Tracking Trades With a Trading Journal | Getting Started with Stock Investing

[Music] well good afternoon everyone welcome to our webcast on excuse me getting started with stock investing i'm connie hill i'm happy that you would join me here today whether you're here live and in person or whether you're joining us in an archived webcast now how many of you have developed maybe some routines to help you stay on top of all the things you're doing with your trading and your investing if you have i commend you for that those of you that are starting in the markets which this class is geared towards might not be at that point yet and so today i'm going to help you talk about things you want to do maybe weekly monthly and quarterly to stay on top of things so i'm going to try to help you get organized here today i am joined in the chat by my good friend john mcnichol who is also a fellow coach and very knowledgeable he's been in the markets a long time he's here to help answer questions so if you have them go ahead and chat them in and between john and myself we'll hope to get you covered now i am on twitter i'm at chill underscore tda john is at j mcnichol underscore tda and we'll post educational content throughout the day things that you probably don't want to miss out on little tidbits that we can help you out with so i'm going to encourage you to do that what we talked about today is intended for educational and informational purposes only it's not intended as investment advice or a recommendation of any security strategy or account type stock markets are volatile and can decline significantly in response to adverse issuer political regulatory market or economic developments the risk of loss in trading can be substantial well this webcast discusses technical analysis there are other approaches including fundamental analysis that may assert very different views past performance of any security strategy does not guarantee future results or success all investing involves risk including the risk of loss uh wiley says hey daily yeah we're going to talk about things you can do daily absolutely so let's take a look at it here real quick well actually before we do that uh we have been following a series over the last several weeks some of you may have been here for it some of you might not if you haven't that's okay we're going to start over again next week today's lesson actually is not one of these seven it's a kind of a bonus lesson i'm gonna call it and so uh we will last week we did putting it all together we went through every single step of what we've been studying over the past few weeks and just kind of did it in one consecutive class or one class following all those steps consecutively and like i said next week we'll start over today however get that there uh let me show you what our agenda is going to be like i want to talk about daily routines in fact we're probably going to spend the most time on daily routines because there's quite a bit there we're going to talk about i always want to do a sample trade with you in our class so you get the idea of how the thinkers one platform works but i also today want to teach you how to put it in a trading journal sometimes you might hear about trading journals but not necessarily have figured it out so we're going to spend some time there then we'll talk about some weekly routines and then maybe some potential monthly and quarterly routines all right so you're ready to get organized here i am ready to organize you let's jump over here we're going to start out on think or swim and uh these are not necessarily in any particular order you can do these in any order you might choose to well what i've got here is the vix i apologize there was a terrible tickle there the volatility index have you guys been tracking this it's not necessarily something that we've talked about in our classes but it is something that you may have heard about in other classes this represents what's called the volatility index the vix which really is measuring uncertainty in the market concerns in the market technically what it's graphing is the put call ratio some of you might not really understand what that means basically it's some options calls and puts options kind of the ratio of calls versus puts because when people are concerned and they want protection or or they're trying to play the downside of the market they're more likely to be buying puts instead of calls and so when this number gets up high that lets us know oh people are concerned lots of put buying is taking place if you were to compare it and so you want to keep track of that now the question might be what is normal all right yeah what is normal i'm going to give you some perspective here we're going to go to let's just go to a three-year chart here and i want you to see some extremes so something that might be considered low might be over here three years ago in 2019 [Music] were in 11 12 when it ran up what it got as high as maybe about 21 or something like that that was not very volatile then we had covet hit right you guys know that what happened when covet hit man the vix ran up the chart so quickly we had huge volatility move into the to the markets and so it got up really high in fact i think this is its all-time high here at 85.47 so that is super high in fact it went higher here than it did when we had uh the 2008 market pullback caused us to go into a recession so as you look at it here you might be going well it doesn't look nearly so scary as it did there and you're absolutely right but i'm going to zoom in here and just give us a little bit further look here so when these numbers are higher and i've got some circles on them that gives you the idea hey we've got some volatility going on in the markets and we're we have been creeping up in that range almost this whole year we've been up there fairly high now if we look at this and just say hey what's