Daily

Trading
Journal
This Journal
belongs to:

Name

Date of first entry

Date of last entry

Daily Trading Journal:
A Short Journal For Traders To Record Their Everyday Thoughts
And Emotions On Trading; by Bennett A. McDowell
© 2003 by Bennett A. McDowell, TradersCoach.com.
All rights reserved.

Published in the United States of America by:

TradersCoach.com
10755-F Scripps Poway Parkway, #477
San Diego, CA 92131 USA

Website: www.traderscoach.com
Phone: (858) 695-1985
Fax: (858) 695-1397
E-Mail: traderscoach@msn.com

No part of this publication may be reproduced, stored in a re-

trieval system, or transmitted in any form or by any means, elec-
tronic, mechanical, photo copying, recording or otherwise with-
out the prior written permission of TradersCoach.com.

The information in this book: Daily Trading Journal is intended

for educational purposes only. Traders are advised to do their
own research and testing to determine the validity of any trading
idea or system. Trading and investing carry a high level of risk.
Past performance does not guarantee future results.

TradersCoach.com, Bennett A. McDowell or affiliates assume no

responsibility for your success or failure in trading the markets.

Illustrations, Cover & Interior Design © 2003 Pneuma Books:

Complete Publisher’s Services. For more information, visit
www.pneumabooks.com

Printed in the United States of America

10 09 08 07 06 05 04 03 10 9 8 7 6 5 4 3 2 1

ISBN 0-9703387-4-0
 Daily
Trading
Journal
A Short Journal For Traders To
Record Their Everyday
Thoughts And Emotions On Trading

Introduction by

Bennett A. McDowell
TradersCoach.com
San Diego
 Introduction
Know
Thyself

As traders, we are destined to learn more about ourselves

with each and every trade we make — whether it is a prof-
itable trade or not. Sometimes the losing trades can teach us
the most about our own psychology, presenting a golden op-
portunity to benefit from an apparently miserable situation.

If we miss this opportunity to discover our own unique and

special psychological strengths and weaknesses through
these trading experiences we surely will struggle both emo-
tionally and financially.

With this understanding, the need for the Daily Trading

Journal becomes clear.

This is a place where you can quickly jot down thoughts and
feelings each morning and evening about your emotions.
This is not where you want to record profits and losses. It is
purely an outlet for the feelings — the good, the bad and the
ugly — that come up each and every day of trading.

n vii n
 Perception
& Reality

Is your glass half empty or half full today? Isn’t it interesting

how we can perceive identical elements in a different way
at different times? These perceptions work for us or against
us in the trading room. For that reason it is important to
maintain positive emotional energy every moment that we
are trading.

This is a challenge at times for even the most seasoned

traders, yet it probably affects the novice professionals more
severely than the veterans. The challenge of maintaining op-
timistic energy — even during sizable losses, stop-outs, and
trading errors — gets easier with time and experience. Pa-
tience is truly a virtue for traders just starting out!

How easy it is to criticize yourself when you’ve made a trad-

ing error — such as not adhering to a stop, miscalculating
charts or market information, or buying on a “hot tip” — the
list can go on.

The reality is that these “trading errors” can give enormous

insight into your personal psychology. Maybe you are sabo-
taging your own trading without realizing it. Why would
anyone do that? Well, it’s like any self-destructive behavior; it
is deep and complex and not necessarily apparent to the
naked eye.

n viii n
Do you have a sense of guilt that you have taken someone
else’s money when you’ve had a winning streak that makes
you feel you should give it back? Do you feel you don’t de-
serve to be successful — that it’s not your place in life? Do
you think trading is too easy — that you should work harder
for your money and for success? Is fear of success and the
unknown stopping you?

Whatever the core of your belief system is, you must uncov-
er it, accept it, and embrace it. Then and only then can you
change any negative belief systems into ones that are more
compassionate and supportive. The goal is to attain a pros-
perous and joyous professional life.

The self-contempt that can go hand-in-hand with negative

personal belief systems leads to denial and ultimately a vi-
cious cycle of painful behavior. Your identity is not one and
the same as your belief system. We all have the ability to
change. Like various twelve-step programs, the first step on
the road to change and recovery is to humbly admit that you
have a “problem,” or a negative belief system.

Some think the easier path is to take the victim’s standpoint.

“The market took my money!” “My clearing house gave me a
bad fill!” “That person gave me bad information!” “My trad-
ing system doesn’t work!” “My spouse is nagging at me and
stressing me out!”

