How to Improve Your Stock Picking Results with Journaling

By Greg Schnell, Lita Epstein

Part of Stock Charts For Dummies Cheat Sheet

Picking the right stocks is the goal of every stock chart user. You can improve your stock picking results by tracking these key items in a journal:

  • Keep track of your winners and losers.
  • Analyze each trade to track what you did wrong and what you did right. You can use the information to repeat your successes. You can also use the information to hopefully avoid making the same error in the future.
  • Keep buying winners. After you discover a strategy for finding and buying winners, keep notes and continue to improve on your decision-making strategies.
  • Stop holding losers. Analyze a losing trade and get out before it becomes an even bigger loser.
  • Keep more of your winners. With charting and a good understanding of trends, you can feel more confident about when to hold and when to sell your winners.