going on right now let's go to say six months on a six-month chart we can see yeah today we're up at 31. earlier this week we were up as high as 35 so yeah we're still seeing quite a bit of volatility in the market and it could be extreme moves up could be extreme moves down more often than not what we've been seeing the past several days have been moves down on the market when we see the volatility index high what are we likely to be doing or likely to be seen when we look at spx like the s p 500 what are we likely to be seeing we're likely to be seeing bearishness and i'm not going to do it but you can put both of these on a graph and compare them and you'll see they have an inverse relationship and it's not every tick of the of the timer in a in a given day but generally what you're going to see is overall trends that when volatility is high right if volatility runs high the market runs low and so they have this inverse relationship even though they don't move percentage-wise the same amount now today markets were up a little bit initially pre-market things were up uh then i saw him go down at least on the sp s p 500 and on the nasdaq and then right now it's kind of back pretty close to where it started the s p it looks like it's down a whole .06 percent so pretty flat so right now it's in that range where um the opening price and the closing price although isn't really a price of the spx that level it is staying right there okay so a couple things there we talked about the volatility index take a look at what's going on daily you don't have to live on that page but then also look what the overall markets are doing i remember as younger trader one of the things that i didn't realize i needed to pay as good of attention to were things like the vix as well as the overall markets i just kind of had some tunnel vision i was looking at my stocks man i was keeping really good tabs on it but really you've got to see what the overall market is doing as well so that you can put that in context what you're seeing all right let's take a look over at some of the tools think or swim his i'm going to send you over here to the market watch and we're going to see what the market looks like today i'm going to pull up open up here the indices some of you have seen this if you've been coming to my exploring think or swim we're getting started with think or swim class that ken rose teaches on thursdays at five eastern you will probably have seen what this heat map is now i'm going to go to the s p 500 it's a good gauge for the overall market if we see green on the chart this is representing the s p 500 then we've got a little bit more bullishness in the market if we've got more red on the chart then we're seeing a little bit more bearishness in the market and it's going to show us by individual stocks so here's a couple of obvious ones microsoft and apple they're both in the green that means they're bullish today looks like microsoft's up 0.7 so it's not super up but it is up a little bit enough to taint it green the the darker the color the more it is that direction so for example the greenest thing i see here is en ph and it looks like it's up 6.22 percent now the bigger the box the bigger the market size of that particular stock now i'm going to point out something else here that you'll notice and that is these are grouped together by their sectors okay so information technology right here pretty much are these stocks kind of in this quadrant and then what's struggling today now this is pretty stilling right oil and energy has been on just this rampage and then this week more recently the crude oil maybe demand uh international demand is starting to drop a little bit and so crude oil prices are dropping that's causing a lot of the oil stocks to pull back it doesn't mean their trend has totally changed maybe in some instances it has but doing something like this like bringing up the heat map can just give you at a glance a quick look at as far as what the markets are doing i like to look at the indices at least once a day you might even do it with your watch list because these are these are just the the uh indices here and then we've got the public watch list the thinker swim is created and you can bring up your personal watch list and i'm just going to go grab one here uh randomly okay whatever that watch list was those are the stocks on it and you can see at a glance hey what are my positions doing what are they looking like okay and just a really quick glance that can be one way to do that all right next item you want to make sure you're looking at your positions those of you that are investors more than traders might make sure you do this at least once a week if you're not an active trader if you're an active trader and when i say active meaning you might be doing some additional option strategies you might be doing swing trades anything like that you want to make sure that you're staying up on it okay and so we're going to look at a couple of things here now these are just some sample trades i've done in other classes and some of them didn't really have a real meaning we did it for the purpose of the class but we weren't doing any specific follow-up with it so that's what we're going to use for our examples here now i'm going to pull up as a position here and it is ctra maybe i just collapsed that it might have been in the unallocated let's come down here oh where did there it is it was really up here in the sample trades all right here's our ctra you're going to see here it has a zero quantity and you might go well why does it have zero quantity and it's still sitting out in the activity and positions page well guess what just barely before our class started i was going to use this for to show you something else but i think we got stopped out of the trade if we come up here to our field orders and here's our ctra yep looks like it closed us out it was a stop loss order we got filled at 26.89

