Is trading journals worth it?

[breathlessz]

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 think the journal is very important to support the development of our trading. with the journal we can review the trading history that we have lived, especially if we make mistakes, then this must be made as neat as possible so that it is easy for us to read it. that way our trading knowledge will increase by knowing the usefulness of using journals

[Mauser]

What are your thoughts on having a trading journal to better your trading experience?

I think this is a very good idea and we all should be doing it. When it comes to trading and investing I have two ways of keeping track of my trades. The first one is an excel sheet where I write down purchase price, dates, fees and which exchange I trade on. This is very short summary and I need it to get a quick overview and to calculate taxes. All the information is stored electronically and can be accessed from my phone. The second way how I keep track of my trades is an trading journal, it's a ledger where I write in by hand using different colors. The journal for me is not so much about at what price  I am buying and selling, but rather the rational behind a trade. For me it's helpful to write down important research and what made me decide to enter a particular trade. Like that I can go back after a few months and see if it was a good trade and if my expectations where correct or wrong. Without the journal it would be too much to remember.

[dunfida]

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 think the journal is very important to support the development of our trading. with the journal we can review the trading history that we have lived, especially if we make mistakes, then this must be made as neat as possible so that it is easy for us to read it. that way our trading knowledge will increase by knowing the usefulness of using journals

Having a journal is good on where you could really be having some reference on your past trades but for me i wont really be that mindful about tallying every move that i do make.
If you do commit out some errors then it would really be that depending whether you do make out some adjustments or not or make some learning out from it.
Not all people are really good on making out some adaptation on various conditions.

If you do see that journals do really help you out then go ahead but if its not really that relevant since you do learn up on point then its also a good thing.

[Monochroic]

To grow as a trader, you need to keep track of your trades and check whether you are actually growing or not . That’s where I think trading journals come to their  best use. You can use them to analyse your trades without missing out any detail.