Trading Journal: What to Record and How to Review It
How to keep a trading journal: what to record for each trade, a simple review routine, the numbers to track, and tournament results as a ready-made record.
A trading journal is a record of what you traded, why, and what happened. It is the cheapest edge in trading: the market does not change because you review it, but your mistakes do.
What to record for each trade
| Field | Example |
|---|---|
| Date and time | 23 Oct, 14:05 UTC |
| Market and side | ETH, long |
| Setup / reason | Break and retest of 2,600 |
| Entry, stop, target | 2,605 / 2,575 / 2,665 |
| Position size and risk | 50,000 · 0.6% of equity |
| Order types | Limit entry, stop-market stop |
| Exit and result | 2,640 · +0.7R after fees |
| Followed the plan? | Yes / no — what changed |
| Emotion | Calm / rushed / revenge |
The weekly review
- Sort trades by setup. Which setups make money after fees, which don't?
- Count rule breaks. Most losses come from a few broken rules.
- Check sizing. Was risk per trade stable? See position sizing.
- Look at the worst trade. What would have prevented it?
- Write one change for next week — just one.
Numbers worth tracking
- Win rate and average win / average loss — together they give expectancy. See risk-reward ratio.
- Max drawdown — the deepest fall from a peak. See max drawdown explained.
- Fees as % of gross profit — a hidden leak for active traders.
- Results by session and market — when and where you trade best.
Tournaments as a ready-made journal
Every PnL World tournament leaves a structured record: the result after fees and funding, the place against other traders, and the rating points earned — under the same rules every time. Over many tournaments that becomes a public record of how you trade, and the basis of your PWR. Add your own notes on setups and decisions, and you have both halves: what happened, and why.
FAQ
Do I need special software for a trading journal? No. A spreadsheet or notebook works; consistency matters more than the tool.
How long should I keep a journal? As long as you trade. The value grows with the number of trades.
Should I journal losing trades only? No. Winning trades that broke your rules are just as important to record.
PnL World tournaments are simulated: trades are executed against live market data, but no real-money positions are opened on any exchange. Nothing here is financial advice.
Next: Trading consistency · Position sizing · How to win a trading tournament