Where does your trading need to improve?

Here’s how to know…                                                                                                                                                                      Good Morning! If you’re lost and don’t know how you’re doing after the first week of 2023 trading — you’re missing a critical component to success… It doesn’t matter where you are in your trading journey, you must know what’s working and what’s not. And thinking and knowing are two different things… Thinking you’re good at trading one setup because you had one good trade doesn’t give you all the facts. That’s why you need data — it doesn’t lie... And once you know where you stand, you can make adjustments to get better. So today I’ll give you tips on [how to track your trades]( and what to track. Plus, I’ll give you an example of how journaling is an essential companion to your data tracking. How to Track Trades Everyone’s trade tracking spreadsheet will look different. Because they should be unique to [your own style]( and [trade setups](. If you trade breakouts, you won’t track the same information as someone who shorts the first red day. So think about [what you need to include]( to get the most accurate information that can help you improve. [Click here to see Micheal Goode’s tips for tracking your trades](. Some basics all traders can include are: - Ticker symbol - The date - [Sector]( - The stock’s float - Is it a long or short trade? - Your position size - The stock’s catalyst - Your entry - Your risk or [stop]( - Exit - Result — [profit or loss]( From there you can add your own individual items. Like the specific setup you traded, the idea behind your trade, and any other notes you want to add. See how the GOAT, Tim Grittani, develops his [spreadsheets for tracking setups here](. Some people like to track their trades and journal in the same document or spreadsheet. But there’s nothing wrong with keeping them separate. What to Write in Your Trading Journal I like to think of a [trading journal]( as being more about your thoughts, feelings, and [emotions]( while in a trade ... Or even at the end of the day. The tracking spreadsheet is cold hard data. While your journal will be more like your personal review and thoughts. Record things like: - What worked that day? - Why did it work or not work? - Were you revenge trading after a loss? - Did you hold past your stop? Journaling can be an eye-opening experience. Because the data might show you're losing more than winning, but your journal might give you the answers to why that’s happening… If you’re writing that you were nervous about a trade, ask yourself why? Was your position size too big so you sold for a loss before your stop? Meanwhile, the trade would’ve worked… Or do you take profits too quickly because you don't want to turn a winner into a loser? Then your losses end up being bigger than your wins. All of these things can help you [adapt]( what you're doing to find the right sweet spot for you. [SteadyTrade Team]( members can [watch my in-depth webinar on trade tracking here](. If you really want to kick-start your trading in the right direction — focus on your education and [learning from successful traders](. But don’t get caught up trying to copy or compare yourself to others. Use your spreadsheets and journal to find out what’s working for you and where you need to improve and then focus on that! Have a great day everyone! See you back here tomorrow. Tim Bohen Lead Trainer, StocksToTrade   sponsored   sponsored   [What’s the difference between you and millionaire trader, Matt Monaco?]( Every morning, Matt has access to a powerful suite of features to quickly find actionable trades- without spending hours researching. In fact, using these tools he is even able to find & make trades in under 1 minute! [>> CLICK HERE TO SEE HOW <<]( Recommended Membership Gifts   ACCESS NOW: Click to activate these complimentary membership gifts and receive daily market intel. [To The Moon Report Weekly Stock & Crypto Watchlist]( [Mark Croock Evolved Trader Daily](   [Facebook]( [Twitter]( [Instagram]( [YouTube]( [Spotify]( [Click Here to Unsubscribe]( (As an Amazon Associate, we earn from qualifying purchases.) 13809 Research Boulevard, Suite 500, Austin, TX 78750 *Please note that these kinds of trading results are not typical. Most traders lose money. It takes years of dedication, hard work, and discipline to learn how to trade, and individual results will vary. Trading is inherently risky. Before making any trades, remember to do your due diligence and never risk more than you can afford to lose. This is for informational purposes only as StocksToTrade is not registered as a securities broker-dealer or an investment adviser. 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