A short YouTube video by Kardec Trader (uploaded Feb 6, 2024) arguing that journaling and tracking trading data is essential for becoming a profitable trader. The speaker emphasizes collecting statistics on strategy performance, winning/losing streak behavior, best/worst days and time periods, and position sizing to identify weaknesses and maximize trading capacity.
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.