we'll use something else to to determine maybe if we should adjust it or not but one thing you want to do is look at your positions every day sometimes it's helpful to come over here on the left instead of looking at the nasdaq bring up current account positions and just go down a chart with them okay and just see gee is there anything you need to pay attention to make sure they have stop losses in place some of these don't because these were just sample trades so if there are any stop losses in place and you feel like i should adjust them or after you've looked at the market and you think whatever that outlook is whether you're bearish or bullish on the market that'll be a filter for you to determine what should i be doing with these individual positions so here here's one ar looks like it doesn't have a stop on it it may have uh at a different time for another purpose but as you look at this does that look like something that maybe has broken support we've talked about potential exits as being breaks of support or breaks through moving average does it look to you like it's broken some support let's draw a couple of lines here i've got this line here we had some old resistance at 37 and then it went above it and then once it passed past here it really hasn't created a nice new support level it's kind of like it ran up and now it's pulling back in fact it's pulling back even a little bit lower than it did on this day now i would put in here i would say let's extend this to the right because maybe we expect old resistance to act as new supports and sometimes it does and sometimes it doesn't but at the hot we've got a high up there of 48.80 and now it's clear down to 34.16 do you think this is something you would want to stay in for with your own personal traits with your own personal trading rules would you stay in it some of you might look at that and go oh my goodness i should have put i should have put in a stop i should have followed it i'm going to extend this one to the right as well and you might say ah we should be out of it then the other point of view here is somebody may say let's make lemonade out of our lemons yeah i lost track of it i shouldn't have but maybe you see that it's down at the next support level here and you think well if i want to make lemonade out of my lemons let me give it the opportunity to maybe bounce up because many times that's what stocks do as they bounce up and i know we're looking for the overall markets to give us a reversal it really hasn't been that clear on it yet has it yeah it's been a little bit difficult so if somebody wanted to say hey let's put in a stop list down or stop loss down here uh three percent below support maybe they'd do that there might be some people that say hey we shouldn't even be in here anymore let's get out okay that's the kind of decision making i want you to make with all of your positions and so that's why it's handy to say current account and just go down position by position by position and determine something from it now this particular one uh he was up there 24 almost 25 looks like it's back down to 18 and some change we've got a stop loss clear down here is that doing us any good yeah if if it uh if you forgot to move it you've got to take action with it but by looking at these charts every day that's how you don't find these problems or you try to minimize those problems okay in the case of these these weren't really trades we're actively watching but that's what you would want to do all right next thing you want to do is review for entry signals now there may be some of you that are like connie we just looked at the s p 500 and it's been bearish and the nasdaq's been bearish why would we get into any positions now as newer traders you might not know yet strategies that you can do in a bearish market or a sideways market when we start you out with stocks we're teaching you how to work in a bullish environment right and so sometimes you may find yourself in a situation if you don't have any reason to be bullish as you look at charts and you look at volatility sometimes you might sit in cash you don't have to i don't i wouldn't want you to have fomo and act just because oh i'm going to be missing out if you don't have a reliable plan to go to now after you're feeling more comfortable with stocks some people will move on to options and it's in the options you're going to learn some other strategies that you can use in sideways and in bearish markets alright so the next thing you might do is look through potential entry signals of stocks that you may have that you think are bullish or staying bullish now there's not a whole lot of these on around right now but i am going to show you one i'm going to show you this one here we're going to do dq and it's not a dairy stock although it always makes me think of dairy queen so here's our not dairy queen stock this is a dako new energy this is the stock that's done pretty well as far as keeping a nice uptrend it pulled back here recently but what are we seeing it do for us right now those of you that know some potential entry signals that we've talked about we've talked about bounces off support bounces off a moving average looking for a breakout of a flag pattern looking for a close above the high of the low day do you see any of those going on in this chart right now now some of you might say i'm just not going to trade anything because the market has been bearish i don't care if i see a bullish stock and that's understandable okay but because i want you to have experience in some of these areas we're going to be forceful in in doing something that looks bullish all right so what do you see here some of you may have chatted that in i know there's a little bit of a delay from the time that i speak it until you can type it and i get it back but if you were thinking here my goodness connie that