Why you need a day trading journalĪs we have told you, almost all successful traders keep track of their trades. Some of the most popular tools to use are: Google Sheets (or Excel), Google Docs, Evernote, and Microsoft OneNote. These soft-copy versions are usually better because they can be synced from one device to another. These days, many people are using soft-copy versions of journals. In the past, most people used to focus on a book. Traders have different strategies to write their journal. The same practice is used by super star traders such as Ray Dalio, Bill Ackman, and George Soros.įor currency traders, journaling will help you understand the best currencies to trade, when to trade, how to trade the release of economic data, and how to allocate resources in your portfolio. Whenever he buys or sells a stock, Warren Buffet has developed a routine of writing down the reasons for doing this down.
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