Trading Journal: What to Write After Every Single Trade
A trading journal is only useful if you record the right information. After every trade, you should log six things: the setup name, your entry and exit prices, your planned risk versus actual risk, whether you followed your rules, your emotional state, and what you’d do differently. This takes 2-3 minutes per trade and is the single fastest way to improve as a trader.
The Six Things to Record
1. Setup name and market. Give each setup a label (“Bull Flag Breakout,” “Support Bounce,” “Gap Fill”). This lets you filter your journal later and see which setups actually make money. Include the ticker or contract and the timeframe.
2. Entry and exit details. Record your entry price, stop loss price, take profit target, actual exit price, and position sizing. Include timestamps. The specifics matter because they reveal execution quality.
3. Planned risk versus actual risk. Did you risk what you planned? If you intended to risk $100 but exited with a $250 loss, write that down. The gap between planned and actual risk reveals discipline issues.
4. Rule compliance. This is a simple yes or no: did you follow every rule in your trading plan? If no, specify which rule you broke. This is the most important field in your journal.
5. Emotional state. Rate yourself 1-10 before and during the trade. Were you calm, anxious, bored, or excited? Over time, you’ll see clear correlations between emotional states and trade outcomes.
6. Lessons and adjustments. What would you do differently? What did you learn? Even on winning trades, there’s usually something to note. This is where growth happens.
How to Review Your Journal
Recording trades is only half the process. The real value comes from weekly reviews:
Every Friday (or your last trading day): Look at all trades for the week. Calculate your win rate by setup type. Identify your best and worst performing patterns. Check your discipline rate.
Monthly: Look at bigger patterns. Are certain days of the week better for you? Are you consistently breaking one specific rule? Is one setup carrying your results while others drag you down?
A solid journal review often reveals that 1-2 setups produce all your profits while others break even or lose money. This is actionable: trade more of what works, cut what doesn’t.
Keeping It Simple
Don’t let the perfect journal prevent you from keeping any journal. A spreadsheet works fine. So does a notebook. The format matters far less than consistency.
At minimum, use a simple spreadsheet with columns for: Date, Setup, Entry, Stop, Target, Exit, P&L, Rules Followed (Y/N), Emotional State (1-10), Notes. That’s 10 columns. You can build on this as your needs evolve.
For more on building discipline through tracking, check out our guide on why discipline matters more than strategy.
Key Takeaways
- Record six things per trade: setup name, entry/exit details, planned vs. actual risk, rule compliance, emotional state, and lessons
- Review weekly to identify winning and losing patterns across setups and behaviors
- Track rule compliance as the single most important metric in your journal
- Keep it simple: a basic spreadsheet with 10 columns is enough to start
Frequently Asked Questions
How long should I spend on each journal entry? Two to three minutes per trade. If it takes longer, you’re overcomplicating it. Capture the essentials, not a novel. Speed comes with practice.
Should I include screenshots of the chart? Yes, if your format allows it. A screenshot with your entry, stop, and target marked is incredibly useful during reviews. It helps you see patterns in your technical analysis that numbers alone can’t reveal.
What if I forget to journal a trade? Fill it in from your broker’s trade history as soon as possible. The emotional state and lessons are harder to recall after the fact, which is exactly why journaling immediately after each trade is ideal. Build it into your post-trade routine.
Risk Disclaimer: Trading involves substantial risk of loss. Past performance is not indicative of future results. See our full risk disclaimer.