looks like a nice flag pattern let's let's take a look here now some people might start it from here from this green candle i'm going to actually start up from here because overall these are bullish candles even though they're colored red they're still going a little bit higher so i would start at the bottom of that candle i would draw to the peak here that's 6706 that would represent our flag pole that sharp vertical move up and then we have a pullback two to five days is ideal how many days did we get in this pullback looks like one two three four five six seven days some days goes a little bit longer right so there this is our flag and what are we seeing today we're seeing two possible things one if this stays here by the end of the day we would consider it a flag breakout some of you might look at that also and say it looks like it's a close above the high of the low day so remember in this pullback we look for the candle that goes down the lowest that looks like it was yesterday's candle we look for what the high was yesterday that looks to be 56.78

and earlier the stock was above 57.78 right now it's dropped a couple of pennies below that okay some people might make an entry based on a move above the high of this low candle day some might want to wait for a close now we're not going to be together for the close today so we're going to take some action on it right now we're going to make a trade on this and then i'm going to show you what to do with that information as far as a trading journal goes so let's go ahead let's bring out a couple of details here we're going to need our calculator and i want my scratch pad for a minute here as i do so if this is the kind of information you're looking for and you're learning a lot from make sure you subscribe to our trader talks and investor insights youtube channels there are two separate ones this particular class is on the investor insights the trader talks is a little bit more active trading and so we have several classes including some option classes that are on that trader talk channel okay but if you subscribe then what you'll see you'll get to see those classes you'll even get to see some things we haven't published or that don't have a place out on the td ameritrade website per se but we do have a class for it out in our youtube channel so that's helpful to you so it doesn't cost you anything in fact right now if you wanted to subscribe you could go to the bottom right hand corner of your screen you're going to see a little icon there kind of looks like an old-fashioned tv with the play button you click on that that will help you subscribe to the channel alright now another reason we need this i need somewhere to write but in this class we position size we kind of went through a review of that last week in our trades we did but we are assuming in our class that we have 150 portfolio we don't want to risk more than a half a percent and on any trade that's our intent and so we say okay our limit is going to be 750 we don't want to lose any more than that if we can help it now here if we're going to do an entry on this stock we're also going to plan the exit and with a flag breakout if the price comes back into this flag area it would mean it's a false breakout okay and we would want to exit the trade if we got in on what we thought was a strong breakout and so i'm just going to put my mouse down in here if you just were to come back down to maybe the bottom of this flag area maybe about 51 is where we might want to consider putting a stop loss so i'm going to put in here we've got our stop at 51 and then let's figure our risk we're going to take the price of the stock right now minus 51 that'll make our math be a little easy here right and so we'll have essentially six dollars and 89 cents worth of risk okay simply just take whatever the price is trading at right now the we know would get in somewhere close to that minus where we say hey this is wrong there's a problem that gives us our 689 so here we're going to just say all right 750 portfolio risk divide that by 689 of position risk says we could buy 108 shares of this stock and not exceed our our tolerance for um buying too many positions we want to make sure that we're just being methodical about it going through the process so we can do 108 shares so let's come over here to the trade tab we're going to put in we're going to do our right mouse click we're going to say buy custom with stop we're going to put it in here for 108 shares and i'm going to click on that link so that we get quantity equal here we set our stop loss we would want to put at 51 dollars and then we always want to make this stop loss good till cancelled now remember on this if it gets to 51 or lower it's going to trigger a market order market order says get me out at the next available price we don't know what that is is it hopefully it's close to 51 but it's never guaranteed to be 51. all right this is our trade information uh so let's go ahead and put it in looks like we're going to get the stock maybe let's let's uh unclick that maybe at about 58.08 let's see what comes through for us uh oh we got 58 bucks nice we got a little bit cheaper somebody must have had a market editor out there that they matched us up with so they did a little bit better for us oh the price is dropping that's maybe a little bit why maybe it's between the two all right trading journals how many of you up to this point have figured out how to keep a trading journal if so i want you to chat in i'm interested and i'm also interested if you just kind of joining us here for the first time today for our webcast i'd like you to let us know that as well let us give you a friendly hello but i'm curious if any of you have started doing this i'm going to show you where you can find a trading journal i'm going to come over here to the td ameritrade website basically go ahead and log in and then you'll