Do you keep a trading notebook? | Forex Factory

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Do you keep a trading notebook?

  • #1
  • First Post: Dec 12, 2012 5:28am Dec 12, 2012 5:28am
Hi

Iam just wondering ... does any one keep notes of what he trades each day ... market reaction with news ... stuff like that ... if yes is it usefull
let the chart to be your chauffeur ... -Forexmnstr-
  • #2
  • Dec 12, 2012 8:06am Dec 12, 2012 8:06am
Do you make notes for what you study in school previously?

I think most of them make notes, to learn, re-cap, revise, etc. If you don't make notes, how do you know what you learn or learn from it are useful. Dont we always check on rear and side mirror when you drive just as how you gonna trade.
The only winner is the one who survive the longest...
  • #3
  • Dec 12, 2012 8:30am Dec 12, 2012 8:30am
I keep an excel spreadsheet where i log in my trades (long/short), setup, net pips, and any mistake made.

I also track the pip accumulation and compare it to my backtested results. If the actual performance fall between +1/-1 sigma of the hypothetical performance, then i'm happy.

If it starts to fall below -1 sigma of hypothetical results, it's time to tweak/fix the system.
NocturnalFX is no longer offering commercial services
  • #4
  • Dec 12, 2012 11:28am Dec 12, 2012 11:28am
I also keep a trade journal in Excel. Helps a lot to analyze my reasoning for entries.
  • #5
  • Dec 12, 2012 11:32am Dec 12, 2012 11:32am
Quoting forexmnstr
Hi

Iam just wondering ... does any one keep notes of what he trades each day ... market reaction with news ... stuff like that ... if yes is it usefull
Trade journal and a notebook. I'd be lost without pen and paper by my side everyday. It's not for record keeping, it's for scribbling down ideas and figuring stuff out. I've gone through tons of 'em.
  • #6
  • Dec 17, 2012 10:36pm Dec 17, 2012 10:36pm
It's useful and I make notes every time I trade. My notebook help me analyze my trading.
  • #7
  • Dec 18, 2012 4:16am Dec 18, 2012 4:16am
Quoting FXMojo
It's useful and I make notes every time I trade. My notebook help me analyze my trading.
I agree with you. Its veeeery useful! Also for me it's simplier to look at the notes for several times and analyze.
  • #8
  • Dec 18, 2012 4:54am Dec 18, 2012 4:54am
Quoting forexmnstr
Hi

Iam just wondering ... does any one keep notes of what he trades each day ... market reaction with news ... stuff like that ... if yes is it usefull

Keeping a trading journal is essential to one's trading success.

I believe every trader should keep a record of all his trades. Include information like why the trade was taken, what was the market event and sentiment at that time, how did the trade turn out, what feelings came up after the trade was closed be it a win or a loss, what lessons to learn can this trade etc.

It is journal so include all information including your personal thoughts. If you updated your journal conscientiously, you can see how you grew and mature as a trader as you recap each and every trade you had taken.
FXPRIMUS trader
  • #9
  • Dec 18, 2012 1:10pm Dec 18, 2012 1:10pm
IMHO, Probably one of the single most important decisions you'll make in trading..you must be able to work out what your doing wrong and optimise what your doing right.

https://www.myfxbook.com/?lr=http://....com/dashboard
Memories caught in time but never forgotten
  • #10
  • Dec 19, 2012 6:45am Dec 19, 2012 6:45am
Quoting forexmnstr
Hi

Iam just wondering ... does any one keep notes of what he trades each day ... market reaction with news ... stuff like that ... if yes is it usefull

See the 2nd part of this post:

http://www.forexfactory.com/showthre...96#post5320396

(also, I see you put a lot of importance into trading psychology, which is awesome since I totally agree, so check out the rest of that thread since it's my own take on the subject.)
FXGears.com
  • #11
  • Dec 19, 2012 8:10am Dec 19, 2012 8:10am
I note down everything of importance on a private blog...and I review every single trade I take to constantly figure out if I could improve something. You only learn by making mistakes, and not having a journal and reviewing trades makes it almost impossible to clearly define those mistakes (and therefore improve).
  • #12
  • Edited 5:27am Dec 20, 2012 5:11am | Edited 5:27am
Ever since I started trading I've tracked my own results in a spreadsheet.

