Page 21 - Buildingastrategy

BUILDING A STRATEGY PART 9

USING A JOURNAL WHEN TRADING

I often get asked for recommendations of any good football
trading books from traders looking to improve their trading

skills. The answer is simple and one that always gets met

with scepticism! the truth is the best trading book you can
have is your own journal.

Recording and reviewing everyone of your trades on a daily/weekly or monthly
basis is the best way to get feedback on how you are trading and how you can
improve, what you are doing right? what you are doing wrong? How did a
decision effect the out come of a trade? what could you have done differently?

I built everyone of these profitable strategies in this Ebook by journalling. For
example, when building my Short term flipping strategy I managed to identify a
pattern in my journal of when I was profiting the most, which was when your
traded player's team is playing against weak opposition and the best exit point
is pre-match.

A good strategy is important but in an ever changing market tracking,

recording and reviewing your reasons and decisions is the best way to improve
and evolve.

Different ways to Journal?
Journalling should not be seen as a chore, after all it is only going to be for the

benefit of yourself and for you too understand! I have seen many different
styles of how traders journal and these include
Paragraphs
Sentences
Notes
Bullet points
Words
Symbols

What ever works for you will be the best way to improve do not commit to
detailed paragraphs if you are likely to get bored as this will end up having a
negative effect, mix it up and keep it fresh.