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Why do so few traders keep a journal, even though it’s one of the best ways to improve?
Hi, just wanted to rant a little bit. Everyone says keeping a trading journal is crucial for improvement, but from what Ive seen, most traders dont do it at all. I know its tedious to manually write down every trade, especially when you’re trading multiple pairs or scalping. But after forcing myself to review my trades regularly (i automated it cause manual is a pain in the ass), I realized it helped way more than I expected. Seeing recurring mistakes helped me cut them out. \- Tracking setups showed me which ones actually worked vs. just “felt good.” \- Decomposing of returns (Do i have an edge irrelevant of conditions or is just market drift moving my positions? \- A big part of the "confidence" component comes from systematizing your trading and recording the results. Data exhaust from your own trading is more valuable than any information the market can give you, and its impossible to know how things are going if you dont follow your own rules. Let data be your confidence. \- Reducing costs is free alpha with zero volatility. People genuinely understimate how much not executing properly tanks your profits. That said, I still feel like most traders dont journal. Is it just because its too much work, or do people not realize the huge benefits it provides? Do you guys track your trades in any way?3
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