Monday, 25 January 2021

How to Record Trades in Your Trading Journal

Today I'm going to record my first trade.  As you may know from my previous blog posts and videos. I have started a public 20K Swing Trading Challenge. 

How will I record my trades? 

I'd like to share with you a very unique method of recording my trades. We call this method the T20 Principle. 

I have learned this technique from Mark Douglas the Great (RIP). He introduced this concept in his famous book Trading in the Zone. 

I'm going to record my trades in Batches of 20. I will record each trade in a separate post. This is a modified version of our T20 Journaling Template. 

T20 Principle Book: If you're a member of AIMS please do not miss download the book T20 Principle. 

1. Batch and Trade Number: 

2. Symbol and Time Frame:

3. Signal Type: 

4. Trade Direction :

5. Date/Time: Entry:        

6. Date/Time Exit:   

7. Entry price: 

8. Exit Price:

9. Questions Before Trade is Taken: (I will record these in the form of a video analysis of the trade) 

  • How do I feel before setting the order? 
  • Intuition?
    e. g. What is your intuition about this trade? Do you think its a good setup? Do you think it will be a winner? How do you feel internally? Is the technical analysis correct? Is the market really in a good position to go in this direction? 
  • Is this technically The Setup 1?
    [This question is entirely focused on the technical analysis side. Is this really a perfectly good setup 1? Is M1 creating the proper setup 1 pattern? Is the M5 Chart (or the 5XHTF) creating the correct corresponding pattern? Gator is open and there is a 4-5 candle pullback? etc]

10. Post Trade Questions: 

  • How Do I feel after closing the trade (or end of the session for Day Traders)?
  • Have I done well and why?
  • Have done badly and Why?
  • What Could I have done differently? 

11. DS For this Trade:

12. DS Running Total:

13. Add Picture and Video 

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