Paper Trading Journal: Why it is the best trading journal you can get.
A trading journal is not simply a tool to collect information and data about your trades. A trading journal is a tool for improvement. Indeed, if you don't have a budget for a trading coach, it is very likely that it is the only tool you will have to work on yourself and improve. This is why a software will not help you.
And this is why a paper trading journal is for traders that have been in the game long enough to understand what truly is trading about: you against you. It is a mindset.
A paper trading journal is for those that understand what is the trading mindset they have to have in order to succeed. For those that understand, spending more time on the new cool software instead of working on themselves will not help. Being glued to a screen is in total opposition with being able to think clearly, objectively and to make good rational decisions. A paper trading journal will absolutely make the work, especially if it is a guided trading journal like Edge Journal.
As said by the legend of self development Jim Rohn himself :
"Being able to make good decisions on paper is a sure way, of making good decisions in practice".
This lay in the fact that writing is a truly magical act that allows your brain to think more clearly and more objectively.
Buying a membership to the last coolest "data collector" software will make you look like the million dollar trader you want to be on social media, but the truth is that it will only put more weight on your shoulder with another monthly subscription.
If you don't work on yourself, you will do the same mistakes on the markets over and over and over again.
Edge journal is a guided paper trading journal that will make you check if the setup you are looking for correspond to your trading plan and will make you step up in the game through systematic feedbacks and review.