A trade journal becomes much more useful when the plan is written before entry. After the trade, it is too easy to explain everything in a way that sounds smarter than the actual decision.
Before entering, I like writing the setup, invalidation, target, and reason for size. That creates a record of the real plan. After exit, I compare the result with what I planned, not with what I wish I had planned.
This makes mistakes easier to see. It also shows when a losing trade was actually well executed.
Before entering, I like writing the setup, invalidation, target, and reason for size. That creates a record of the real plan. After exit, I compare the result with what I planned, not with what I wish I had planned.
This makes mistakes easier to see. It also shows when a losing trade was actually well executed.
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