How to Journal Trades

Introduction

• Importance of journaling trades.
• Monitor performance and areas for improvement.
• Analogy: Similar to analyzing social media analytics.
• Apologies for any interruptions due to active trading.

Essential Components of a Trade Journal

1. Trading Pair

   • Focus on one pair to master it before expanding.
   • Simplify your watch list; keep only one pair.
   • Write down the traded pair (e.g., S&P, GJ, Gold).

2. Trading Session

   • Note the session: New York, London, or Asian.
   • Preference for New York and London due to volatility and volume.

3. Confluences

   • Document reasons for entering a trade:
     • Liquidity Sweep
     • Break of Structure
     • Fair Value Gap
     • Order Block Entry
   • Include higher timeframe analysis (Daily, 4-Hour, 1-Hour structures).
   • Helps identify patterns and improve future trades.

4. Risk Management

   • Ideal risk per trade: 1-3% (preferably 1%).
   • Consistent, calculated lot sizes.

5. Plan Adherence

   • Confirm whether you followed your trading plan.
   • Detailed description of plan adherence or deviations.
   • Impact on trade outcomes.

6. Emotions and Psychology

   • Note emotions before, during, and after a trade:
     • Fear
     • Overconfidence
     • Anxiety
     • Greed
   • Analyze how emotions affected trading decisions.

7. Improvement Areas

   • Identify how to enhance future trades:
     • Better risk-to-reward ratios.
     • Emotions management.
     • Plan adherence and execution.
   • Evaluate both winning and losing trades.
   • Continual refinement.

Benefits of Journaling

• Keeps detailed records for future reference.
• Enhances learning and understanding of trading patterns.
• Helps in quick decision-making during live trades.
• Encourages disciplined and consistent trading behavior.

Final Thoughts

• Journaling as a serious, ongoing effort for improvement.
• Avoiding mediocrity; commitment to excellence.
• Encouragement to write down detailed observations and reflections.

Conclusion

• Recap of importance of each journal component.
• Encouragement to watch the trade recap for practical insights.