Trading Diaries

themickey

themickey

Does anyone keep a trading diary on their day to day thoughts, ideas and activities?
If so; is it strongly beneficial to you, if so, how so?
Do you keep a diary in hardform or do you use software?
If software, what would you suggest would be ideally suitable?
Do you find it is it hard work continually updating a diary or does it come quite easily?
 
Each week I record each trade, and write notes on the trade. I review the document the following week.

Just writing and recording the information, that helps solidify and keep me honest with following my system. I note mistakes etc that are not part of the plan.

I don't make it all that complex.
 
I note down entries and trade plan. It got to the point where I would get so many positions on, I'd have to look back at the charts and my purchase date to figure out what the heck my trade plan was. No I don't really have any ceiling to how many positions I can put on. But once the trade is complete, I delete my notes

I title all my entries first by 'suspense' date (i.e. "09/13-"...always leading 0 for sorting) on which the position needs to be handled on or before, and show target price and stop price/condition, and important S/R. Then I handle them as such: anything titled like "!09/13-" with leading ! is sorted to the top and handled first thing, before open. Then I go through and look for my key price levels on all symbols and handle any that hit that level (any of these first two, I keep tabs on all day or until something actionalbe comes up). Finally I go through anything else for today's date and review each position. I'll have a narrative section that describes key levels and what to watch out for / take profit on. As I go through my notes, I update them. At end of week (sometimes end of day if it's a busy one), I change the sort by symbol to match up with my account and go through each position and each note, updating any as needed.

That just makes it all really mechanical for my trades, and I just know what strikes / expiry I should be on to best exploit my intended trade. Anything that I exit, I have a purely objective plan laid out for me which stops me from analyzing the trade under the cloud of "maybe it could reverse and fix itself" or "maybe this spike will keep spiking".
 
themickey said:
Does anyone keep a trading diary on their day to day thoughts, ideas and activities?
If so; is it strongly beneficial to you, if so, how so?
Do you keep a diary in hardform or do you use software?
If software, what would you suggest would be ideally suitable?
Do you find it is it hard work continually updating a diary or does it come quite easily?
More...

I have a trading journal which is also, a spread sheet. I note the reason I got into the trade. Then, I add notes when I close the trade and I made mistakes or did things right. After a while, you see a pattern of good and bad habits. Then, you can correct the bad habits and reinforce the good habits. I usually, review the trades on the weekends when I have a lot more time.
 
smallfil said:
I have a trading journal which is also, a spread sheet. I note the reason I got into the trade. Then, I add notes when I close the trade and I made mistakes or did things right. After a while, you see a pattern of good and bad habits. Then, you can correct the bad habits and reinforce the good habits. I usually, review the trades on the weekends when I have a lot more time.
More...
I agree I have been doing this for some time and it is really helpful for noting down the patterns of your trading habits and you can change them if necessary. I also use it to vent out my emotional feelings related to trading. It is sort of therapeutic this way
 
Anyone have any comments or experience on any of the following software for using as a diary?
This from the ET Resource section, Trade logging and analysis:
https://www.elitetrader.com/et/resources/categories/trade-logging-analysis.10/

TradeBench: An online trading journal that includes trade planning and money management.

Trading Dive: Modern and Responsive Trading Journal

JournalSqrd: JournalSqrd is a Customizable Analytics and Reporting Platform For Traders.

TradingDiary Pro: A trading diary that helps you develop a wining strategy and control your performance.

Tradervue: An online trading journal and analytics platform to help you understand and analyze your trading.

Edgewonk: A trading journal for traders of Stocks, Futures, Forex, Spreadbetting and CFDs.

Trademetria: Trading journal and reporting for active traders, investors and brokers.
 
I have found very beneficial so far. I have a tendency to be a very introspective person so usually I'm aware of what I do well and what I dont. But having these programs show it to me makes me not only have the logical understand but also the emotional leverage that I need to try to change. The charts, the stats, the ratios, they all provided proof that what I suspected about my trading was correct and now I'm more motivated than ever to improve that.

I like TraderVue in particular because it was very easy to import trades from IB and from propreports. I have/had 3 accounts with a broker that uses propreports, it was nice to be able to import all of those trades in less than 30 min. If I had to do it by hand I would just procastinate forever
 
I'd be inclined toward a software diary, that way it can easily be edited and if it were on the cloud easily accessable from any one of my computers or tablets or even mobile phone.
The diary could also incorporate a trading plan and web links etc.
Would be a good idea having a diary the more I think about it, might be able to have most personal trading correspondence in the one place then, rather than notes here & there.
Anyone have any further suggestions on the benefits of any particular software diaries?
 
smallfil said:
I have a trading journal which is also, a spread sheet. I note the reason I got into the trade. Then, I add notes when I close the trade and I made mistakes or did things right. After a while, you see a pattern of good and bad habits. Then, you can correct the bad habits and reinforce the good habits. I usually, review the trades on the weekends when I have a lot more time.
More...
With a spreadsheet, is it possible with an sheet open, to have a hyperlink menu which you can click on one of the menu items which will immediately take you (scroll down) to the cell?
Also, can one imbed pictures/screen shots into a spreadsheet?
I'm a bit concerned though with a spreadsheet diary, that it will become too large and then become buggy. My experience with spreadsheets, after a while after saving on multiple occassions and when they get very large, they begin to freeze up.
 
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