Best Crypto Trading Journal Apps
As we’ve already mentioned in our article “The most important Bitcoin Trading Tip” it is essential for every trader to take notes on all his trades since that’s the most efficient way to really learn from mistakes in order not to make them again. If you take trading for serious and want to become successful in it as fast as possible, make sure you write down every trade when it’s finished. This doesn’t have to be a big effort, just note those parameters:
- Entry Price (buy price at long trades / sell price at short trades)
- Size of the position
- Profit or loss
- What was your strategy
- What did you do wrong, in the case of a loss
If you should use leverage, of course add this value, too. However, as a beginner you should first learn trading without leverage before taking higher risk.
Evernote is a popular app for taking notes, also complex ones with images or other files attached, you can clip web pages and even record audio. There is a free version which will perfectly sit your needs in terms of trading journaling.
The beauty of Simplenotes lies in its simplicity. So this app is just for taking notes without distraction. Also it entirely free and can be used on mobile phones as well as on MACs or generally online in the cloud.
OneNote is another big player in the field of note taking apps. YOu can organize thoughts, create to do lists and projects. For trading journaling the most basic features will be sufficient. The app is free, so you can just try it.
Google’s free notes app “Keep” is best for collecting images, creating checklists and drafting documents. Usable in your google account (browser) or on your phone as app.
This is again a free app, however you can purchase some extras within the app for some Dollars. Squid suits best for free-form writing and document annotation.
Or do it just old school and write your notes on a paper. This is actually not a bad idea since scientists found out that we can memorize notes best when we’ve written them by hand. This means that the learning effect might even be the biggest in this case.
Whatever your personal style might be, just make sure you really cultivate a trading journal in order to be able to learn from mistakes. This is no joke – all pro traders journal their trades and keep doing that even when they are successful since a long time. Being successful with money in the long run means that you always keep track on your numbers, you keep full control over your profits and losses. This is one essential on the way to become financially free.