We'll start by saying this…
Mark up your trading journal screenshots in the way that works best for you. We aren't saying that this is the only way to put notes on your chart.
But this is the method that we have found most effective and will allow you to easily review your charts later, for practice and analysis.
Begin with the End in Mind
There are three things that chart screenshots are good for:
- Reviewing your trades to see if you could have done better
- Optimizing your strategies
- Practicing ideal setups
With that in mind, you should keep your charts as clean as possible, while including all of the basic information to understand exactly what you did on every trade.
Here's what to consider…
Skip the Words
Words on a chart can muddy up the charts and even hide important price action or indicator information.
Save the written explanation for the text box in each trading journal entry. This will allow you to explain things in more depth and keep your charts clean.
Include All Key Elements
There are 5 key elements that should be marked on every trading journal chart:
- Entry price
- Stop loss
- Take profit (if applicable)
- Entry candle
- Levels and indicators
You should also include other timeframes, if you use multi-timeframe analysis.
We like to use the following notation on our charts:
- Entry price: Blue horizontal line
- Stop loss: Red horizontal line
- Take profit (if applicable): Green horizontal line
- Entry candle: Up or down triangle, allowing us to see long or short at a glance
Here's an example of a screenshot using TradingView…
As you can see, this makes it super easy to understand exactly where you took the trade, your stop loss and take profit.
You will appreciate this simplicity when you review your charts later.
Finally, regardless of how you mark your charts, it's very helpful to be consistent.
When you use our Flash Cards module, using the same type of notation will make it easier to analyze your charts.
If you have to constantly think about what a chart is telling you, that can tire you out really quickly.
Keep it simple and consistent.
That's the simplest way that we know of to add notes to your trading journal chart screenshots.
Most trading/charting platforms have a screenshot function that allows you to easily take screenshots. Just mark your levels on the chart and take a screenshot.
It also helps to keep the levels on your chart until you are done with your final trade review.
To learn more about RazorJournal take the tour here.