It’s said the best way to learn is from your mistakes. Investing is no exception. To avoid past failures and to replicate your wins, you’ll need to track and understand the reasons – and motivation — behind your investment choices.

Unfortunately, while many of us regret certain investment decisions, we don’t always have the best recollection or insight when it comes to understanding why we made them. To combat this shortcoming, take a page from the behavioral finance playbook and keep a personal investment journal.

By recording the details, you’ll be better equipped to spot patterns, examine the effectiveness of your decisions, and learn from mistakes.
Your personal investment journal should include details about your short- and long-term investing goals; research, tips and guidance from experts; and industry trends and market performance. You should also make a list of the investment choices you are considering. Finally, you should track the performance of each stock, bond and mutual fund that you hold.