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Psychology

Trading journal

By Jarosław Wasiński • Published: • Updated:
A systematic record of execution data and decision information, including thesis, rule version, risk, reasons for changes and compliance. Skipped and rejected signals also belong in the record. It supports reconstruction and comparison, but recording alone or a small sample proves neither causation nor an edge.
Example. For a trade, record the pre-entry thesis, UTC time, setup version, USD 50 planned risk, actual fills and a USD −55 net result. With R = USD 50, −1.1R describes the outcome; reason fields help distinguish costs, slippage and rule breaches.

Technical history and decisions

Both matter: prices, volume, commission, financing and cash flows, alongside entry rationale, exit conditions, rule version and compliance. Prices are not less important than emotions; without them, results cannot be reconstructed. A platform export complements contemporaneous notes rather than replaces them, and fills must be connected to the relevant trade idea.

Record before the outcome

Write the thesis, probability of a defined event and invalidation before observing the later path. Screenshots should show information then available. Retain rejected and skipped signals so review does not cover only executed positions. Separate idea identifiers from partial executions and record material edits rather than rewrite the original explanation.

Avoid selective conclusions

Compare consistently labelled groups, costs and uncertainty instead of highlighting only dramatic breaches. A compliant loss differs from a profitable breach. Scheduled review can suggest improvements, but a small sample or emotion label alone establishes neither the cause of an outcome nor an edge in a new rule. Preserve source records alongside derived statistics.

FAQ

Is a transaction export enough for a journal?
It provides important data but does not automatically record the original thesis, eligible signals or decision reasons.
Does every journalled loss mean an error?
No. Separate outcome, rule compliance and system quality.

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Jarosław Wasiński

Editor-in-chief, ForexMechanics.com • Macro & FX analyst

Independent analyst and practitioner with over 20 years of experience in financial markets. Actively involved in Forex since 2007, with a focus on fundamental analysis, OTC market structure, and disciplined capital risk management.

  • Creator and editor-in-chief of MyBank.pl, providing reliable financial education since 2004.
  • Author of hundreds of in-depth market commentaries, structural analyses, and educational materials for traders and investors.
  • Advocate for market transparency, promoting education grounded in hard data and institutional reports (BIS, ESMA, CFTC).

All content is educational and informational only – it does not constitute investment advice or a recommendation. Remember: leveraged trading (Forex/CFD) carries a high risk of rapid capital loss.