Others choose to criticize themselves with the “Coulda,

Woulda, Shoulda” approach. They suffer from a constant di-
alogue of, “I’m such an idiot, I could have done this and it
would all be okay!,” “I should have done that!” or “I would
have done that if only…”

n ix n
What’s done is done. No matter how terrible you perceive
your situation to be, the reality is probably much brighter.
Believe me!

A negative state of mind makes everything seem worse. Tak-

ing it out on those around you, or the market, or yourself
does not benefit you in any way. Your account balance is
only a number. If you equate your self-worth with that num-
ber then you are operating from a negative belief system.

No matter how severe your losses are, it is crucial that you

turn them into a positive. Learn something from them. If
you don’t learn something from your trading or if you stop
trying to learn something then it truly is a loss.

On Being
Human

While we are on this earth, we are inescapably human. And

by definition, to be human is to be imperfect. That can be
very difficult to live with for some.

We all strive for perfection, or some illusion of such. But in

all honesty life is not perfect and we as humans are no ex-
ception. Instead we are “perfectly imperfect”. Accepting this
truth and believing it can be a magical and liberating key to
success as people and as traders.

nxn
Try to forgive yourself for being human. Regard your mis-
takes as a gift and a reminder that this journey is a learning
process and a work of art. Do you look at a painting or a
hand made craft as being unattractive because it reveals tex-
tures or imperfections left by the artist? Probably not, since
it is these marks that makes them one-of-a-kind, authentic
and special.

Remember this when you make a mistake in your trading.

You will have a trading experience and learning process
that is different from anyone else’s. And you will learn from
your mistakes in life. They can be your greatest teachers!

Ultimately, the purpose of the Daily Trading Journal is to

serve as a tool to help you learn something from the losses
and the gains. It’s a way to get to know yourself and help you
make your personal psychology work for you. Everyone at
TradersCoach.com wish you all the best in your trading and
your life!

Bennett A. McDowell
May 2001

n xi n
 Instructions
for using your journal

Jot down your thoughts and feelings on trading, life and

anything that comes into your mind. This should be done
first thing in the morning as you awake and after you’ve
stopped trading for the day.

KISS — keep it simple. The important thing is to write every

morning and evening. there is no need to write more than
you have room for on the journal pages provided.

n1n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n6 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n7 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n8 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n9 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 10 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 11 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 12 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 13 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 14 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 15 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 16 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 17 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 18 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 19 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 20 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 21 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 22 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 23 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 24 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 25 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 26 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 27 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 28 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 29 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 30 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 31 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 32 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 33 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 34 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 35 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 36 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 37 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 38 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 39 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 40 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 41 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 42 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 43 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 44 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 45 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 46 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 47 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 48 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 49 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 50 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 51 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 52 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 53 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 54 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 55 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 56 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 57 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 58 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 59 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 60 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 61 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 62 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 63 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 64 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 65 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 66 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 67 n
 q Monday
q Tuesday

a.m.
q Wednesday
q Thursday
q Friday
q Saturday
q Sunday

Today’s Date is:

n 68 n
 Monday q
Tuesday q

p.m.
Wednesday q
Thursday q
Friday q
Saturday q
Sunday q

Tonight’s Date is:

n 69 n
Congratulations
on completing
one journal month!

n 70 n
 Monthly Recap

You can use the following pages to recap the month’s highs
and lows. Record any themes or patterns in your psychology.

n 71 n
 Monthly Recap

n 72 n
Monthly Recap

n 73 n
 Monthly Recap

n 74 n
Monthly Recap

n 75 n
 Monthly Recap

n 76 n
Monthly Recap

n 77 n
 Monthly Recap

n 78 n
Monthly Recap

n 79 n
 Monthly Recap

n 80 n
Continue To Journal
your thoughts & emotions
on trading

By continuing to write in in the Daily Trading Journal

every morning and every evening, you can monitor and
evaluate how your emotions are affecting your trading
performance.

Feel free to use the order forms in the back of this journal to
acquire a new Daily Trading Journal for use during your
next month of trading.

n 81 n
 Bennett A. McDowell
Author of the Survival Guide for Traders
and TradersCoach.com President
 About the Author

Bennett A. McDowell worked on Wall Street with J.J. Kenny

and was a licensed stockbroker with Prudential Securities
and Morgan Stanley Dean Witter. His book, Survival Guide
For Traders helps traders set-up and organize their trading
business. Currently an active trader and registered invest-
ment advisor, he has also studied with world-class trader Bill
Williams, PhD, at the Profitunity Trading Group.

The author launched TradersCoach.com to provide straight-

forward guidance to the new generation of traders active in
the market today. Thanks to the phenomenal technology
available, trading has become an accessible profession to
anyone with the inner passion to pursue it.

