How to keep a trading journal that actually improves your trading
A journal turns a pile of trades into evidence. Without one, you remember the wins you were proud of and forget the pattern behind the losses. This guide covers what to log and how to read it.
Last updated 2026-10-05 · Educational content, not investment advice
What to record for every trade
- Date, direction and the result in dollars (negative for a loss).
- The reason you entered, in one sentence, written before the trade.
- Planned stop and target, so you can see whether you followed the plan.
- How you felt, and any mistake you made. These notes are where the lessons are.
Keep it short enough that you will actually do it. You can log trades for free in the trading journal, which stores them only in your browser.
The statistics worth tracking
- Win rate = wins ÷ trades.
- Average win and average loss.
- Expectancy per trade = total result ÷ number of trades.
- Profit factor = total of wins ÷ total of losses.
A worked example
Suppose 20 trades: 8 wins averaging +45 USD and 12 losses averaging −20 USD. Win rate = 40%. Total = 8 × 45 − 12 × 20 = +120 USD, so expectancy is +6 USD per trade. Profit factor = 360 ÷ 240 = 1.5. The average win is 2.25 times the average loss, and at that ratio the break-even win rate would be 1 ÷ (1 + 2.25) ≈ 30.8%, so 40% is above it. See R:R and break-even win rate.
Hypothetical numbers to explain the calculations. Twenty trades is far too few to trust any statistic.
A simple weekly review
- Count the trades where you broke your own rules. Their result matters more than the headline P&L.
- Look at your five biggest losses. Were they planned losses or ignored stops?
- Compare results by time of day or by setup, but only once you have enough trades.
- Pick one rule to tighten next week, and add it to your pre-trade checklist.
Limits
Statistics from your own entries describe the past and depend on honest logging. They do not prove a strategy works and they do not predict future trades. Export a CSV backup regularly, because browser storage can be cleared.
Related tools
Free online trading journal
Log trades, see win rate and averages, export CSV
Open tool →Risk-reward calculator and break-even win rate
R:R, required win rate and expectancy per trade
Open tool →Pre-trade checklist for gold
8 questions that force you to think before entering
Open tool →Limits and risk
This tool is educational. Results are estimates from the numbers you enter and are not investment advice. Trading CFDs is high risk and you can lose everything. Read the full risk warning