Comments on: On Trading Journals

By: Flow

Flow — Sun, 30 Oct 2005 18:40:04 +0000

Mike,

you should check out Ninja Trader, Version 5(Beta). Just got it, and it automatically generates all of your categories, but also Maximum Adverse excursion of your trades etc. etc…. seems well worth it since it saves you a lot of time…

By: Michael

Michael — Mon, 10 Oct 2005 03:01:15 +0000

People can and do take volatility into account when sizing their positions. See the ‘percent volatilty’ method in my position sizing post for just one example of that.

By: Technicator.NET

Technicator.NET — Sun, 09 Oct 2005 23:02:37 +0000

I also use excel for position sizing. It seems that high priced stocks tend to give you better leverage (such as google), and smaller stocks require a bigger initial risk (most of the time). Therefore, according to position sizing, many times it’s better to trade higher priced stocks which are less volitile. Do you think position sizing can be implemented into volatility based calculations or expectancy? I was thinking of that because position sizing doesn’t rquire any volatility calculations in it and that does matter when trading and assessing risk.

By: Michael

Michael — Wed, 31 Aug 2005 03:03:22 +0000

Thanks Scott.

By: Scott_H

Scott_H — Tue, 30 Aug 2005 23:18:57 +0000

I found this site one day when I was looking for trade journal software:

http://www.members.optusnet.com.au/~traderslog/index.html

There is a free “lite” version available for download and an updated (pro?) version supposedly due out in September. I haven’t played around with it, so I can’t comment on its usefulness.

I use an Excel spreadsheet to track most of the numeric data related to my trades and a Word doc template I created (that is linked to the spreadsheet) to track the “qualitative” items (to include screen captures of the charts at the time of trade entry and exit). I’ve found this to be more flexible than software that someone else created.

On one of the Yahoo Groups, someone had a nifty way of using the calendar function in Outlook as a trade journal. I’ve got the particulars around here somewhere. I’ll send them along if I find them.

By: The Doji Trader

The Doji Trader — Tue, 30 Aug 2005 05:46:50 +0000

Mike, I was thinking the same thing… I reckon a web based trading journal would work well. Might start collecting ideas for a system and start a side project. Like you said the only hissue is time… however I do develop software for a living(I want to trade for living tho) so I may be able to fit it in.

By: Mousefinger

Mousefinger — Mon, 29 Aug 2005 20:25:48 +0000

Excellent post…trading journals is a subject that isn’t talked about enough, IMO.

I use a freeware product called “iDaily Diary”. They also have a “pro” version (don’t they all) that sells for $30 (USD). It works pretty well for me…granted, it isn’t designed specifically for trading, but then, a blank note pad isn’t either.

I would love it if a trader developed a good trading journal package. One meant for a trader of all time frames. That would be excellent.

By: Michael

Michael — Mon, 29 Aug 2005 17:18:50 +0000

Seems like there’s a good opportunity for somebody to develop a good (inexpensive) trading journal package. I’d try writing one myself if I had the time.

By: The Doji Trader

The Doji Trader — Mon, 29 Aug 2005 16:26:26 +0000

I use an excel spreadsheet at the moment as well. I find it more flexible as I can experiment with my data. However I am looking to move to a software based one if any good ones exist, it would make managing the data easier.

Thanks for giving us a look at how your journal is setup as well as those links. You’ve given me some ideas to think about