|
PureBytes Links
Trading Reference Links
|
Dan,
I believe firmly in a trade log/journal however, I
do not make a distinction between the 2 and have combined them into one "Trade
Log".
If one were to split hairs IMHO, a "log" is
typically a record of all trades and the details associated with those
trades. Some examples of those details might be:
1. trade date, trade id (number)
2. long or short
3. bid price, entry fill price, date entry
filled
4. initial and trailing stop prices, date stop
filled (if stopped out)
5. exit price target, exit fill price, date exit
filled
6. entry, stop and exit slippage
7. profit/loss
8. length of trade
On the other hand IMHO, a "journal" is typically a
record of market analysis details associated with those trades. Some
examples of those details might be:
1. assessment of market direction, bias,
propensity
2. analysis conclusions, opinions, assumptions,
observations
3. reasons for entering specific
trades
4. reasons for exiting specific trades
5. fundamental factors affecting the specific
market
If the "log" and/or the "journal" become to complex
we could spend all our time updating documentation instead of
trading.
IMHO, all traders should maintain a detail log of
each and every trade executed so that an after the fact analysis can be
performed to ascertain why each and every trade succeeded or failed. This
is how I learn and train myself to repeat what worked and avoid what did
not work.
Hope this helps put some perspective on this for
you.
God Bless and best wishes in all your future
endeavors,Tom
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Dan
Harels
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Friday, March 08, 2002 2:33
PM
Subject: Re: [RT] Self-Identity for
Traders
Ric wrote:>Another classic is spending an
inordinate amount of time or investing a>high value in a trading
journal.>>A 'traders log' as the name suggests is owned by the
trader, often a>'trading journal' is where the trader is owned by the
journal. A traders>log helps you get out of any hole, a
trading journal can be used to dig the>hole deeper, often using
emotions.>Ric, please explain the difference between a "log"
and a "Journal" and their appropriate application. Thoughts by
others on Journals or Logs will also be
appreciated.Thanks,Dan_________________________________________________________________Send
and receive Hotmail on your mobile device: <A
href="http://mobile.msn.com";>http://mobile.msn.comTo
unsubscribe from this group, send an email
to:realtraders-unsubscribe@xxxxxxxxxxxxxxxYour
use of Yahoo! Groups is subject to the <A
href="http://docs.yahoo.com/info/terms/";>Yahoo! Terms of Service.
Yahoo! Groups Sponsor
ADVERTISEMENT
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
|