Do you keep a trading journal? Tim Bohen is talking about the importance of keeping a trade journal that meets all 5 of these criteria!
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Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
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The Ticker - First and foremost, make sure you’re writing down the ticker for the stock you’re trading. When you’re reviewing these trades, you want to make sure you know which company you’re taking notes on.
Position Size - Always be aware of your position size. Some traders perform worse with larger position sizes, and vice-versa. The best way to find out is to track it.
Profit and Loss - Tim Bohen marks his profits in black pen and losses in red pen to make it easier to flip back through his trading journal and find what trades were successful, and which were not.
Thesis - Note your reasons for trading a specific stock. This is the meat of your trading journal. You need to digest the news and the chart pattern. What is the overall market doing? Put that in your notes so when the trade does or doesn't work, you can close the loop on that thesis.
Trade Plan - This is the MOST important part of a trading journal. Jot down your plan, profit goal, as well as your stop loss. It’s so easy to get carried away with emotions in the stock market, but writing down a plan and sticking to it is a great way to save yourself in the markets.
#StocksToTrade #TradingJournal #TraderTips
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/OzMGss5Zp9U
✅ Links we mention and recommend:
Try StocksToTrade for 14 Days for $7: https://stockstotrade.com/7daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/CPDjFpfw5OQ
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
The Ticker - First and foremost, make sure you’re writing down the ticker for the stock you’re trading. When you’re reviewing these trades, you want to make sure you know which company you’re taking notes on.
Position Size - Always be aware of your position size. Some traders perform worse with larger position sizes, and vice-versa. The best way to find out is to track it.
Profit and Loss - Tim Bohen marks his profits in black pen and losses in red pen to make it easier to flip back through his trading journal and find what trades were successful, and which were not.
Thesis - Note your reasons for trading a specific stock. This is the meat of your trading journal. You need to digest the news and the chart pattern. What is the overall market doing? Put that in your notes so when the trade does or doesn't work, you can close the loop on that thesis.
Trade Plan - This is the MOST important part of a trading journal. Jot down your plan, profit goal, as well as your stop loss. It’s so easy to get carried away with emotions in the stock market, but writing down a plan and sticking to it is a great way to save yourself in the markets.
#StocksToTrade #TradingJournal #TraderTips
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
I dont know how you have time to write all this down before you enter a trade as you said the ticker move so fast if im gonna write it down the ticker gonna move without me
Yes. Though I haven't started trading yet, I took the time to setup "Notion" with a database of the five criteria. What I like about Notion is I can have a database and notes area to add comments (i.e. Thesis, plan, lessons learned (or AAR courtesy of David Goggins). I plan to also upload videos and screenshots of the actual trade. I plan to start with paper trading and track that first. I'm old too (56)!
I am learning how to use Evernote and watching your other videos for journals.
I put my trades into a journal and put the %gain/loss
Yes – forming one tonight. Thanks!
yes. i trade options. I got a free journal for free, as part of my paid service in (options). At first i was confused. now i put my trades. when i bought and when i sell. um, many have expired worthless. I guess i don't follow instructions, but i like the red pen, and the i will use a blue or blue green pen for money i earned.
money used to be blue green, they later changed it to green. i just check mark. sharpie pen, too heavy. instead of red, i use pink, and a blue green, or green for earned.
Yes I do. That's a must!
Yes
Thank you, Tim, good to reaffirm what I've been doing, though I'll definitely need to optimize and organize everything!
Yes Tim, I used some of them. But from now I will use all of these 5 criteria. Thank you for this best and useful advices.
Yes.
No. Up until now that is. Maybe It would benefit my trading to do so.
What are your thoughts on trailing stop losses?
yes. can i buy a stt trade journal
Thanks to technology you Don’t need a journal. Everything is already tracked. That’s some old shyt 😂😂😂
I do, and now i see I need to track with more detail… Enjoy learning from you…will start this tomorrow. 4-25-19.. Thanks
Yes I am. And cookies to reward me for folowing my plan.
I will not sink with the ship
Yes I do! 2 months doing that. Thanks Tim!
Do you use a trade journal? Leave a yes or a no below, I'd like to know how many of you are applying this and actually keeping track of your trades as you make them!
Yes (recent habit)