The Traders Mind Journal
There are two major parts to developing into a Consistently Profitable Independently Minded Trader, the first part is getting to grips with the Process ( The Mechanics!) and the second part is your personal Trading Psychology. Both, however, require you to be accountable, to both yourself and a Mentor. Both require a level of self examination and honesty. One of the best ways to achieve this is by Journaling.
Keeping a Trading Journal should aid self-reflection, a track record and highlight areas for improvement. One of the best trading journals that I have come across is the Traders Mind Journal (TMJ) put together by one of the best Performance Coaches in the UK, Steve Ward. The TMJ is the ultimate companion for anyone who wants to trade at their best. The TMJ has been developed to help traders to improve their performance through engaging in a focused journaling process, built around three core high-performance factors:
a focus on continual improvement
training how you think and feel
creating high performance trading habits
So Why Journal?
Keeping a trading journal is extremely valuable in helping traders to stay disciplined, self-accountable and focused, to navigate the ups and downs of trading the markets effectively, and to improve their trading performance.
The ‘Traders Mind Journal’ provides 3-months of focused journaling questions; planning and preparation activities; evaluations, assessments and reflective exercises; and mental and behavioural training practices, all carefully designed and structured to help you to enhance your trading performance.
The TMJ facilitates
Reflection, Planning & Action by encouraging:
- Pre-journaling preparation.
- Daily planning, preparation, market and self-observations and evaluation.
- Weekly reflection and planning.
- Weekly ‘Trading Performance Scorecard’ assessment.
- Monthly review, planning and goal setting.
- Journal review and reflection.
It also helps with Mindset, Mental Skills & Creativity providing a creative space for reflection and idea generation and utilises mastery practices for developing key mental skills and high-performance behaviours. Also there are regular quotes for reinforcing key ideas and for providing a dose of inspiration.
If you would like help with your development as a Trader and with your personal accountability and mindset then grab a copy here:
Helping You In The Pursuit of Trading Mastery
Please note that ForexTradingLondon.com is NOT affiliated in any way with the TMJ, we just think it is an excellent aid to Trader Development and we use it.