Essential Tool
Trading Journal
The most important tool for improving performance - record, analyze, and learn from every trade
Why Do You Need a Trading Journal?
Identify patterns in your trading behavior
Know what works and what doesn't
Improve discipline and consistency
Track long-term progress
Discover recurring mistakes
Build a data-driven strategy
What to Record?
Date & Time
- •Trade date
- •Entry and exit time
- •Session (London/NY)
Trade Details
- •Currency pair/asset
- •Direction (buy/sell)
- •Position size (lots)
- •Entry and exit price
Risk Management
- •Stop loss
- •Take profit
- •Risk-reward ratio
- •Account % at risk
Psychology
- •Feelings before trade
- •Feelings during trade
- •Feelings after trade
- •Confidence level (1-10)
Analysis
- •Entry reason
- •Setup/strategy type
- •Timeframe
- •Market conditions
Review
- •What I did right
- •What could improve
- •Lessons learned
- •Trade grade (A/B/C)
Sample Trade Entry
| Date | Pair | Direction | Entry | Stop Loss | Take Profit | Size | Result |
|---|---|---|---|---|---|---|---|
| 2024-01-15 | EUR/USD | Long | 1.0850 | 1.0820 | 1.0910 | 0.5 lot | +60 pips |
Weekly Review Questions
1.What's my win rate?
2.What's my actual average R:R?
3.Which days/sessions perform best?
4.Which setups yield best results?
5.Am I following or breaking my rules?
6.What mistakes keep recurring?
Trading Journal Tools
Excel/Google Sheets
Full customization flexibility
Notion
Ready templates, easy to use
Edgewonk
Advanced analytics, trading-specific
Tradervue
Auto-import from broker
💡 Tips for Consistency
Record every trade immediately after closing
Dedicate 10 minutes daily for review
Review weekly and monthly
Be honest with yourself
Focus on process, not just results
Make it a habit, not a choice