4 EXTRAS to add to your Trading Journal TODAY
I’m sure you know by now.
That every successful trader needs a trading journal.
This is an essential tool to track, monitor, evaluate, record, and measure your trading success.
However, I’ve come up with 4 EXTRA Journal Items that you can add to your journal that could help improve your trading, win rate and overall performance.
We can call these the “Trading Journal Extras.”
Let me know if you think any of these will be helpful to add to your journal.
EXTRA Journal Item #1: MY EMOTIONS
Emotional State When Taking Trades
Trading can be an emotional rollercoaster.
When you lose, it feels like everything is out to get you.
When you win, it can feel like you’ve nailed life in a bag and you can do this for the rest of your life.
But what if you actually journaled your emotions?
Every time you take a trade or you bank a loss or gain, document it in a section saying “EMOTIONS.
This element to your Trading Journal can help you identify patterns in your emotional state that may impact your decision-making abilities in the future.
You will also see who you are personally and how you emotionally handle trades. Watch it improve over time.
For instance, if you find that you’re more likely to make impulsive trades when you’re feeling anxious or stressed, you can take steps to manage your emotions before taking trades.
This can help you make better decisions and minimize the risks of impulsive trades.
EXTRA Journal Item #2: MISTAKES LEARNED
Mistakes Made and Lessons Learned
As a trader, you’re bound to make mistakes, and it’s essential to learn from them.
So why not write them down. Incorporate the mistakes you made in your Trading Journal.
This way, it can help you avoid making the same errors in the future.
For example, if you realize that you lost way more than 2% for a trade.
Write down where you went wrong.
Did you over capitalise?
Did you extend your stop loss?
Did you hold on longer than you should (which the costs added up)?
Did you follow your strategy and risk management rules?
Write down the mistake and you’ll have a better chance of avoiding it in the future.
EXTRA Journal Item #3: NEWS REACTION
Market Reaction to News Events
You won’t find this in my journal. But I know many traders who trade using market fundamentals and news analyses.
And if you’re a day trader, Forex trader or a high frequency trader – then this item might be imperative to your trading journal.
The market’s reaction to news events can cause major whipsaws, fakeouts and shakeouts.
You might find it interesting and educational track how the market behaves before and after a news release.
E.g. NFP (Non Farm Payrolls).
Unemployment numbers
Interest and Inflation rates announcements
Quantitative Easing
Earnings Reports and so on…
For instance, if you notice that the market reacts positively to news about a particular sector or asset, you can make an informed decision to invest in that asset or sector.
Similarly, if you notice a trend of negative market reactions to news events, you can use that information to minimize your losses.
EXTRA Journal Item #3: TRADING LESSON
Trading Lessons and Strategies
Finally, as a trader, you must keep learning and growing.
If you learnt something about trading, WRITE it down in a journal entry.
Adding a section in your Trading Journal called LESSON OF THE DAY.
Then record the trading lesson/s and strategies you learnt which can jog back your member and it can help you improve your skills, application and knowledge.
The FOUR extra Trading Journal Entries
A Trading Journal with these EXTRA items can help you excel as a trader.
Thins like emotional state to identify patterns, writing down mistakes to avoid repeating them, tracking market reactions to news events to inform decisions, and recording trading lessons and strategies to continuously learn and improve.
So here’s a sum up of the FOUR EXTRAS that you can apply to your journal.
MY EMOTIONS
Document emotions every time you take a trade or bank a loss/gain
MISTAKES LEARNED
Write down mistakes made and where you went wrong in your Trading Journal
NEWS REACTION
Track the market’s behaviour before and after news releases
TRADING LESSON
Record lessons and strategies learnt that will help with your trading
Let me know if this helps and which out of the FOUR you’ll add to your trading journal?
That every successful trader needs a trading journal.
This is an essential tool to track, monitor, evaluate, record, and measure your trading success.
However, I’ve come up with 4 EXTRA Journal Items that you can add to your journal that could help improve your trading, win rate and overall performance.
We can call these the “Trading Journal Extras.”
Let me know if you think any of these will be helpful to add to your journal.
EXTRA Journal Item #1: MY EMOTIONS
Emotional State When Taking Trades
Trading can be an emotional rollercoaster.
When you lose, it feels like everything is out to get you.
When you win, it can feel like you’ve nailed life in a bag and you can do this for the rest of your life.
But what if you actually journaled your emotions?
Every time you take a trade or you bank a loss or gain, document it in a section saying “EMOTIONS.
This element to your Trading Journal can help you identify patterns in your emotional state that may impact your decision-making abilities in the future.
You will also see who you are personally and how you emotionally handle trades. Watch it improve over time.
For instance, if you find that you’re more likely to make impulsive trades when you’re feeling anxious or stressed, you can take steps to manage your emotions before taking trades.
This can help you make better decisions and minimize the risks of impulsive trades.
EXTRA Journal Item #2: MISTAKES LEARNED
Mistakes Made and Lessons Learned
As a trader, you’re bound to make mistakes, and it’s essential to learn from them.
So why not write them down. Incorporate the mistakes you made in your Trading Journal.
This way, it can help you avoid making the same errors in the future.
For example, if you realize that you lost way more than 2% for a trade.
Write down where you went wrong.
Did you over capitalise?
Did you extend your stop loss?
Did you hold on longer than you should (which the costs added up)?
Did you follow your strategy and risk management rules?
Write down the mistake and you’ll have a better chance of avoiding it in the future.
EXTRA Journal Item #3: NEWS REACTION
Market Reaction to News Events
You won’t find this in my journal. But I know many traders who trade using market fundamentals and news analyses.
And if you’re a day trader, Forex trader or a high frequency trader – then this item might be imperative to your trading journal.
The market’s reaction to news events can cause major whipsaws, fakeouts and shakeouts.
You might find it interesting and educational track how the market behaves before and after a news release.
E.g. NFP (Non Farm Payrolls).
Unemployment numbers
Interest and Inflation rates announcements
Quantitative Easing
Earnings Reports and so on…
For instance, if you notice that the market reacts positively to news about a particular sector or asset, you can make an informed decision to invest in that asset or sector.
Similarly, if you notice a trend of negative market reactions to news events, you can use that information to minimize your losses.
EXTRA Journal Item #3: TRADING LESSON
Trading Lessons and Strategies
Finally, as a trader, you must keep learning and growing.
If you learnt something about trading, WRITE it down in a journal entry.
Adding a section in your Trading Journal called LESSON OF THE DAY.
Then record the trading lesson/s and strategies you learnt which can jog back your member and it can help you improve your skills, application and knowledge.
The FOUR extra Trading Journal Entries
A Trading Journal with these EXTRA items can help you excel as a trader.
Thins like emotional state to identify patterns, writing down mistakes to avoid repeating them, tracking market reactions to news events to inform decisions, and recording trading lessons and strategies to continuously learn and improve.
So here’s a sum up of the FOUR EXTRAS that you can apply to your journal.
MY EMOTIONS
Document emotions every time you take a trade or bank a loss/gain
MISTAKES LEARNED
Write down mistakes made and where you went wrong in your Trading Journal
NEWS REACTION
Track the market’s behaviour before and after news releases
TRADING LESSON
Record lessons and strategies learnt that will help with your trading
Let me know if this helps and which out of the FOUR you’ll add to your trading journal?
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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