Why Keep a Trading Journal?

1. Track Performance Objectively

• Records wins, losses, and key metrics (win rate, risk-reward ratio).
• Example: Without a journal, you might think you’re profitable, but data could show you’re losing money on bad risk management.

2. Identify Weaknesses

• Reveals patterns (e.g., “I lose most trades when I ignore support/resistance”).
• Example: A trader notices 70% of losses happen during high-impact news—avoids trading then.

3. Improve Discipline

• Forces accountability (no more impulsive trades).
• Example: A trader sees they broke their 1% risk rule 5 times in a month → adjusts behavior.

4. Refine Strategies

• Tests what works (e.g., “Pin bars at support yield 60% win rate”).
• Example: A trader backtests 100 trades and finds moving averages work best on H4 charts.

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📝 Trading Journal Example (Forex Trade)

Trade Details

Field	Entry
Date	May 10, 2024
Currency Pair	EUR/USD
Direction	Buy (Long)
Entry Price	1.0850
Exit Price	1.0900
Position Size	1.0 lot
Stop-Loss (SL)	1.0800 (-50 pips)
Take-Profit (TP)	1.0950 (+100 pips)
Risk-Reward Ratio	1:2
P/L	+1,000(100pips×1,000(100pips×10/pip)

Trade Analysis

1. Setup:
   • Entered based on bullish engulfing candle at key support (1.0850).
   • Confirmed by RSI oversold (28) and bounce off 200 MA.
2. Mistakes:
   • Moved stop-loss too early (adjusted from 1.0800 to 1.0825 out of fear).
   • Closed half position too soon (took profit at 1.0900 instead of 1.0950).
3. Lessons Learned:
   • ✅ Good: Followed the strategy (support + RSI confluence).
   • ❌ Bad: Let emotions override rules. Next time, stick to the plan.

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📊 How to Structure Your Journal

1. Pre-Trade Checklist

• Why am I taking this trade? (TA/FA signal?)
• What’s my risk-reward (1:2 or better)?
• Am I following my rules?

2. Post-Trade Review

• Screenshot of the chart (mark entry/exit).
• Emotional state (calm, fearful, greedy?).
• What worked? What failed?

3. Weekly/Monthly Summary

• Win Rate: (Wins ÷ Total Trades) × 100
• Average Risk-Reward: (e.g., 1:1.5)
• Biggest Mistake: (e.g., “Overtraded on Friday”)

A trading journal turns random guesses into data-driven decisions. The best traders review theirs daily—start today!

“A trader who doesn’t journal is like a pilot without a flight log—destined to crash.”

Ultimate Trading Journal Template

📝 Daily Trade Log

Date: _________
Pair: _________
Direction (Long/Short): _________

Trade Setup

1. Strategy Used: (e.g., Pin Bar at Support, MACD Crossover)
2. Entry Reason: _________
3. Chart Timeframe: _________

Risk Management

• Entry Price: _________
• Stop-Loss (SL): _________
• Take-Profit (TP): _________
• Position Size: _________ Lots
• Risk per Trade: ___% of Account

Trade Outcome

• Exit Price: _________
• P/L ($): _________
• P/L (Pips): _________
• Risk-Reward Achieved: _________

Emotions & Mistakes

• How I Felt During Trade: (Calm/Anxious/Greedy)
• Mistakes Made: (e.g., Moved SL, Exited Early)
• Lesson Learned: _________

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📊 Weekly Performance Summary

Metric	Target	Actual
Win Rate	___%	___%
Avg. Risk-Reward	1:2	___
Biggest Mistake	_________

Weekly Goal for Next Week: _________