Lesson 4 of 7 · 7 min
Keeping a journal
A two-minute habit that turns feelings into evidence. Learn what to record, and the one number that changes behaviour.
By the end you'll be able to
- List the fields a useful journal entry needs, and the ones it does not
- Explain how the journal separates method problems from behaviour problems
- Run a weekly review in ten minutes
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Memory is a generous editor. It remembers the great call and forgets the three impulsive trades around it. A journal does not.
What to record
Most journals die because they ask for too much. Keep each entry to what you will actually fill in:
- Date, pair, direction.
- Why you entered, in one sentence. If it takes more, there was no setup.
- Result in R, not in money, so entries are comparable as the account changes.
- Did you follow the plan? Yes or no. No partial credit.
- How you felt before the trade, in one word.
- One lesson, optional.
Two minutes. The entry is written the same day, while the honest version is still available.
The number that matters
Over fifty entries, one comparison becomes possible: the average result when you followed the plan versus when you did not.
The journal also separates two problems that feel the same. If plan-followed trades lose over time, the method needs work. If plan-followed trades win and plan-broken trades lose, the method is fine and the trader needs work. It is easy to blame the method when the journal shows the trader is at fault.
Try it
Trade journal
Saved in this browser only. Over fifty trades, the last column shows what breaking the plan costs you.
Notice the last statistic. Add a few sample entries, some with “plan: no”, and watch what it shows. On a real account after fifty trades, that figure tells you whether to fix the method or your discipline.
The weekly review
Ten minutes, same time each week. Read the entries, answer three questions: Which setups are earning? Which feeling preceded the broken-plan trades? What is the one rule to add or tighten? Then close the journal and go and do something else.
Quick check
Question 1 of 3
Why record results in R rather than money?
Question 2 of 3
Plan-followed trades average +0.5R; plan-broken trades average −1.2R. The problem is:
Question 3 of 3
Which field is NOT worth keeping in a daily journal?
Go deeper: How to keep a trading journal that actually helps