Trading Lesson: The Power of Journaling
“JOURNAL IT...Write everything down, it will only make you better.” – ProTrader Mike
As a new student in MOJO University you will see how vitally important it is to journal and record keep all your trades. 90% Students in class are new to trading and have not developed winning habits. All my students tell me for a fact that this advice has a lot of meaning, both in everyday and trading.
All new students promise to take diligent notes on their trading, writing down when they bought a stock, what entry points, what profit targets and exit points, everything. Anything to do with the trade, traders must write that down. You supposed to record every trade both winners and losers and you should review the journal at night before closing down shop. Record keeping on entries, exits - why it worked - why it did not work - all recorded in the journal.
A trading journal is a vital tool in any day trader’s toolbox. Without a journal, you are at a serious disadvantage. You will not pick up on the patterns that will one day become essential to your success. You will be left in the dust, while MOJO ProTrader’s, who have all kept diligent notes, will continue to profit. Even Dr. Alexander Elder says so in his book below.
Journaling is a skill that is not only important to your success as a trader, it is also something that can have a direct positive impact on other areas of your life.
One of the Best Day Trading Books Today is By Dr. Alexander Elder - here reiterates the importance of journaling and how the best traders of all time have had one thing in common - journaling.
Did you see the movie Seven Days In Utopia?
You should.....This past weekend, played golf shot a 69...Pro level....here is how.
Besides practicing my buns off for YEARS!!! Like a crazy man, you have to in order to get that good. I keep endless journals on my golf game, so I now knows exactly what distance to expect from each shot, with each club. This dedication to success shows up in all aspects of my life.
Saturday's Round = 69
Sunday Morning 7:00am Tee Time = kept the streak alive all recorded so can revisit and learn anytime in the future.
Score: 62 (4 Birdies) Watch out Rory!!
Notice, I journal every hole. On the first hole I hit Driver perfect. That is the D with the 3 check-marks. If it was a STAR that would mean the best shot of my life and if it was 2 check marks well that not too good but still in play. I record how far I hit the ball how far I have to the pin on every shot and what club I hit to get there. Then how far I was from the pin in feet, and finally how many putts I did for that hole. A circle around the score is a BIRDIE!!
Take it upon yourself to keep a journal with everything, so you can experience the same level of success as the other MOJO ProTraders.
Watch today's MOJO Show $MPET from $1.20 to $5.00 for a 400% return....see how watch video.