Every professional trader keeps a journal. It’s the only way to identify what works and what doesn’t.
What to Track
Before the Trade
| Field | Example |
|---|
| Date | 2026-07-11 |
| Asset | BTC/USDT |
| Setup | Bullish engulfing at support |
| Timeframe | 4H |
| Entry price | $50,000 |
| Stop loss | $49,000 |
| Take profit | $52,500 |
| Position size | 0.5 BTC |
| Risk amount | $500 (1% of account) |
| R:R ratio | 1:2.5 |
After the Trade
| Field | Example |
|---|
| Exit price | $51,800 |
| P&L | +$900 |
| Why you exited | Hit take profit |
| Holding period | 3 days |
| Emotions | Confident, patient |
| Lesson | Setup worked as planned |
Simple Journal Template
| Date | Asset | Direction | Entry | Exit | P&L | Result | Lesson |
|---|
| 01/07 | BTC | Long | 50,000 | 51,500 | +$750 | Win | Good entry, early exit |
| 02/07 | ETH | Long | 3,000 | 2,850 | -$300 | Loss | Ignored resistance |
| 03/07 | SOL | Short | 140 | 135 | +$250 | Win | Trend following works |
Metrics to Track
| Metric | Formula | Good Target |
|---|
| Win rate | Wins / Total trades | 40-60% |
| Average win | Total wins / Win count | Higher than avg loss |
| Average loss | Total losses / Loss count | Lower than avg win |
| Profit factor | Total wins / Total losses | > 1.5 |
| Max drawdown | Largest peak-to-trough | < 20% |
| Sharpe ratio | Return / Volatility | > 1.0 |
| Best month | Highest monthly P&L | Consistent |
| Worst month | Lowest monthly P&L | No blow-ups |
What to Analyse Weekly
| Question | What to Look For |
|---|
| Which setups work best? | Filter by strategy |
| What time of day? | Filter by entry time |
| What assets? | Filter by pair |
| What’s your win rate? | Compare to last week |
| Are you following your rules? | Check for discipline violations |
| What’s your emotional state? | Review emotions column |
Common Patterns to Identify
| Pattern | Fix |
|---|
| Winning early, losing late | Overtired, trade fewer hours |
| Winning on A, losing on B | Only trade A |
| Cutting winners short | Let winners run |
| Holding losers too long | Strict stop-loss discipline |
| Overtrading after a loss | Take a break after 2 consecutive losses |
| Tool | Cost | Features |
|---|
| Tradervue | Free/Premium | Trade upload, analytics |
| Edgewonk | One-time | Advanced statistics |
| Excel/Sheets | Free | Full control |
| Notion | Free | Journal + notes |
| Chatbooks | Free | Telegram-based journal |
Bottom Line
A trading journal turns subjective trading into objective data. Track every trade, review weekly, and look for patterns in your wins and losses. The goal isn’t a high win rate — it’s a positive profit factor with controlled risk. Your journal will show you exactly what to fix.
This content is for educational purposes only. Not financial advice. Do your own research before investing.