- Set up the minimum fields for a journal entry.
- Separate process quality from profit or loss.
- Turn recurring errors into one measurable experiment.
The pre-trade record
Before entry, write the market, timeframe, context, setup, trigger, invalidation, size, planned risk and expected costs. Add one sentence about why the idea is worth considering and one sentence about what would prove it wrong.
This prevents hindsight from rewriting the original reason. If the entry was impulsive, record that honestly; the journal is for learning, not for presenting a perfect story.
- Date and time
- Instrument and timeframe
- Setup and trigger
- Entry, invalidation and exit
- Cash risk and size
- Costs and market conditions
Execution is its own category
A plan can be good and execution can be poor. Note late entries, partial fills, slippage, order-type mistakes, platform issues and whether you moved a stop. These details often reveal a practical problem that a win-rate statistic cannot show.
Use a consistent vocabulary so patterns can be counted. ‘Entered late’ is more useful than ‘felt bad’. Emotion can still be recorded, but connect it to an observable action.
Review by sample, not by mood
Review ten or twenty comparable decisions together when possible. Look at average risk, rule adherence, time of day, setup type, costs and maximum adverse movement. A single outcome can be lucky or unlucky; a sample can reveal a process pattern.
Choose one change for the next sample. For example: no entries during a defined news window, or every trade must include a written invalidation before an order is sent.
A useful review note
‘The setup met the rule, but I entered two candles late and doubled the planned risk. The result was profitable, yet the process was a fail. Next sample: size must be entered in the ticket from the calculator before the order is submitted.’
Carry these four ideas forward.
- Write before the result is known.
- Record execution facts.
- Review comparable samples.
- Change one behaviour at a time.
Three questions before the next tab.
Choose the answer that best matches the lesson. This is a memory check, not a market signal.
Before you move on
Do I need a paid journal app?+
No. A consistent spreadsheet or notebook is enough. The quality of the questions matters more than the tool.
Should I record winning trades?+
Yes. A win can still contain a rule break, poor sizing or lucky execution, and a loss can still be well planned.
How often should I review?+
A short weekly check can catch process issues, while a deeper review after a defined sample can reveal stronger patterns.