Hey Guys. Just wanted to make sure that everybody had the basics down when it comes to making a trading journal that can help you self police your trading.
The point of a journal isn't to keep track of your trading stats, but rather to look and see how your emotions have played a role in your trading. If you feel scared, unconfident, and fearful that a trade isn't going in your direction, and you pull out early, mark it down. If it turns out that your profitability frequently suffers as a result of your fear, then you know that the next time you feel that way to control your emotions and follow a logical, rules based trading system. Use a trading journal to control your emotions and to spot negative patterns so you can self correct.
The point of a journal isn't to keep track of your trading stats, but rather to look and see how your emotions have played a role in your trading. If you feel scared, unconfident, and fearful that a trade isn't going in your direction, and you pull out early, mark it down. If it turns out that your profitability frequently suffers as a result of your fear, then you know that the next time you feel that way to control your emotions and follow a logical, rules based trading system. Use a trading journal to control your emotions and to spot negative patterns so you can self correct.