When it comes to journaling and recording trading performance, there are two types of formats a trader can choose from. Both have their pros and cons and in this article, we want to help you understand the differences so that you can find what is best for you.
#1 A written journal – a.k.a. The Diary
Most traders don’t keep a real journal, but what they have is a diary. Traders with a trading diary mostly use Word, Evernote or just a physical notepad to write down thoughts, feelings or ideas about their trades.
In its essence, the idea of a diary journal is good but the execution is usually less than optimal and there are no benefits from keeping a written journal if the notes just disappear in your drawer and you never look at the again.