The ‘Traders Mind Journal’ is based upon two core principles. Firstly, that trading psychology is a fundamental component of trading performance, and secondly that keeping a trading journal is extremely valuable in helping traders to stay disciplined and focused, to navigate the ups and downs of trading the markets effectively, and to improve their trading performance.
The ‘Traders Mind Journal’ is not a traditional trading log - a place to record the trades you made, entries, exits and pips accumulated – but rather a trading journal focused on the psychological components of trading, helping you to prepare mentally and emotionally for the trading day ahead, reflect on your trading decisions, to manage your thoughts and emotions, and to gain insights about your trading behaviour that can be turned into concrete actions and goals that ultimately enhance your performance.
Most traders will have been told that keeping a journal is important, and will have probably kept a trading journal in some form or other at some time - and then stopped. Sometimes this is because journals are seen as a ‘tool’ only for beginner traders or, perhaps for traders going through a tough time. For some the journaling process stops because the journal is too complicated and time-consuming, for others it is because it has not been structured well, and does not provide valuable insights, or encourage the taking of action, that can lead to tangible improvements in performance. For some the reality may be that it is simply a lack of commitment to trading at their best that stops them from keeping a trading journal.
A good trading journal can play an essential role in your ongoing learning as a trader, in the pursuit of mastery of yourself and the markets, and in helping you to trade at your best, no matter what your level of experience or success.
Keeping your ‘Traders Mind Journal’ will ideally become an important and integral part of your trading process, a reflection of your commitment to becoming the best trader you can be, and a valuable companion in your trading journey.
The Traders Mind Journal is published by Performance Edge Consulting Limited which is owned by Steve Ward.
Steve has spent almost 20 years providing performance coaching, training and consultancy services to traders, analysts and portfolio managers at banks, hedge funds, asset managers, commodities trading houses, utility companies and proprietary trading groups across the globe.
He is the author of ‘Bulletproof Trader’, ‘Tradermind’, ‘High Performance Trading’ and ‘Sports Betting To Win.