Trading skills

How to keep a forex trading journal

A trading journal is a record of every trade and the reasons behind it. Reviewing it is the most reliable way to find out what actually works for you, rather than what you remember working.

Guide · 6 min read Updated 3 Nov 2026 Reviewed by the research desk

What to record on every trade

Your platform already stores the numbers. A journal adds the decisions behind them.

Field

Example

Date, time and session

3 Nov, 14:10, London–New York overlap

Pair and direction

EUR/USD, buy

Setup or reason

Retest of broken resistance at 1.0850

Entry, stop and target

1.0852 / 1.0830 / 1.0900

Position size and risk

0.5 lots, $110 (1% of balance)

Result

+$240, +2.2R

Followed the plan?

Yes, but moved the target early

Screenshot

Chart at entry and exit

Measure in R, not just money

R is your risk on a trade. A trade that risks $100 and makes $200 is +2R. Measuring in R lets you compare trades of different sizes and see whether your winners are large enough to cover your losers.

How to review it

Set a regular review, such as every week or every 20 trades. Look for:

Win rate and average R for each setup.

Best and worst sessions and pairs.

Rule breaks, such as moved stops or trades taken outside your plan, and what they cost.

Change one thing at a time, then judge it over enough trades to be meaningful.

Keeping it simple

✓A spreadsheet works; dedicated journal apps can import trades automatically.

✓Fill it in straight after each trade, while the reasons are fresh.

✓Record losing trades as carefully as winners.

✓Combine it with a written plan. See forex risk management.

Common mistakes

✕Only recording results. Without the reason for the trade, you cannot tell good decisions from lucky ones.

✕Reviewing too soon. A handful of trades says little about a strategy.

Frequently asked questions

What should a trading journal include?+

Date and session, pair and direction, the reason for the trade, entry, stop and target, position size and risk, the result in money and in R, and whether you followed your plan.

Is a spreadsheet good enough for a trading journal?+

Yes. A spreadsheet works well. Journal apps can import trades from your platform automatically, but the reasons behind each trade still need to be written by you.

How often should I review my trading journal?+

Weekly or every 20 trades is a common rhythm. Judge changes over enough trades to see a pattern rather than reacting to a few results.

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Written by the Forex Awards research desk

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