Is trading journals worth it?

[stomachgrowls]

It's not easy to be emotionless during trading so yes, there's a part that it will ruin your plan.
Journals. A simple spreadsheet will help with date, time, entry amount, losses, and gains. But, not all people could do that and just want to trade on spot, do what they can for a day and try to get lucky and make profits. Not lazy people, just don't want the hassle of putting everything on record.
Like for example I put in $1000, while it doesn't go below that or any further below (converted) then one may say he is doing pretty well so jotting everything down is unnecessary.

Keeping a trading journal is always a trader's choice. If you can succeed without even the need to jot down everything about your trader's gains and loss, then so be it. However, there are still lot of successful traders who always end up keeping their trading journals because it will always remind them to stick with what they are good to, and leave those strategies that seems not working. Having a record of your past trading journey will help you decide what to improve and what to leave behind as they become irrelevant to you.

Its a matter of self discovery because not all who do take note journals would really be just necessary nor being that effective towards his trades and you are the only ones who would able to find out

for yourself thats why its a matter of self preference or choice because not all would really be that willing to do so just because of some reasons neither they are really that in hassle manner or wont really
be that necessary for them to do so.
Trading does really need some certain things which would be helpful or beneficial for you and if you do find out that it is relevant then normally you would really be following it.

[darewaller]

Its a matter of self discovery because not all who do take note journals would really be just necessary nor being that effective towards his trades and you are the only ones who would able to find out

for yourself thats why its a matter of self preference or choice because not all would really be that willing to do so just because of some reasons neither they are really that in hassle manner or wont really
be that necessary for them to do so.
Trading does really need some certain things which would be helpful or beneficial for you and if you do find out that it is relevant then normally you would really be following it.

I do believe that it would allow people to learn what type of trader they are and what type of trading they should do as well. I mean you are right, it is a way that people would be allowed to learn more about how they trade, their mistakes but also their success and they will figure out what type of trader they are.

This means that they could shape the way they are trading in order to accommodate the new strategies accordingly. Like if you do X way of trading, then doing a Y way of trading would be bad for you and from the journal you could learn that you are X way of trader and you wouldn't even need to learn the Y way because of that.

[LUCKMCFLY]

Trade with emotion is one of the factors why many traders lose easily when trading. they are too hurried up, impatience, greedy, and other emotional situations that can break their exact strategy that has been managed for a long time.
The existence of a trading journal may be for the evaluation. The evaluation can be many things from, it can be from what indicator to use that cause wining or losing, the emotional management, the reasons why loss, the reasons why win, and amount to manage and others. I think that trading journal will be benefit when we really know that the journal can teach us many things, not only as a journla.

The truth is that I had never considered a trading journal, I think that just applying our strategy is enough, but to be clearer about our objectives in trading, it is something like that tool that must always be registered, not only that it remains in the Exchanges where is operated, but it would also be interesting to put it and keep it in our own records, just for the moment in which there is a failure in the operations, it can be recorded and know the exact reason under which it failed, I think it is a way to study more trading, some market speculators like Jesse Livermore always wrote everything down in a notebook, I think that's where he got his books from, those notes.

[Silberman]

It's not easy to be emotionless during trading so yes, there's a part that it will ruin your plan.
Journals. A simple spreadsheet will help with date, time, entry amount, losses, and gains. But, not all people could do that and just want to trade on spot, do what they can for a day and try to get lucky and make profits. Not lazy people, just don't want the hassle of putting everything on record.
Like for example I put in $1000, while it doesn't go below that or any further below (converted) then one may say he is doing pretty well so jotting everything down is unnecessary.

Keeping a trading journal is always a trader's choice. If you can succeed without even the need to jot down everything about your trader's gains and loss, then so be it. However, there are still lot of successful traders who always end up keeping their trading journals because it will always remind them to stick with what they are good to, and leave those strategies that seems not working. Having a record of your past trading journey will help you decide what to improve and what to leave behind as they become irrelevant to you.

While you can become a successful trader without using a trading journal I still think it is a very useful tool, after all there are trading systems that depend very heavily on the instincts of the trader, however we know that as you gain more experience those instincts will become even more refined, which means that what you saw back then will be completely different than what you could see in a few years down the line, so it is important to keep detailed records so you can read what is what you saw when you made that trade so you can compare it to what you can see right now and see how much you have improved over the years.

[Viscore]

Putting these activities down in a journal does it helps a trader to make a better decision?

A trading journal can't always help a trader to make better decisions,but it can actually stop the trader from making bad decisions.Making less bad decisions and less mistakes,rather than focusing on perfection(good decisions) is definitely a form of self-improvement.Nobody is perfect.
I've heard stories about Harvard students being required to maintain a journal.
Maintaining a journal can help you become more disciplined and discipline is a really important skill,when it comes to trading.Actually,it's not just trading.Having discipline and consistency is the key of success in every aspect of life.