come up here to education well let me log in again going to go to education you're going to go to webcasts hopefully you're used to that step and knowing hey that's what you're going to do yeah it's trying to work with us all right here it comes here's our webcast and for our purposes we're going to have to scroll down pretty close to the bottom to find the trading journal it's listed here with a couple of classes now the first one i passed it is short verticals uh there's a classic i believe it's um i think it's mike fairborne that teach no it's not it's kenrose that teaches that class short verticals and so the trading journal can be used with anything okay he just uses it a lot in that class so we've put the link there you click on it and it'll want to bring it up i've kind of sized mine a little bit already so i want to use what i sized and when you bring it up this is what it looks like it'll start out here this page important information you'll just want to read through it because it gives you some important information as it says and then it gives you some instructions on how to use the trading journal and as you go down then it's going to give you some samples okay how might you blog stock purchases those of you that are getting into auction then it shows you how to log some of those option positions okay so it gives you kind of some hands-on how do you do this and then some people maybe if you're just for example in this class many of you are just learning how to trade stock great maybe that is all you are tracking right now you can call a strategy one you can call whatever you want and let's make this just a little bit easier to see now something that some traders like to do is when they initiate a trade they want to update the trading journal that could happen on a daily basis maybe for you you're not a frequent trader so maybe it only happens on a weekly basis maybe you have two entries during the week okay you can do it daily or weekly whatever your preference is but let's use this trade that we just got into as an example over here on this side is where you put in the information when you buy it over here on the right is where you put information when you sell it we haven't sold it yet so we're just going to put in the information for initial purchase so we're going to put in today's date june 17th ticker symbol was let's see what did we decide to use we use dq dairy queen it's not truly dairy queen we're not doing contracts because we're not doing options but we are doing shares we said we did a 108 shares and i just remember back if you need to go back to the field orders to look at this uh this fill this at now i have to remember what did it fill us at it filled us at i think it was 58 even we can come over here to our filled orders and the price yeah sure enough it was 58. so we'll go back we'll plug that

into our journal 58. and then if there's a commission you put in the commission and it totals everything up for you i'm not sure why it's giving me that error message in any case it's gone all right so it calculates it for you when you sell then you'll come in and fill in the other side so let's go to a month to the future let's go to july 17th okay we're just pretending again we have 108 shares or if you didn't sell all of them maybe only sold part of them put in that partial amount okay whatever it is and then let's suppose here we're going to be optimistic we're going to say we get out at 125. these are just numbers out of the air put any commissions if you have any and it should total over here that's why it gave me an error something's funky it's not calculating right here on this total it should be calculating there let me just come back here let me just cancel that 0. there we go didn't like

the zero i put in the contracts i didn't see that all right now it totaled us for us then in the the far right hand columns you get a total gain and a total loss now that total loss doesn't look quite right let me put in minus 125 no that's not right either i apologize for this demonstration it's not going so good is it uh i'll have to get back to you on why that is calculating as 115 um if we had gain in the price of the stock let's just do this real quick from uh 58 oh that's white that is right i i goofed our our share price was 58 and we've more than doubled it so yeah it is 115 i was thinking something erroneously there okay it is working oh that makes me feel better leslie who's done a spreadsheet matt has um elizabeth says i have started but i need help that's okay that's great you practice with it right you practice putting in your paper trades in here now why do some people keep a trading journal why do they even care you might have reasons that you care one of the things you're going to learn as you start trading is there and especially this is especially true as you get into something beyond just buying a stock and maybe trend trading it or buying a stock and holding it forever and forgetting about it okay as you start doing specific strategies you want to know how successful you are at those strategies so if you wanted to do some swing trading with your short-term trades maybe you do a different tab for short-term trades so you can see how well you're doing at this strategy there's some some fields up here that will track for you how well the portfolio is doing you can put in a beginning balance here i'd put in our 150 for our class that's kind of the sample size we're working with and if you have additional deposits you stick them in there maybe we deposited the five thousand dollars whatever the case may be it'll just continuously track all of this information for us all right those of you that are option traders you may be interested in doing a separate tab here if you're doing a lot of vertical trades this top section is quite a bit different we're not going to get into it because we're not really doing option trades