Daily Trading Journal

7/31/2019 Daily Trading Journal

1/98

DailyTradingJournal


2/98


3/98

Name

Date of first entry

Date of last entry

This Journalbelongs to:


4/98

Daily Trading Journal:A Short Journal For Traders To Record Their Everyday ThoughtsAnd Emotions On Trading; by Bennett A. McDowell

2003 by Bennett A. McDowell, TradersCoach.com.All rights reserved.

Published in the United States of America by:TradersCoach.com10755-F Scripps Poway Parkway, #477San Diego, CA 92131 USA

Website: www.traderscoach.comPhone: (858) 695-1985Fax: (858) 695-1397E-Mail: [email protected]

No part of this publication may be reproduced, stored in a re-trieval system, or transmitted in any form or by any means, elec-tronic, mechanical, photo copying, recording or otherwise with-

out the prior written permission of TradersCoach.com.

The information in this book: Daily Trading Journal is intendedfor educational purposes only. Traders are advised to do theirown research and testing to determine the validity of any tradingidea or system. Trading and investing carry a high level of risk.Past performance does not guarantee future results.

TradersCoach.com, Bennett A. McDowell or affiliates assume noresponsibility for your success or failure in trading the markets.

Illustrations, Cover & Interior Design 2003 Pneuma Books:Complete Publishers Services. For more information, visitwww.pneumabooks.com

Printed in the United States of America10 09 08 07 06 05 04 03 10 9 8 7 6 5 4 3 2 1

ISBN 0-9703387-4-0


5/98

Bennett A. McDowell

DailyTradingJournal

A Short Journal For Traders To

Record Their Everyday

Thoughts And Emotions On Trading

Introduction by

TradersCoach.comSan Diego


6/98


7/98

As traders, we are destined to learn more about ourselveswith each and every trade we make whether it is a prof-itable trade or not. Sometimes the losing trades can teach usthe most about our own psychology, presenting a golden op-portunity to benefit from an apparently miserable situation.

If we miss this opportunity to discover our own unique andspecial psychological strengths and weaknesses throughthese trading experiences we surely will struggle both emo-

tionally and financially.

With this understanding, the need for the Daily TradingJournalbecomes clear.

This is a place where you can quickly jot down thoughts andfeelings each morning and evening about your emotions.

This is not where you want to record profits and losses. It ispurely an outlet for the feelings the good, the bad and theugly that come up each and every day of trading.

Introduction

n vii n

Know

Thyself


8/98

Is your glass half empty or half full today? Isnt it interesting

how we can perceive identical elements in a different wayat different times? These perceptions work for us or againstus in the trading room. For that reason it is important tomaintain positive emotional energy every moment that weare trading.

This is a challenge at times for even the most seasonedtraders, yet it probably affects the novice professionals moreseverely than the veterans. The challenge of maintaining op-timistic energy even during sizable losses, stop-outs, andtrading errors gets easier with time and experience. Pa-tience is truly a virtue for traders just starting out!

How easy it is to criticize yourself when youve made a trad-ing error such as not adhering to a stop, miscalculatingcharts or market information, or buying on a hot tip thelist can go on.

The reality is that these trading errors can give enormousinsight into your personal psychology. Maybe you are sabo-

taging your own trading without realizing it. Why wouldanyone do that? Well, its like any self-destructive behavior; itis deep and complex and not necessarily apparent to thenaked eye.

n viii n

Perception& Reality


9/98

Do you have a sense of guilt that you have taken someoneelses money when youve had a winning streak that makes

you feel you should give it back? Do you feel you dont de-serve to be successful that its not your place in life? Doyou think trading is too easy that you should work harderfor your money and for success? Is fear of success and theunknown stopping you?

Whatever the core of your belief system is, you must uncov-

er it, accept it, and embrace it. Then and only then can youchange any negative belief systems into ones that are morecompassionate and supportive. The goal is to attain a pros-perous and joyous professional life.

The self-contempt that can go hand-in-hand with negativepersonal belief systems leads to denial and ultimately a vi-cious cycle of painful behavior. Your identity is not one andthe same as your belief system. We all have the ability tochange. Like various twelve-step programs, the first step onthe road to change and recovery is to humbly admit that youhave a problem, or a negative belief system.

Some think the easier path is to take the victims standpoint.The market took my money! My clearing house gave me abad fill! That person gave me bad information! My trad-ing system doesnt work! My spouse is nagging at me andstressing me out!

Others choose to criticize themselves with the Coulda,

Woulda, Shoulda approach. They suffer from a constant di-alogue of, Im such an idiot, I could have done this and itwould all be okay!, I should have done that! or I wouldhave done that if only

n ix n


10/98

Whats done is done. No matter how terrible you perceiveyour situation to be, the reality is probably much brighter.