Having a trading journal is not a guarantee that you will never lose anymore. Losses are always inevitable but it will help you minimize your losses through using your journal as its very effective on assessing your trading performance. Focus more on the things that creates progress on your trading performance and stay away on the things that keeps you repeating your mistakes. Later on, you will realize that keeping a trading journal is worth it because you are already seeing consistency in making profits in trading.

[Shasha80]

Putting these activities down in a journal does it helps a trader to make a better decision?

A trading journal can't always help a trader to make better decisions,but it can actually stop the trader from making bad decisions.Making less bad decisions and less mistakes,rather than focusing on perfection(good decisions) is definitely a form of self-improvement.Nobody is perfect.
I've heard stories about Harvard students being required to maintain a journal.
Maintaining a journal can help you become more disciplined and discipline is a really important skill,when it comes to trading.Actually,it's not just trading.Having discipline and consistency is the key of success in every aspect of life.

Having a trading journal is not a guarantee that you will never lose anymore. Losses are always inevitable but it will help you minimize your losses through using your journal as its very effective on assessing your trading performance. Focus more on the things that creates progress on your trading performance and stay away on the things that keeps you repeating your mistakes. Later on, you will realize that keeping a trading journal is worth it because you are already seeing consistency in making profits in trading.

The trading journal is only a tool so that we can minimize the losses we experience, not to avoid losses. Because all traders must experience losses
and that is something that cannot be avoided. Moreover, crypto trading has a very high risk, so we will experience losses regularly. Actually,
it doesn't matter if we experience losses, the most important thing is that the profits we make are much greater than the losses we experience.
This can be realized with the help of a trading journal, which by recording all our trading activities in a journal, will realize every mistake we do.
So our trading performance will continue to improve for the better, because with the help of a trading journal we can correct the mistakes we made,
and also we can assess how effective the trading strategy we use is. We must try to make a trading journal to be able to feel the benefits of
the trading journal.

[nhaila]

I came across an article a few days ago. But, I can't trace it back to share the link here with you. But, some points that I can recollect from that article are as follows.

People trade with their emotions: they have an initial specific amount to trade but, getting on to the exchange they change their mind and trade higher amounts which results in big losses.

So under the article, I could remember points like writing down every action you've made while trading. Stuff like, I lost xx amount of money today, made x amount of profits today.

Putting these activities down in a journal does it helps a trader to make a better decision? Because I know of many people that are in control of their actions. They got these activities recorded on their brain. Regarding it's related to funds or assets. They may not forget a single activity immediately unless in the future. And it's one reason I can say that a journal is good for remembrance only. What are your thoughts on having a trading journal to better your trading experience?

I just read whole article about trading, but I can say trading is the critical process where should have no emotional support because if you trading with emotions and feeling then you should face a huge amounts of losses instead of profits. So don't trade with your emotions. 

[Qikiye]

Trading journals just an instruction books or a pages of instructions where you can earn knowledge about how can reduce or minimise trading losses. But I think before getting introduction with trading, one should gather information about trading from differents trading journals.

[Oceat]

Trading journals just an instruction books or a pages of instructions where you can earn knowledge about how can reduce or minimise trading losses. But I think before getting introduction with trading, one should gather information about trading from differents trading journals.

Yes, I agree and also one should apply it in actual trading not just reading with it because you will never know how effective or what is effective or the best trading strategy for you. Even if you know how to do it you should still write it on your journal for future reference since you'll never know when you will stop or teach someone in the future.

Of course, if you want to learn about the trading you just read you should apply it in actual trading that's why reading for me is not enough. Since not everyone could do it even if they read it already so it's best to find your best trading strategy.

[Prosector]

Yes, a trading journal is worth it because it helps you pre-plan your goals ahead. You can also compare your latest trades with the past ones to keep track of your growth, which motivates traders to move ahead.

[TimeTeller]

Trading journals just an instruction books or a pages of instructions where you can earn knowledge about how can reduce or minimise trading losses. But I think before getting introduction with trading, one should gather information about trading from differents trading journals.

Yes, I agree and also one should apply it in actual trading not just reading with it because you will never know how effective or what is effective or the best trading strategy for you. Even if you know how to do it you should still write it on your journal for future reference since you'll never know when you will stop or teach someone in the future.

Of course, if you want to learn about the trading you just read you should apply it in actual trading that's why reading for me is not enough. Since not everyone could do it even if they read it already so it's best to find your best trading strategy.

And most of the time, there are different factors in play in every situation.
This is why some outcome will deviate from each other depending on the factors involved.
As you can read those tons of information, I do agree that actual execution is still different.
So if you are just starting, start small where you think you can accept your losses.
But it doesn't mean that your journey will stop from those losses but just a start to learn more things about this market.

[milewilda]

Yes, a trading journal is worth it because it helps you pre-plan your goals ahead. You can also compare your latest trades with the past ones to keep track of your growth, which motivates traders to move ahead.

Not all people would really be putting much effort specially on seeking their past patterns since we know that this market isnt something that could really be having that permanent kind of behavior
in terms of its movement where you could really make out some specific patterns which is some thing that cant really be possible thats why on my part it isnt really that necessary on having
journals or tending to look every now and then about your trading patterns and analysis in the past.Its better to make out some immediate action or position according on what you
are really that learning along the way.You wont really be bothering yourself into this point.

