Journalling

[Obiwankenodium]

Hi all,

The most boring thing to do in trading is keeping a journal. But it will give you lots of insights about your strikerate, expectancy and how to improve your trading.

Do you journal? And if not why not? If you do, what did you learn from it and did it help yiu in your trading?

I just started, never did actually. I try to keep track of different setups, entry, stoploss and exit, RR, max drawdown and what happened after the trade (or why my setup did not work out).

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[butka]

I have to admit that I'm not journalling, although I should. Keeping a journal is currently pretty low on my to-do list, so I'm constantly postponing it.

I'm aware, though, that experienced traders swear by it. Among the other things, journalling may help develop intuition and pattern recognition.

Probably this means that I'm just a beginner in trading, which in fact I am.

[alisafidel58]

I don't do journaling as I dot see a pattern that is needed to be followed or keep track of my trades. Reading the past trade and trying to incorporate the same situation in the last few years is not viable in cryptocurrency trading.

[gantez]

It depends on the level of journaling you mean. As a starter, you can write something's down in a book to help your remember, like some calculations etc. but not consuming your time with just writing.

Journalling indicates that you are serious in what you are doing.

[Obiwankenodium]

Journalling helps me to review the trades i have done. When writing it all down i sometimes already see what i could improve or should have done differently.
In the end i hope to have mote detailed information about what setup actually earns me the most money.

[carter34]

I use to journal in the past but not anymore because I seem to be seeing it as much of time taking. I actually do that when it is highly important and not just everything like I'm making a writing for publishing a book.

[harizen]

I just started, never did actually. I try to keep track of different setups, entry, stoploss and exit, RR, max drawdown and what happened after the trade (or why my setup did not work out).

You just think it didn't work out but you are currently on the progress. Why assumed early? Just try to move forward with your set of strategy until you reached your goal. Trading is not as easy as 1,2,3 so definitely even how wonderful our strategy is, even we applied that sort of journal thing you have mentioned, we can't see the result in just a short period of time.

My suggestion is to just continue. Building trading experience is they key to improved your trading.

Goodluck.

[The Sceptical Chymist]

I'm not really into trading a lot, though I've definitely done it, but I can attest to the benefits of journalling in general.  I've kept journals of thoughts and stuff since about 1993--and I still have everything I've written in my bookshelf.  A lot of times it's hard to think back and remember what you were thinking or feeling about life, work, whatever years down the road.  When you write it down, it is a fantastic memory aid.  Most of my journalling was done with pen and paper, but I've also done it on computer and printed it out.  I much prefer using pens, as I can almost sense what mood I was in by changes in my handwriting.

For the trader, I imagine it would be a huge benefit--very much like a lab scientist keeping a notebook of experiments.  Don't know if they still do that, but it was pretty important back when I was in school.  Great topic.

[nydiacaskey01]

Hi all,

The most boring thing to do in trading is keeping a journal. But it will give you lots of insights about your strikerate, expectancy and how to improve your trading.

Do you journal? And if not why not? If you do, what did you learn from it and did it help yiu in your trading?

I just started, never did actually. I try to keep track of different setups, entry, stoploss and exit, RR, max drawdown and what happened after the trade (or why my setup did not work out).

I tried to do this when I was new in trading, I still have my journal with me but I don't use it anymore. Instead of writing down my entries and exits, I wrote them in excel file so that it will be easy for me to look for the history of my trades and on which platform. If you are into long term or holding your coin for a long period of time, I don't think journalling is needed.

[Supercrypt]

It is not a bad idea to do so mate, but I think to me, it is merely a waste of time.
Since, I already have the tools keeping track of my trade for me on the trading platform which I can pick at any time to check any event that occurred at the particular time I chose.

Moreover, for the fact that we are trading crypto and the market is still very volatile, it will really be difficult to use your past experience to work on the future, if it was forex trading, this would have been easy to use the journal as a reminder of a step that I took that let me to a particular event.

[enhu]

I don't even track my trade, its like trying to win as much trade as possible while not actually seeing how much profit I got. But this is probably because we're also busy reading news every day about crypto trying to gasp what are the best things to happen soon and doing bounties.

It is not a bad idea to do so mate, but I think to me, it is merely a waste of time.
Since, I already have the tools keeping track of my trade for me on the trading platform which I can pick at any time to check any event that occurred at the particular time I chose.

Moreover, for the fact that we are trading crypto and the market is still very volatile, it will really be difficult to use your past experience to work on the future, if it was forex trading, this would have been easy to use the journal as a reminder of a step that I took that let me to a particular event.

Nope even if its forex market I wouldn't track them but I would if I do it in binary trading. This after all will have a good rate to show I can predict the market in a minute time frame.

[Jating]

For beginners, it's really important to really put everything in writing so that you can go back and see what went wrong and as early as today you can fixed your mistakes. I'm also a lot of journaling myself. I learn it when I went to start my journey on lifting weights. I write everything, the time I went to the gym, how heavy, what I feel that day, almost everything.

And when I have battles with diabetes as well, I write what I eat that day, how much calories and of course my blood sugar. So there's a lot of ways you can involved journaling in your daily life not just in crypto but it has the same results, it can really improved a lot of things and makes you a better person/trader.

[Kiweikoo]

I don't really see any reason of keeping journal why trading even if it's a good idea, I don't really care what happen once I am making my profit because this is the crypto market and I don't think I have to follow any rules and regulation before I can make my profit, so even though it's a very good idea and I commend you for bringing it up, but I don't think I am ready to keep journal now of my trading activities, though I might can't my mind in the future if I see that the need be.