in this particular class but i do want to point that out to you but as you get into option trades some of them you're going to do better at than others and if you have a record here that says oh you're you're trading more profitably when you do credit spreads versus debit spreads you might want to know that or maybe you're not very good at swing trades because you can't see the market all that often when you have those numbers in front of you then you can make sense of them all right but if you don't track them obviously think or swim is doing the mechanical process for you but if you're not tracking them you really don't know what you're doing well at and what you're not doing well at okay so besides tracking those in a journal you want to evaluate them how often do you want to evaluate maybe weekly if you're doing a ton of trading and especially a ton of option trading you might do it more frequently than that maybe you do it at the end of the day but at least once a week either do you give an update to your spreadsheet or log your trades in there pay attention to it now another thing you might want to do weekly is see what sectors are in favor which ones aren't we're going to go back to td ameritrade for this and we're going to just come back to this screen you may be familiar with this if you go to research and ideas come down to sectors and industries this is actually a really nice tool come over here to the td market monitor click on that box and it's going to bring something up for us now the default view as far as performance that it's looking at is today today's a little microscopic okay and yes the s p is up a little bit but let's maybe change our time frame here on the right let's just go over the last month what sectors have performed the best in the last month well it's hard to say what sectors have done well uh because some of them just haven't i mean for a long time energy a long time meaning the past few months okay maybe since the beginning of the year the energy sector has done quite well in the last month it really hasn't it's been the worst performer now all of these are negative okay so there's not one sector right now in the last month that's positive is that good information for you to know absolutely health care seems to be the one that's getting the least amount of punishment by followed by financials and then real estate these little squares in here tell you what the different companies are so i'm going to come up here to this very first green box catalent looks like it is in the last 30 days up 1.93 percent it's not huge it's a small box because it's a small company it's market cap isn't very big but you can come in here and see you could say well okay if energy is doing really bad what is the biggest loser okay what's the biggest loser down here uh in the last month looks like philip 66 but i know part of the month was running up and so right now yeah we're really seeing the pullback having knowing what sectors are doing better to go fishing in or if you're an options trader and you want to do some bearish strategies knowing which sectors a week can be really helpful because you can start guiding your searches that you do in there i'm just gonna take a quick look at the chat here so i think this is what jack i think this is what you're you're saying that you've used this trading journal you've done some modifications for on it which is great it's not totally locked down so you can do some changes with it and you said that you like your modified vertical spreadsheet so i don't know if jack you did that on your own or if you maybe took this trading journal as an as an example and did some things with it you can give us clarification i'm glad to see that it sounds like you are entrenched in this which is perfect we like to see it that way uh if you are uncertain about how to use how to find the strong industry groups there was a class on may 27th taught usually it's something that i teach but ken rose taught it for me that day on identifying sector strength and so you may want to go out and look at that in my description when i go through and do my post-production work i'll go ahead and i'll put a link to this and our previous recent previous classes i'll put that in the description it'll make it really easy for you to find we'll put a description there with it so you know oh this is the one on identifying sector strength and sector rotation uh my sense is there a way to add comments in the journal yes there is but you got to be careful where you put the comment you don't want to put the comment on any of these fields that are used for these formulas but what you can do is you can come over here to the right and i stuck some old information in there this is just junk i stuck in you could put over here as well maybe in column s maybe you put whatever note you want to make to yourself i know an individual that i worked with several years ago that was really meticulous about his trading journal and one of the things that he did i mean this is the detail he got to is he would have another he had a bike two or three fields over here that he did this with he would put what his entry signal was based on was his entry signal based on alcohol and then he'd also want to know what the sector was doing so he'd write that down he also wanted to know what the market was doing that day he wanted to know if he got in on a bullish trade on a bearish day so that he could go back and track that information and see if he needed to make any changes on what he did to get in so this is not as detailed of that but mike absolutely go ahead put these other notes in i'm going to go to the side here for a little bit you probably do not want to mess with any of these fields here uh you might choose to hide them okay maybe you can use s that's fine but then maybe come out here after af because these columns here are being used for some calculations