[Gosgosking]

Trading journals helps alot it serves as a guide,  most trading journals contains what trader needs to know to be successful like risk management,  consistency. It gives every necessary information concerning trading for beginners.

[Nrcewker]

So under the article, I could remember points like writing down every action you've made while trading. Stuff like, I lost xx amount of money today, made x amount of profits today.

Putting these activities down in a journal does it helps a trader to make a better decision?

This complete depends upon the person who is trading and yes it may varies.
If you are someone who is dedicated enough to trading and want to track down each of your trades , then yes this might help.
Now if you are a person who has enough money and doesn't really care about small trades etc. where you lost a little, then you might not find it helpful.
If you ask my suggestion, then I would suggest- writing down it in a journal will surely help.
It will help to track down your trades, when you made losses, and what you can do in future to avoid  losses during trades.
Willing to hear other people's opinions on this.

[Lanatsa]

Yes, a trading journal is worth it because it helps you pre-plan your goals ahead. You can also compare your latest trades with the past ones to keep track of your growth, which motivates traders to move ahead.

Not all people would really be putting much effort specially on seeking their past patterns since we know that this market isnt something that could really be having that permanent kind of behavior
in terms of its movement where you could really make out some specific patterns which is some thing that cant really be possible thats why on my part it isnt really that necessary on having
journals or tending to look every now and then about your trading patterns and analysis in the past.Its better to make out some immediate action or position according on what you
are really that learning along the way.You wont really be bothering yourself into this point.

Agree on this one on which you can't really be sure if it would be happening again or not but after a long time of doing trading and if you are someone who do really make out some tallies or records in all of your trading

activity then you would really be able to spot out some similar cases or events which its not bad to presume that history might repeat itself because results or outcomes could neither be inligning with your analysis
or totally going opposite on what you had predicted.If you do see that journals are good and beneficial for your part then go ahead.Its your money to invest not theirs so better do on things which
you do seem that would really be beneficial for you.

[awik p]

I came across an article a few days ago. But, I can't trace it back to share the link here with you. But, some points that I can recollect from that article are as follows.

People trade with their emotions: they have an initial specific amount to trade but, getting on to the exchange they change their mind and trade higher amounts which results in big losses.

So under the article, I could remember points like writing down every action you've made while trading. Stuff like, I lost xx amount of money today, made x amount of profits today.

Putting these activities down in a journal does it helps a trader to make a better decision? Because I know of many people that are in control of their actions. They got these activities recorded on their brain. Regarding it's related to funds or assets. They may not forget a single activity immediately unless in the future. And it's one reason I can say that a journal is good for remembrance only. What are your thoughts on having a trading journal to better your trading experience?

different from me, keeping a journal is very important, apart from what we do open transactions, and the end result, in the journal I usually complete with a description of each transaction, this is useful for helping the formation of stable emotions, for me by looking at the previous journal, I will remember the mistakes that have been made and how to overcome them, so that in the future we can analyze the development of our trading, this is not a matter of profit and loss, but forming a healthy trading system

[MinMan]

different from me, keeping a journal is very important, apart from what we do open transactions, and the end result, in the journal I usually complete with a description of each transaction, this is useful for helping the formation of stable emotions, for me by looking at the previous journal, I will remember the mistakes that have been made and how to overcome them, so that in the future we can analyze the development of our trading, this is not a matter of profit and loss, but forming a healthy trading system

Yeah, the importance of keeping a trading journal can’t be highlighted enough, and we have talked about it times and times again. However, due to the abundance of available solutions on the market, it is often hard for many traders to find the one best tailored to their needs. When we get journals for trading, it will help us in keeping records that we can go back to at anytime and be able to learn about our trades and be able to tell what decisions we made and correct ourselves.

[Captain Corporate]

Keeping it noted would allow you to check up on it whenever you have a chance to go back and check what went wrong, this can't be really that hard to do, you are not giving up on anything. This is why there is no "worth it" question to ask about it. I mean if something is "worth it" level, that means you need to be giving up something in return, and if you are not doing that then I do not know what to say about it, because its free and you do gain something from it and even if you do not then you are not spending anything anyway so why would it be a risky business? Hence, it is definitely "worth" it, and it will improve you.

[Emitdama]

Truth be told, keeping a trading journal is hard but it is a very worth it to keep our own one .

A trading journal helps traders track their trades and thoughts throughout the day. It’s a great tool, because a thorough journal includes details beyond what you can see on your brokerage statement. It includes what market conditions were like and whether you were distracted or made mistakes.

You may wonder why it is necessary to keep a separate trading journal since just about every broker provides a real-time record of your trades. In fact, one could argue that the broker’s record also keeps track of available buying power, margin usage, and profit and losses for each trade made.

[sklopan]

I am a supporter of the idea that for beginners this is a great option. You can really learn from the experience of other people, and this helps a lot.