How To Create A Trading Journal – Log Your Trades – Options Trading TOOLS – How To Trade Options
Regardless of if you are trading options, stocks, penny stocks or even forex, a trade journal is essential to becoming a successful trader. A trade journal not only acts as a trade log recording your past trades, but also lets you record you past feelings and reasoning behind plays and journal out your approach. This is useful on many levels, as this can help you easily spot your trading strengths an weaknesses. In this video, Brendan goes over trading journals/logs and shows his log and how he uses it in conjunction with his trading.
We are putting this video out as this is something we feel is useful for every trader, regardless of skill level, beginner or expert. Everyone should utilize a trading log, and this is something most traders have definitely heard before, however it is something to easily forget when you start trading, especially if you trade often. Don’t get in the habit of not logging your trades. As you can see from this, one benefit of a trade journal, is that it slows you down and forces you to do you due diligence and stop and think about a stock before making a play.
As I said earlier, it doesn’t matter what you are trading when it comes to using a trading journal. You can log your options trades, your penny stock trades and day trades. If you are going to trade those assets at the very least you should be logging your trades.
Moral: At the end of the day, men lie, women lie, numbers don’t. That is the beauty of a trading journal.
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