Thursday, October 22, 2009

Trading Journal Resources

Keeping trading journals is an excellent way of tracking performance, evaluating strengths and weaknesses, and setting goals for development. Here are a couple of resources that might be helpful for traders looking to become more organized in their quest for the next level of performance:

* StockTickr - This application allows traders to keep a journal, calculate performance, and even automate trading ideas;

* Stock Trade Journal - This application allows traders to enter trades, calculate P/L, keep notes, and track their performance;

* TradePerformance - This application produces extensive performance reports regarding one's trading and also includes templates for business planning and journaling.

It's worth looking into many different journal formats to see what works best for you. Some people keep audio journals by dictating their notes. There is no one best way to keep a journal; the key is keeping entries doable and informative, so that entries can lead to concrete goals and actions to improve trading.