okay so you don't want to mess that up great question all right uh how often do you guys update your watch list how often do you do it uh one thing you can do is simplify your time by saying you know i think i'm going to focus on my current watch list when the market is open instead of creating new watch lists every day when you run some scans depending on what kind of a scan it is if it's for purposes of finding some stocks that you want to trade either with the trend or you're looking for those bull flag patterns i know how they haven't been abundant right now but if that's what you're trying to do then probably once a week you might want to go update your watch list if you're doing trades that are very specific based on movements today yeah then you might want to create a watch list for maybe stocks that meet a particular criteria that you're looking for some of them could be scans that you've developed one example is a scan that i'll post results to very frequently it's called my early morning movers scan right here early morning movers i pretty much run this every day and lately it hasn't had a lot to come back today it actually has some results on it okay and so many of these are contingent on the price being up today as well as having some trends that are bullish so there's some different factors that go into play here this particular scan changes daily and so i may look at it while i do look at it every day and just kind of see what is moving leslie says is the trading journal saved on the td website or can you save it on your computer you can save it on your computer in fact when you come over here to let's see if it comes up there we go when you come to this page right here and you click on trading journal you'll be able to download it people will ask me it i should say it's an excel document and people have asked can it work with other spreadsheets i said i have never tested it with one last time when i taught this class somebody was using the trading journal or in a class we used it he commented in that it works with google spreadsheets now i can't validate that to the ameritrade can't validate that if you want to try it there then you can try it out the only thing i've worked with it on is excel that's the only spreadsheet program i have now as we're wrapping up here there's a lot of things to do daily there's a lot of things to do weekly monthly and quarterly one you want to identify when your stocks are having earnings don't forget about that you can use the td ameritrade calendar you which is under the research and ideas let me go back maybe to this page research ideas come down to calendar and then you can select what kind of calendar well i'll just go to earnings right now we're not thinking earnings season so there's not a whole lot here but keep track of it so don't be surprised because there could be some trades you're like i want to be out before earnings there could be other ones you're like oh i've been in this for a long time of course i'm going to hold through earnings but you still want to be aware maybe you want to put a hedge on as it goes through earnings if it's something you're going to continue to hold on to um also look at your trading journal results maybe you do that once a month if you want to do it more frequently great but go back and evaluate all this information that you've been taking the time to collect and make some observations of it oh i don't do this strategy very good or this one isn't working in our current market oh this one seems to be working a lot better in our current market or whatever the case is with the data as you identify it and determine make some observations and determine what should i do based on that very good like i said most of these were daily routines as you have any questions send those in right now as we wrap up i want to make sure that we've got you covered we went through all of those the daily routines the trading journal weekly routines like updating your watch lists uh and seeing sector rotation and then these are not going to be obviously as frequent but they are going to be important to you the reason that you're doing a lot of the daily routines and keeping the journal so i want you to do your own thing i want you to make your own checklist and determine what routines you want to do weekly daily monthly quarterly and then put it somewhere where you'll look at it so you'll actually do it okay that is obviously a big key we have lots of classes geared towards those of you that are new take advantage of that we did use thinkorswim a little bit today not a ton but if you're still trying to get acquainted with it this class i'm going to point you to getting started with thinkorswim ken taught it last night at five eastern i teach one that's a little bit more advanced called exploring think or swim it's wednesdays at five eastern time and so get comfortable with it start using it make sure you're doing your paper trades in it and whatnot let's get rid of that let's uh there we go well i do appreciate you being here today you've had some good questions i hope this is information you can start using right now because that's what it is intended for john i appreciate you helping out and answering questions here today fortunately they did not wear your fingers to the bone well you guys as we wrap up i just need to remind you what we talked about today is for educational purposes only not a recommendation of any security strategy or account type uh coming up next is going to be active portfolio management uh with i believe mike fairborne is going to going to be teaching that class so have a great day the markets are closed monday enjoy a nice breather from the markets we will be closed as well but we'll open back to tuesday morning bright and early hey thanks everyone next week we'll start over bye [Music] you

2022-06-20 10:00

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