Going back to documenting trades

A year or so ago I was documenting all my trades in a journal. Noting what the charts looked like, why I got in, reasons to get out.

Then I was doing so well with my trades that I felt I didn’t need to take that time and I got out of the habit of using a trade journal.

Well now I need to go back to thinking about my trades. Just trying a bunch of strategies without thinking them through or following up on rules is not getting me anywhere.

My current strategy is longer term (6-12 months for options) and sitting on my hands during minor fluctuations. But I haven’t really thought through what would be a minor fluctuation and what would be cause to get out.

So I’m going to go through the trades I have open and document why I got in and what should cause me to get out.

I started with my best trade, a penny stock, but will go through them all penny stocks and options.

Here is the journal page for a penny stock, BEE, that has been doing really well for me.

Posted in: penny stock, stock market, technicals, trade journal