But recently I decided to sit down and write by hand everything I absolutely knew and ahve learned about FOREX with everything from technicals, fundamentals psychology, and all in between. It was a great eway of clearing my mind from 5 years of clutter.

I now have 2 Books that I write in by hand;

1) A summary book mentioned above that I write definitive things I know to be true. The writing in this is rather neat.

2) I also started a new book for whatever random thing I think about and perhaps want to test. New ideas theories, strategy ideas. The writing in this is rather messy and the order rather random. But the idea is to arrive at conclusions from this theory book so one day I can add them to the summary book.

I've found it a good way to clear my mind.

And of course I still have my trusty Excel spreadsheet which I've added to and built from the start for live results. Keeps track of statistics, %'s, equity curve all that type of thing.
Time hides Nothing
  • #13
  • Dec 20, 2012 5:50am Dec 20, 2012 5:50am
Quoting forexmnstr
Hi

Iam just wondering ... does any one keep notes of what he trades each day ... market reaction with news ... stuff like that ... if yes is it usefull
I have a 1 foot high pile of A4 notebooks where I back tested and forward tested strategies. I have several tens of Excel spreadsheets and a journal in Excel.

I won't bore you any longer. It's all essential and my early work makes me laugh, even though some of it isn't too bad.
Gone to a better place
  • #14
  • Dec 20, 2012 5:51am Dec 20, 2012 5:51am
Quoting 4exNinja
I note down everything of importance on a private blog...and I review every single trade I take to constantly figure out if I could improve something. You only learn by making mistakes, and not having a journal and reviewing trades makes it almost impossible to clearly define those mistakes (and therefore improve).

That's a good idea. I now back up my work to Dropbox which is very good, but I never thought of a blog.
Gone to a better place
  • #15
  • Dec 29, 2012 4:13pm Dec 29, 2012 4:13pm
I use an excel sheet to track pips on a daily basis. I also use a blog on an online website that allows you to post charts and i explain why i toke the trade why my SL and TP were set in the specific prices and why the trade did or did not know work.
  • #16
  • Dec 30, 2012 3:00am Dec 30, 2012 3:00am
In the beginning I used to note down all my trades and kept copious details.
Did not help 1 bit, most certainly because this is what "successful traders" do. But what you are told to do what most "succesful traders" do is only put forward to make you lose. Once I understood that I found that what works is a lot simpler and a lot less frustrating.
  • #17
  • Dec 30, 2012 4:35am Dec 30, 2012 4:35am
any way ... my experience though ... notes :1) tells you where you were wrong ... helps you avoid it ...
2) tells you where you were right ... helps you develop on it ...

and thats it ...


*now you know your good and bad entries ...
let the chart to be your chauffeur ... -Forexmnstr-
  • #18
  • Dec 30, 2012 7:11am Dec 30, 2012 7:11am
Quoting forexmnstr
any way ... my experience though ... notes :1) tells you where you were wrong ... helps you avoid it ...
2) tells you where you were right ... helps you develop on it ...

and thats it ...


*now you know your good and bad entries ...
you nailed it.....you need to know your great winners and losers,what caused them ....you should not just focus on losers .
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #19
  • May 18, 2014 6:43pm May 18, 2014 6:43pm
I keep a notebook here on FF because I think it's a great place to store my charts and thoughts. It's all too easy to jump from method to methos, system to system, but if you arrive at one that has some merit then keeping a log of it almost forces you to give it a chance.
However I don't spreadsheet my trades, my broker's platform runs pretty comprehensive record keeping and charts my equity curve etc etc.
  • #20
  • May 21, 2014 1:39pm May 21, 2014 1:39pm
No. Actually I trade with 3 to 5 pairs and I keep up to date of those pair. It is easy for me to keep in mind all the analysis in my mind of those pairs. Generally I do not open more than one order in a single time. As my capital is so little then I do this. I do not think for mine strategy I need any notebook. What about you?
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