Believe me!

A negative state of mind makes everything seem worse. Tak-ing it out on those around you, or the market, or yourselfdoes not benefit you in any way. Your account balance isonly a number. If you equate your self-worth with that num-ber then you are operating from a negative belief system.

No matter how severe your losses are, it is crucial that youturn them into a positive. Learn something from them. Ifyou dont learn something from your trading or if you stoptrying to learn something then it truly is a loss.

While we are on this earth, we are inescapably human. Andby definition, to be human is to be imperfect. That can bevery difficult to live with for some.

We all strive for perfection, or some illusion of such. But inall honesty life is not perfect and we as humans are no ex-

ception. Instead we are perfectly imperfect. Accepting thistruth and believing it can be a magical and liberating key tosuccess as people and as traders.

n x n

On BeingHuman


11/98

Try to forgive yourself for being human. Regard your mis-takes as a gift and a reminder that this journey is a learning

process and a work of art. Do you look at a painting or ahand made craft as being unattractive because it reveals tex-tures or imperfections left by the artist? Probably not, sinceit is these marks that makes them one-of-a-kind, authenticand special.

Remember this when you make a mistake in your trading.

You will have a trading experience and learning processthat is different from anyone elses. And you will learn fromyour mistakes in life. They can be your greatest teachers!

Ultimately, the purpose of theDaily Trading Journalis toserve as a tool to help you learn something from the lossesand the gains. Its a way to get to know yourself and help youmake your personal psychology work for you. Everyone atTradersCoach.com wish you all the best in your trading andyour life!

Bennett A. McDowellMay 2001

n xi nn xi n


12/98


13/98

n 1 n

Jot down your thoughts and feelings on trading, life andanything that comes into your mind. This should be donefirst thing in the morning as you awake and after youvestopped trading for the day.

KISS keep it simple. The important thing is to write everymorning and evening. there is no need to write more than

you have room for on the journal pages provided.

Instructionsfor using your journal


14/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 6 n


15/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq

ThursdayqFridayqSaturdayqSundayq

n 7 n


16/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 8 n


17/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 9 n


18/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 10 n


19/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 11 n


20/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 12 n


21/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 13 n


22/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 14 n


23/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 15 n


24/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 16 n


25/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 17 n


26/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 18 n


27/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 19 n


28/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 20 n


29/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 21 n


30/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 22 n


31/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 23 n


32/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 24 n


33/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 25 n


34/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 26 n


35/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 27 n


36/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 28 n


37/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 29 n


38/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 30 n


39/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 31 n


40/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 32 n


41/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 33 n


42/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 34 n


43/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 35 n


44/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 36 n


45/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 37 n


46/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 38 n


47/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 39 n


48/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 40 n


49/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 41 n


50/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 42 n


51/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 43 n


52/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 44 n


53/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 45 n


54/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 46 n


55/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 47 n


56/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 48 n


57/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 49 n


58/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 50 n


59/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 51 n


60/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 52 n


61/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 53 n


62/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 54 n


63/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 55 n


64/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 56 n


65/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 57 n


66/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 58 n


67/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 59 n


68/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 60 n


69/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 61 n


70/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 62 n


71/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 63 n


72/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 64 n


73/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 65 n


74/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 66 n


75/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 67 n


76/98

Todays Date is:

a.m.

q Mondayq Tuesday

qWednesday

q Thursdayq Friday

q Saturdayq Sunday

n 68 n


77/98

Tonights Date is:

p.m.

MondayqTuesdayq

Wednesdayq


n 69 n


78/98

n 70 n

Congratulationson completingone journal month!


79/98

You can use the following pages to recap the months highsand lows. Record any themes or patterns in your psychology.

Monthly Recap

n 71 n


80/98

n 72 n

Monthly Recap


81/98

n 73 n

Monthly Recap


82/98

n 74 n

Monthly Recap


83/98

n 75 n

Monthly Recap


84/98

n 76 n

Monthly Recap


85/98

n 77 n

Monthly Recap


86/98

n 78 n

Monthly Recap


87/98

n 79 n

Monthly Recap


88/98

n 80 n

Monthly Recap


89/98

n 81 n

By continuing to write in in the Daily Trading Journalevery morning and every evening, you can monitor and

evaluate how your emotions are affecting your tradingperformance.

Feel free to use the order forms in the back of this journal toacquire a new Daily Trading Journalfor use during yournext month of trading.

