Journaling And Trading Performance 12 Insights From Traders Mind Journal Users
The Traders Mind Journal is one year old on July 14th 2022, and over that time we have been fortunate to have sold thousands of journals to traders and portfolio managers, in the retail and institutional domains, across asset class, in 62 countries across the globe.
Simon and I are both firm believers in the value of journaling for traders. Simon has seen how it has elevated his own performance over the years, and I consistently see the positive impact of journaling when I am working with my institutional clients.
We took a lot of time and effort to construct the journal, to attempt to make it engaging and intuitive to use, to structure it such that it has continuity and flow, to make it time-efficient, and of course, most importantly, for it to be effective in helping traders to enhance their trading mindset, behaviour and performance.
However, what really matters of course is the actual user experience – how well does the journal do what it was developed to do?
Below are 12 insights that have come out of the multitude of feedback that we have received over the last 12 months from Traders Mind Journal users, that demonstrate what the journaling experience is like, and what some of the benefits of journaling are.
It doesn’t have to be time consuming.
“At no point did I feel a burden on my time or energy like I have in the past with some note taking exercises I have set myself.” – DH
Writing things down each day really can help.
“The daily sheets are great - writing down my observations, evaluations, planning was particularly helpful.” - LDM
“I found the structure of the daily and weekly reflection questions to be very helpful in consistently evaluating my trading performance.” - AF
Writing things in a journal by hand is different experientially, and more beneficial, to typing on a computer.
"I think the very process of writing down thoughts and ideas creates a flow that no online journal can replicate." – MH
Consistent journaling can make a real difference to your mindset, and your trading performance.
“It’s been brilliant! I am using it every day religiously and feel it’s made a big diﬀerence to both my trading and my mindset.” - TR
It helps you to think about your trading from a different, and very useful, inner perspective.
“It’s forced me to view trading from the inside out and that has been valuable for me.” – HS
It can play a very valuable role in helping you to manage your trading mind.
“What I have especially noticed is repeating thoughts and recurring mental “themes” which have brought awareness to these things. Instead of my monkey mind chasing these thoughts in circles, I have been able to more clearly organize and rearrange my thoughts.” – Anon
Even a very quick assessment of key mental, emotional and physical factors each day can be valuable.
“I found assessing my daily stress, energy and mood to be very valuable for prompting a think about my state in which to trade. More importantly, they also caused me to think why they were what they were. Why was stress low? Why was energy high? Or the other way around, of course.” – SM
It helps to focus your mind for the trading day ahead.
“One daily question I especially like is ‘The most important things to focus on my trading today are:’, as this brings things to the forefront of my mind which I maybe have missed from previous sessions.” – Anon.
It is good to make it your own – to personalise your journal to your own context.
“The questions are thought-provoking and give me a solid foundation for journaling and encourage me to expand upon the content to make the journal my own.” – CS
It might not be easy, but it is worthwhile.
“At first, it is a demanding exercise. Like when you are beginning a sports training. As I get more persistent it gets easier. I can't wait for it to become a second nature. I learn a lot about myself, not only regarding trading but also in everyday life." - GD
It can have a positive impact on your life beyond trading.
“I am benefitting from the journal to the extent that I adapted your journal's principles and concepts to improve other areas of my life.” - CS