I’ve heard a few traders talk about how they monitor and track their trades, like on a spreadsheet. But I have also heard some others talk about how they actually write down their feeling about trades, why they decided to take the trade, and what the price action was doing at different times.
Thought it would be a good idea to bring up. Let me know!
This is a great topic to discuss. I like to write about my trades. Although I don’t really consider it a trading journal/diary. I use a spreadsheet and leave space for notes.
What I like about this process is that it lets me think aloud. It’s kind of like when a friend asks you for help, but they do all the talking and figure it out themselves. The process is pretty simple, I list what I like and what I don’t like. If there is an obvious choice then I go with it. If for some reason it looks like it can go either way, I set a requirement.
Example for a sell order:
If the day candle closes bearish, I will stay in the trade.
If the day candle closes bullish, I will close the trade and cut my losses.
Thank you for your feedback. I just started with this, even created a template to add the picture from the chart widget. I’m glad I did too because I am building a position on NZDUSD right now. Definitely a trade I want to remember the progression on.