Traders should record all their trades, along with the details of each transaction, in their trading journal. This allows them to review their trades over specified periods and improve their performance.

Uses of the Trading Journal 

1. Performance Review: Enables the assessment and analysis of past performance to identify strengths and weaknesses.
2. Strategy Improvement: Helps in recognizing patterns and adjusting trading strategies based on real data.
3. Risk Management: Facilitates better risk management by analyzing the profit and loss of each trade.
4. Emotional Control: Assists in managing emotions and preventing impulsive decisions.
5. Learning from Mistakes: Encourages learning from past mistakes to avoid repeating them in the future.
6. Tracking Goals: Helps track financial and trading goals and evaluate progress toward achieving them.