Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

Don’t underestimate the power of journaling 🔥

4 Dec 2023 · 1 min

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This YouTube clip (Kardec Trader, uploaded Dec 4, 2023) argues that journaling and tracking trading data are essential to becoming a profitable trader. The speaker advises recording detailed statistics (strategy performance, best days, position sizes, time periods), keeping a pre-market game plan, and recapping every trade to note what was done well, what went wrong (e.g., selling too early), and how to improve—also diagnosing responses to winning and losing streaks to prevent recurring mistakes.

Chapters

Now I know a lot of people hate the concept of journaling when it comes to trading, but I promise you that journaling and tracking your data is one of the most crucial aspects of becoming a profitable trader. You have to have your stats. You have to know what strategies are performing well, what days do you perform well, what size you perform well, under what time periods you perform well or bad under. You have to understand what is causing you to go on losing streaks. How do you respond on losing streaks? How do you respond on winning streaks? Without that data you can't really fully maximize your trading capacity. So for me it starts off with having a proper detailed pre market game plan. It starts off with me recapping every single trade that I've taken. What I did well, what I did wrong. Maybe I sold too early. Why did I sell too early? What did I see? What did I miss? How can I improve.