Stocks & Commodities V. 24:4 (10-13): Letters To S&C by Technical Analysis, Inc.
The editors of S&C invite readers to submit their opinions and information on subjects relating to technical analysis and this magazine. This column is our means of communication with our readers. Is there something you would like to know more (or less) about? Tell us about it. Without a source of new ideas and subjects coming from our readers, this magazine
would not exist.
ARTICLE TOPIC SUGGESTION
How about information on keeping a trading journal?
Everything I have read on the topic talks about the importance of a journal but provided no information about what to put into one.
Thanks for your article suggestion. This is always a good topic, since traders should always have a trading plan. Ideally, the trader’s daily discipline should include his or her daily evaluation of the market; a trading idea
based on the current market; the risk / reward considerations of the idea; and adherence to a money management strategy. The best plans are documented, so some traders keep daily notes and trading journals. According to trader Tushar Chande, a trading plan is like a game plan and should clearly specify actions to take under different conditions.
Some websites and blogs give you an idea of the daily notes and observations that other traders keep. In addition, some technical analysis programs, such as Prophet.Net; the Applied Reality Trading home study course; Trendsetter Software’s Personal Hotline and Pro Analyst; and many others offer a trading journal feature.