As Bennett says, “The key is for traders to follow their pas-

sion and at the same time develop the skills necessary to be
consistently profitable.” By working with a trading coach
like Bennett at TradersCoach.com, it is easier for new
traders to stay focused on developing their skills.

Bennett welcomes your comments, insights, and questions

and can be reached by e-mail via traderscoach@msn.com.
Or, you can visit the website at www.traderscoach.com.

n 83 n
 Fax & Mail-In Order Form
TradersCoach.com Phone: (858) 695-1985 Fax: (858) 695-1397
Mail: 10755-F Scripps Poway Parkway; #477; San Diego, CA 92131 USA

Name:____________________________________________________________________________

Street Address:___________________________________________________________________

City:_______________________________________________________________________________

State: _________________________________________Zip: ______________________________

Country:__________________________________________________________________________

Phone: _______________________________________Fax: ______________________________

E-Mail: ___________________________________________________________________________

Credit Card #:_________________________________________Exp Date:_______________

Payment Type: (Circle One)

AMEX MasterCard Visa Check Enclosed

# of____________Daily Trading Journals

A Short Journal For Traders
To Record Their Everyday
Thoughts And Emotions On
Trading. (Journal has
enough pages for one full
month) $14.95 each.

I understand that my credit card will be

charged for the dollar amount of the item(s)
above and for any applicable sales tax. The
dollar amount above includes shipping and
handling. The selected item(s) will be deliv-
ered to me at the above designated customer address within five business
days from receipt of my order. (Outside the contiguous United States of
America item(s) will be delivered within 15 business days.) This offer
expires December 31, 2004.

Cardholder Name:______________________________________________________________

Cardholder Signature:__________________________________ Order Date:_________

BRM
order
form 1
 Fax & Mail-In Order Form
TradersCoach.com Phone: (858) 695-1985 Fax: (858) 695-1397
Mail: 10755-F Scripps Poway Parkway; #477; San Diego, CA 92131 USA

Name:____________________________________________________________________________

Street Address:___________________________________________________________________

City:_______________________________________________________________________________

State: _________________________________________Zip: ______________________________

Country:__________________________________________________________________________

Phone: _______________________________________Fax: ______________________________

E-Mail: ___________________________________________________________________________

Credit Card #:_________________________________________Exp Date:_______________

Payment Type: (Circle One)

AMEX MasterCard Visa Check Enclosed

# of____________Survival Guide For

Traders, Second Edition
How To Set-Up And
Organize Your Trading
Business. $79.95 each.

I understand that my credit card will be

charged for the dollar amount of the
item(s) above and for any applicable sales
tax. The dollar amount above includes
shipping and handling. The selected
item(s) will be delivered to me at the above
designated customer address within five
business days from receipt of my order.
(Outside the contiguous United States of America item(s) will be delivered
within 15 business days.) This offer expires December 31, 2004.

Cardholder Name:______________________________________________________________

Cardholder Signature:__________________________________ Order Date:_________

 Fax & Mail-In Order Form
TradersCoach.com Phone: (858) 695-1985 Fax: (858) 695-1397
Mail: 10755-F Scripps Poway Parkway; #477; San Diego, CA 92131 USA

First Name: _____________________Last Name: ______________________

Street Address: __________________________________________________________________

City: ______________________________________________________________________________

State:___________________________________________________Zip: ________________

Country: ________________________________________________________________________

Phone: _________________________Fax:______________________________________

E-Mail: __________________________________________________________

Get your FREE VHS,

DVD, or CD-ROM!
TradersCoach.com offers a special free pro-
gram entitled, “Trading: The Perfect Business.”
It has information on how the products and
services of TradersCoach.com can help you along on the path to trading
success. Fill out this form today to receive your FREE VHS, DVD or CD-ROM!

Circle your preferred program format:

VHS DVD CD-ROM

Circle the region where you will be using the program:

NTSC . . . . . . (The United States, Canada, Mexico, Philippines & Japan)
PAL. . . . . . . . . (Great Britain, Europe, Australia, India, Singapore & China)
SECAM. . . . . (France, Russia, Greece, Jamaica & Iran)
I understand and agree by signing below that I will not hold TradersCoach.com or any affiliates
liable in any way for services, products, or information rendered past, present, or future. I also
note that TradersCoach.com does not guarantee my success in trading the Markets and that it is
possible for me to lose money in trading the Markets. One FREE program per customer. FREE
offer expires December 31, 2004.

Signature (required):______________________________Date: ____________