it

Thanks for the posts.

:D
 
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