Module 18: Trading Journal
Key Takeaways
- A journal turns random trading into a measurable process.
- Record entries, exits, reasons and emotions.
- Reviewing reveals your edge and your repeated mistakes.
Recording trades
For every trade, log: date, instrument, direction, entry, stop, target, position size, result (R multiple), the setup/reason, and a screenshot. Use a spreadsheet or the journal template in Resources.
Trade analysis
Weekly, review your journal: which setups make money? Which timeframes? Which sessions? Calculate your win rate, average win, average loss and expectancy. Let data — not feelings — guide changes.
Mistake tracking
Tag mistakes (no stop, moved stop, over-sized, FOMO entry, revenge trade). Patterns emerge fast. Most traders make the same 2–3 mistakes repeatedly — fixing them is the quickest path to profitability.
Improving consistency
Consistency comes from doing the same correct process every time. Your journal is the feedback loop that enforces it: it shows when you deviated and what it cost you.
Grade each trade A–F on execution, not outcome. A perfectly executed losing trade is an A; a sloppy winner is a D.
Frequently Asked Questions
At least 20–30 to start, ideally 100+ for reliable statistics on your edge.