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Using a Journal to unlock your own secrets

Saturday, 20 June 2009 09:55

I have written many blogs about using a journal and if you are new to daytradewell.com and have not looked back through my old blogs, you may have missed them. I find that using a journal is a very useful and simple tool to help you figure out mistakes you make and help you to accentuate what you do well.

I do not journal about every trade I make, I will choose a few good trades and a few that did not work out so well. I also think it is important for you to learn if there are times of the day you trade better, certain stocks that fit your style or maybe you want to try adding something to your methodology. Write these things down and more importantly review your journals for these patterns.

On Saturday mornings, I review my past weeks journals and then I look back over the past month to see what I can learn. Evernything I blog about is something I have learned from my journals, from stocks I like to trade, to when I trade and psychological tips. Even starting this website and mentoring traders was something I wrote about in a journal years ago as something that I wanted to do.

If you never have done any journaling, I would start immediately even if you are just jotting down some notes. Start writing and you will be amazed at what might come from it. Since it is 6 am Saturday morning, I am off to review my last week.