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Forex Trading Journal Example

Maintaining a trading journal is a crucial practice for forex traders of all levels. It serves as a valuable tool for tracking progress, identifying patterns, and improving trading discipline.

Here’s an example of the type of record I keep. I use a Google Spreadsheet.

Structure of the Trading Journal

My journal entries include the following key columns:

  • Date and Time: Record when the trade was entered and exited.
  • Currency Pair: Note the specific currency pair traded.
  • Trade Direction: Indicate whether it was a buy (long) or sell (short) position.
  • Entry and Exit Points: Document the exact prices at which the trade was opened and closed.
  • Position Lot Size: Specify the amount of currency traded.
  • Stop Loss and Take Profit Levels: Document both the stop and profit levels.
  • Reason for Trade: Provide a brief explanation of why the trade was made.
  • Outcome of the Trade: Detail the result of the trade, including profit or loss.
  • Reflection and Notes: Include personal reflections on what was learned from the trade and how it could be improved.

Example Entry

  • Date and Time: May 6, 2024, 09:00 AM – 3:00 PM
  • Currency Pair: EUR/USD
  • Chart: 1 Hour
  • Trade Direction: Long
  • Entry Point: 1.0770
  • Exit Point: 1.0784
  • Position Size: 1 lot
  • Stop Loss Level: 1.0756
  • Take Profit Level: 1.0784
  • Reason for Trade: Based on a DB setup.
  • Outcome: Trade closed at take profit, yielding a profit of 14 pips.
  • Reflection and Notes: Although the neckline break was powerful, it faded at the close of the candle and took several candles to reach the take-profit target.
  • Health: Typically, I’ll add a short note about my general well-being. This includes how I’m feeling overall and whether I feel rested and energetic.

Maintaining a trading journal is essential for forex traders seeking to improve their skills and achieve consistent profitability. By documenting each trade and analyzing the outcomes, we can gain valuable insights into our strengths and weaknesses.

I encourage all traders to start their trading journals and make it a consistent habit.