Trading Journal

A record of every trade, including the reasoning behind it and the result.

Also called: journal · trade log

In plain language

A journal captures what a broker statement cannot: why you took the trade, what you expected, how you felt, and whether you followed your rules.

The useful fields are the ones that enable analysis — setup type, planned entry versus actual fill, R-multiple, and whether the plan was followed.

Over enough trades a journal reveals patterns that are invisible in the moment: which setups actually pay, and which times of day quietly cost money.

Without a journal, improvement relies on memory — and memory systematically overweights recent and emotionally intense trades.

Recording only outcomes, which cannot separate a good process from a lucky result.
Journaling only losses, producing a permanently distorted picture.
Collecting data for months without ever reviewing it.

These concepts are connected. Understanding one usually makes the next one easier.

A written set of rules defining what you trade, how you size it, and when you exit.

A trade’s result expressed as a multiple of the amount you originally risked.

The average amount you expect to win or lose per trade over a large sample.

The percentage of your trades that close at a profit.

Overweighting recent outcomes when judging what is likely to happen next.