Trading Journal

Just wanted to encourage you traders out there who do not have a trading journal to create one. It's really important to really have a good gauge as to how well you are doing (or not). I keep my trading journal in Excel and if you're interested, I have one for regular directional option trades (BTO and STC) and for Bull Put and Bear Call Spreads. They aren't fancy, but they give good information. I could tweak them to provide graphs, as a picture is worth a thousand words, but haven't done that yet.

I also saw from a trading video and was able to recreate someone else's trading journal that does have graphs. That one is used more for futures trading.

Anyway, it's really important to learn what you're doing well in your trading and to nix the mistakes. Believe me, you can't remember everything in your head. Maybe some of the really big mistakes you can, but all those minor ones? I don't think so.

I'm working to refine my trading journal to be more efficient. My trading coach says the trading journal is a must. He said his trading really took off when he was meticulous with his journal, because his journal enabled him to learn and to adjust his trading to be highly profitable. I see no reason to reinvent the wheel and will just follow what he does.
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