Through this post, we will try to answer how you can prepare a trade journal and how you should use it to become more profitable in the stock market. So, logging the trades is very important for analysis and learning. Do remember to check our bank nifty option tips as this journal can help you get better at making a profit using our expertise in the field.
Trade Journal or Trading Journal
You can take a print of the above trade journal or you can make one in the excel sheet and modify it as per the below guidelines.
- Date
- Strike Price ( Bank Nifty 34300ce )
- Entry Price
- Exit Price
- Stop Loss Planned Price ( Before Trade)
- Stop Loss Executed Price ( After Trade )
- Trade Set Up Qualified ( Yes / No )
- P & L Of The Trade
- Reason For Taking The Trade
- Learning From The Trade Irrespective Of The Outcome
If Possible also Add
1. Actual Planned Buy Price
2. Actual Entry Price
3. Actual Planned Sell Price
4. Actual Selling Price
End Of The Sheet, Write A Detailed Summary For The Day Overall Be It Profitable Or Be It Loss Making Day & Every Day Use A Separate Spreadsheet & Save It Monthly Wise
Unless This Is Not Tracked, Be Rest Assured Tasting Success May Only Result in a Dream
Daily Trade Report Will Help You To Analyze Two Things
What I Could Have Done Better
What Are The Mistakes I Commit Repeatedly
Every Body Wants To Win Here But Only 10% Stay Here On Long Term & They Are Highly Disciplined is Reason, They Stay Here
Any Given Day, Ensure To Keep Your Profits At Around 3 to 6% & Strictly Your Losses Not Exceeding 3%
There Are Few Days Where The Markets Can Be Highly Volatile & In Such Days The Loss Should Never Exceed Beyond 5%
Traders do not become successful overnight and they need to put their sweat and hard work coupled with accurate bank nifty option tips to start making money every day.
