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Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: sixty2nds who wrote (8608)	3/25/2006 6:46:47 PM
From: booyaka	Read Replies (1) \| Respond to of 13449

I recently read the book Come into My Trading Room by Alexander Elder. He also recommends keeping a trading journal and gives instructions on how to do it. He recommends printing out the chart for every entry and exit. You paste the chart for the entry on one page and jot down a few brief notes (e.g., why you entered the trade, how you felt about it). When you exit, you print out the chart for the exit date and paste it on the opposite (facing) page along with similar notes. It sounds like a good system to me. I plan to use it once I formulate a trading plan and get up and running.

To: sixty2nds who wrote (8608)	3/25/2006 7:11:27 PM
From: chowder	Respond to of 13449

>>> Do I go back, dig out the old trade records or start with the last series of trades? <<< I think you start fresh now. The journal should include the entry, stop loss and profit target. You should also write down the reason you entered and exited the trade. Over time, you will see patterns developing in your trading methods. You will even see where you continue to make the same mistakes. You may even see where something you believed worked, didn't work consistently enough to continue the practice. The human mind has a way of forgetting things, enabling us a state of denial. A journal will not allow that to happen. It will force you to take a good look at your trading habits, and when they are sitting right in front of you like that, it makes it easier to adjust, adapt and attack in a new direction. dabum