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Vince-
I do have quite an elaborate plan and it is written
down in 15 pages describing each setup and what market
dynamics to look for... overall
system design, core logic, etc..
I find it helps me to keep things into perspective.
Market dynamics change, I want to clearly and
methodically track them as best I can and make
appropriate changes where necessary. Paper, adds some
structure to my otherwise chaotic thoughts.
Moreover, I under the mentorship of an individual for
a year's time, was required to keep a journal and
right down the setups, market conditions
worthy of note as they pertained to the system, etc..
each and everyday I did this for a year. It was
probably the singular most important thing I could
have done for my trading education during that time
period.
Nowadays, I simply put the setup number and entry and
exit into my spreadsheet. No more writing of copious
notes, that is a level I've moved beyond.
Share this with anybody? Why?
It would be of no use to another. Everybody needs to
come up with there own methodology. For me I had none
a year ago, so anything was better than nothing.
However, what I've realized is so true when it comes
to people in different lines of work, trading in
particular, you can educate someone only so far, then
they need to go the rest of the way on their own.
The books you've read might mention how it is the BEST
thing to have a journal, have a plan, yada yada..
Again, I agree if you have nothing, then thats a good
starting point.
Your very statement: >>Curious, is it not, that none
of the experts provide an example of even a single
good trading journal?<<
Proves my point precisely, that is to say that you
don't consider *most* to be good.
Why is that? Because your operational definition of
"good" is filtered by what you consider the paradigm.
Basically, whatever, works for you is going to be the
best thing for you. not saying you can't pick up good
things from others.
Ultimately, however, you alone need to come up with
the best fit. Wouldn't you agree?
best-
mike
--- "david b. stanley" <davestan@xxxxxxxxxx> wrote:
> This idea doesn't make much sense to me.
> If you can write it down, then it's already in your
> head.
> Why does it need to be on paper?
> Do you imagine yourself ever going back and reading
> it?
>
> Anything I don't care to maintain in my cranium is
> programmed
> into my system code.
>
> Vince Heiker wrote:
>
> > 1. Trading Journal.
> >
> > Many trading experts state that a trader needs to
> maintain, review, study
> > his/her own trading journal, implying that without
> such, a trader will
> > lose...because s/he will not learn from his/her
> mistakes.
> >
> > Curious, is it not, that none of the experts
> provide an example of even a
> > single good trading journal? There is not a single
> good one among my 400+
> > trading books and 100+ trading videos, nor years
> of trading magazine issues,
> > nor at any trading Expo's or seminars or local
> trading group meetings that
> > I've attended.
> >
> > Occasionally I correspond with very well known
> trading book authors and
> > seminar providers. I challenge some, politely, to
> provide me with just one
> > decent design or example. None have.
> >
> > The best trading journal I've seen, is at the
> website of another trader, who
> > has been trading only about 2 years, if memory
> serves. Isn't that also odd,
> > that a non-expert can put good thought into this,
> not only design but also
> > use and bravely post his trading journal for all
> to see - yet not one expert
> > can do so?
> >
> > 2. Trading plans.
> >
> > Can't win without a good trading plan...according
> to many trading experts -
> > none of whom (see trading journal comments above)
> can show even one good
> > example.
> >
> > What constitutes a good trading plan?
> >
> > Anyone here ever seen one, other than brief
> outlines in books about what one
> > should contain?
> >
> > Is it a portion of a full-blown business plan? Is
> a full business plan an
> > important critical success factor? If so, what is
> a full business plan for a
> > trader?
> >
> > There are plenty of books at Amazon and elsewhere
> about business plans, and
> > many good examples...but is one really necessary?
> Is creating and
> > maintaining a good business plan, worth the
> considerable effort that it
> > takes for a trader? If so, why?
> >
> > Back to just the trading plan portion itself. What
> is it? Just a list of
> > trading rules, of do's and don't's?
> >
> > Inquiring trading minds want to know...so why can
> no trading experts provide
> > good designs and good examples?
> >
> > If anyone herein knows of a book, seminar, tape,
> web site, etc., where there
> > is a good trading plan, design, please share it
> with us. If you have a good
> > one of your own, can you at least share the design
> of it with us, if not
> > much of the plan itself?
> >
> > Vince Heiker
> > Flower Mound, Texas
>
>
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