I talk often about how important it is to journal. Another aspect of journaling is what I call the long-term journal. Don’t expect yourself to remember everything all the time. Instead, I suggest creating a system or “journal” that contains long-term notes and things you want to remember.
I bring this up because in my long-term journal I placed this week. I noted how this week was a strong MOMENTUM LONG week. How at every pullback the buyers just couldn’t be stopped. I also noted and tagged (I use EverNote), that this what I call a LONG test week.
How this pays off…
If in the future I want to see how an indicator, the system, or a change in the system, or anything really behaves in what I’d consider outside the norm momentum long week I know exactly where to go. I don’t have to search my memory or even look at charts.
This is key. Many traders don’t look at what they do as building systems upon systems. They don’t look at what they do and find ways they can not only consistently improve efficiency but also create their own knowledge base they can call upon.
This also has the side benefit of helping you focus and think about the market and you’re trading from a higher level.
That is where tools like Evernote do really shine. If you spend a little of time planning and properly tagging you’ll come to appreciate and benefit from every trading session even more.
It is these little and consistent things you do with your trading journey that pay dividends well into your future.