Do to poor performance, I am out for a while... A shame, because I should be making a killing! Anyway, I use this time to go over my trades and formulate what the f went wrong, adjust my plan if necessary.
I thought a thread about journals, trade logs, trade plans, reviews (and so on) would be helpful to others. So let's post our ideas on how we learn from past trades!
*Here's a google doc, that acts as a platform for most of my dealings... This tab is my account value and open positions (not including day trades).
http://dl-client.getdropbox.com/u/91156/account_open.png
*Here's the watchlist (again, not for day trades) I save my watchlists by month and review them for trends / accuracy of my observations...
http://dl-client.getdropbox.com/u/91156/watch_list.png
*I print a couple of these for day trades...
http://dl-client.getdropbox.com/u/91156/print.png
*Closed day trades. Entering updates my risk mgmt / position sizing...
http://dl-client.getdropbox.com/u/91156/Closed.png
*Day's end I enter trades into an access database query (arranged for cut and paste from my broker). Here are the fields / data stored:
http://dl-client.getdropbox.com/u/91156/db_fields.png
*I can export a form of the db into PDFs for review. I also add charts in the form (they are stored in the db).
http://dl-client.getdropbox.com/u/91156/db_form.png
Things I need to improve on:
*I think the journal (and form especially) might be too expansive and redundant for day trades... Maybe that's why I suck at day trading.
*The "Method" isn't uniform enough, I'm thinking of making a key ([Strategy] 1, 2, 3), that way it will be queryable.
*Still trying to come up with a non-subjective grade format or formula. Thought about Elder's % of channel captured, but didn't really like it.
Also, I desperately need to write a Trade Plan and Review template:
*I was thinking of combining them: Plan - Review (of how well plan was executed and how well it performed).
*Plot graphs have been very helpful to me to isolate great and disastrous trades and trends.
*Performance measures: equity curve, R, accuracy, Net $, Commissions...
Anyone have an examples or advice of Trade Plans / Performance Reviews?
Do you not use records -why?
Have you found them critical -why?
How do you all do it and why?
Any advice for other traders?
-Good trading, best of luck to all.
I thought a thread about journals, trade logs, trade plans, reviews (and so on) would be helpful to others. So let's post our ideas on how we learn from past trades!
*Here's a google doc, that acts as a platform for most of my dealings... This tab is my account value and open positions (not including day trades).
http://dl-client.getdropbox.com/u/91156/account_open.png
*Here's the watchlist (again, not for day trades) I save my watchlists by month and review them for trends / accuracy of my observations...
http://dl-client.getdropbox.com/u/91156/watch_list.png
*I print a couple of these for day trades...
http://dl-client.getdropbox.com/u/91156/print.png
*Closed day trades. Entering updates my risk mgmt / position sizing...
http://dl-client.getdropbox.com/u/91156/Closed.png
*Day's end I enter trades into an access database query (arranged for cut and paste from my broker). Here are the fields / data stored:
http://dl-client.getdropbox.com/u/91156/db_fields.png
*I can export a form of the db into PDFs for review. I also add charts in the form (they are stored in the db).
http://dl-client.getdropbox.com/u/91156/db_form.png
Things I need to improve on:
*I think the journal (and form especially) might be too expansive and redundant for day trades... Maybe that's why I suck at day trading.
*The "Method" isn't uniform enough, I'm thinking of making a key ([Strategy] 1, 2, 3), that way it will be queryable.
*Still trying to come up with a non-subjective grade format or formula. Thought about Elder's % of channel captured, but didn't really like it.
Also, I desperately need to write a Trade Plan and Review template:
*I was thinking of combining them: Plan - Review (of how well plan was executed and how well it performed).
*Plot graphs have been very helpful to me to isolate great and disastrous trades and trends.
*Performance measures: equity curve, R, accuracy, Net $, Commissions...
Anyone have an examples or advice of Trade Plans / Performance Reviews?
Do you not use records -why?
Have you found them critical -why?
How do you all do it and why?
Any advice for other traders?
-Good trading, best of luck to all.
