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Episode 18

Reviewing a day differently

When we finish a trading day, we often have a very clear impression of what just happened. Good day. Bad day. I executed well. I executed poorly. I should have waited. I should have exited earlier.

The problem is that this impression is still mixed with the emotions of the moment. And a few days later, it's already changing.

That's one of the reasons I wanted LowFlow to allow you to come back to a full day, not just to each trade separately.

A single trade doesn't always tell enough

Imagine three trades. The first a loser. The second a winner. The third a loser. Taken separately, you can analyze each one. But sometimes, what's interesting is found between the trades.

Was the second taken right after the first loss? Did the third come after a long stretch with no trade? Were all three taken in the same context? Was an important economic release coming? Had I written something in my plan before the open?

The whole day can tell something that the individual statistics don't show.

That's why I started thinking in a timeline

I wanted to be able to look at a day as a timeline. Before the market. The prepared levels. The important news. The trades. The screenshots. The notes. The changes made during the session. Then the review after the close.

All in the same environment. Not to make the journal more complicated. Quite the opposite. To avoid going to find the story in five different places.

Context becomes more useful when it stays attached to the day

A comment written at 8:15 doesn't have the same value if it's read back without knowing a trade was taken ten minutes later. A screenshot doesn't have the same value if you no longer know which moment it matches. A level prepared before the market becomes much more interesting when you can see what actually happened around it during the session.

It's this relationship between the pieces of information that interested me. Not just their existence.

A review should not be an interrogation

I also didn't want to create a system where the trader finishes their day and has to fill out fifty boxes. The reality is simple. If something takes too much work, you end up not doing it anymore.

So as much as possible, the information that's already available should be retrieved automatically. The trades. The times. The screenshots. The market data. The rest can be added only if the trader finds it useful.

Again: the trader chooses.

Over time, the day becomes a complete object

That's where the journal starts to change. You no longer look only at: "how much did I make today?" You can look at: "how did this day actually unfold?"

And those two questions don't always tell the same story.

That's probably where I started to see LowFlow less as a record of transactions and more as a review tool. Not just keeping the result. Keeping the context that gives it meaning.

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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones' financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

CFTC Rule 4.41 - Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.