If your trading style is such that you enter one position, but have multiple exits, then this tutorial will show you how to update your journal.
First, consider setting up each of your exits as separate trading strategies. Let's say that you have a trading strategy called the Moving Average Crossover.
This strategy involves 2 exits. So you would setup 2 separate trading strategies:
- Moving Average Crossover T1 (target 1)
- Moving Average Crossover T2 (target 2)
Journaling your exits separately allows you to analyze each exit individually. If you analyze the trades as one trade (which other journals do), then you might miss out on an opportunity to optimize each target.
You can list them under the same strategy if you want, but we recommend breaking them out.
Next, journal your entry normally. Don't check the Journal Entry Complete box…yet.
When you exit part of your position, journal the results.
Then click on the C button to copy the trade.
When you exit the next part of your trade, then change the details of the copied trade to match the results of your second trade. Be sure to change the Trading Strategy field to track the second exit, if you are using multiple trading strategies to track your exits.
Keep doing this for any other partial exits.
If you find that your open trades are hard to find in your list, check the Show Not Done box at the top of the screen to only show trades where the Journal Entry Complete box is not checked yet.
One your trade has been completely closed out, then check the Journal Entry Complete box on each trade.
If you have any more questions, feel free to contact us.