Continue To Journalyour thoughts & emotionson trading


90/98

Bennett A. McDowellAuthor of the Survival Guide for Traders

and TradersCoach.com President


91/98

Bennett A. McDowell worked on Wall Street with J.J. Kennyand was a licensed stockbroker with Prudential Securitiesand Morgan Stanley Dean Witter. His book, Survival Guide

For Traders helps traders set-up and organize their tradingbusiness. Currently an active trader and registered invest-ment advisor, he has also studied with world-class trader BillWilliams, PhD, at the Profitunity Trading Group.

The author launched TradersCoach.com to provide straight-forward guidance to the new generation of traders active inthe market today. Thanks to the phenomenal technologyavailable, trading has become an accessible profession toanyone with the inner passion to pursue it.

As Bennett says, The key is for traders to follow their pas-sion and at the same time develop the skills necessary to beconsistently profitable. By working with a trading coachlike Bennett at TradersCoach.com, it is easier for newtraders to stay focused on developing their skills.

Bennett welcomes your comments, insights, and questionsand can be reached by e-mail via [email protected], you can visit the website at www.traderscoach.com.

n 83 n

About the Author


92/98


93/98

Fax & Mail-In Order FormTradersCoach.com Phone: (858) 695-1985 Fax: (858) 695-1397

Mail: 10755-F Scripps Poway Parkway; #477; San Diego, CA 92131 USA

Name:____________________________________________________________________________

Street Address:___________________________________________________________________

City:_______________________________________________________________________________

State: _________________________________________Zip: ______________________________

Country:__________________________________________________________________________

Phone: _______________________________________Fax: ______________________________

E-Mail: ___________________________________________________________________________

Credit Card #:_________________________________________Exp Date:_______________

Payment Type: (Circle One)

# of____________Daily Trading JournalsA Short Journal For TradersTo Record Their EverydayThoughts And Emotions On

Trading. (Journal hasenough pages for one fullmonth) $14.95 each.

I understand that my credit card will becharged for the dollar amount of the item(s)above and for any applicable sales tax. Thedollar amount above includes shipping andhandling. The selected item(s) will be deliv-ered to me at the above designated customer address within five businessdays from receipt of my order. (Outside the contiguous United States of

America item(s) will be delivered within 15 business days.) This offerexpires December 31, 2004.

Cardholder Name:______________________________________________________________

Cardholder Signature:__________________________________Order Date:_________

AMEX MasterCard Visa Check Enclosed


94/98

BRM

order

form 1


95/98



Name:____________________________________________________________________________

Street Address:___________________________________________________________________

City:_______________________________________________________________________________

State: _________________________________________Zip: ______________________________

Country:__________________________________________________________________________

Phone: _______________________________________Fax: ______________________________

E-Mail: ___________________________________________________________________________

Credit Card #:_________________________________________Exp Date:_______________

Payment Type: (Circle One)

# of____________Survival Guide ForTraders, Second EditionHow To Set-Up AndOrganize Your Trading

Business. $79.95 each.

I understand that my credit card will becharged for the dollar amount of theitem(s) above and for any applicable salestax. The dollar amount above includesshipping and handling. The selecteditem(s) will be delivered to me at the abovedesignated customer address within fivebusiness days from receipt of my order.(Outside the contiguous United States of America item(s) will be delivered

within 15 business days.) This offer expires December 31, 2004.

Cardholder Name:______________________________________________________________

Cardholder Signature:__________________________________Order Date:_________

AMEX MasterCard Visa Check Enclosed


96/98


97/98



First Name: _____________________Last Name: ______________________

Street Address: __________________________________________________________________

City: ______________________________________________________________________________

State:___________________________________________________Zip: ________________

Country: ________________________________________________________________________

Phone: _________________________Fax:______________________________________

E-Mail: __________________________________________________________

Get your FREE VHS,

DVD, or CD-ROM!TradersCoach.com offers a special free pro-

gram entitled, Trading: The Perfect Business.

It has information on how the products and

services of TradersCoach.com can help you along on the path to trading

success. Fill out this form today to receive your FREEVHS, DVD or CD-ROM!

Circle your preferred program format:

VHS DVD CD-ROM

Circle the region where you will be using the program:

NTSC . . . . . . (The United States, Canada, Mexico, Philippines & Japan)

PAL. . . . . . . . . (Great Britain, Europe, Australia, India, Singapore & China)

SECAM. . . . . (France, Russia, Greece, Jamaica & Iran)I understand and agree by signing below that I will not hold TradersCoach.com or any affiliatesliable in any way for services, products, or information rendered past, present, or future. I alsonote that TradersCoach.com does not guarantee my success in trading the Markets and that it ispossible for me to lose money in trading the Markets. One FREE program per customer. FREEoffer expires December 31, 2004.

Signature (required): ______________________________Date: ____________


98/98

Documents

Daily Trading Journal