Having a detailed trading journal will allow you to run some statistics to assess your trading performance, adding to the assurance that your plan can generate consistent profits. With that type of confidence, you can rely on your trading system instead of doubting yourself and your system with every loss you take. First, start by writing down your fundamental bias for taking the trade. You need to be short and concise in your statement.

This would allow you to have a clearer insight and would give you something to review later on. The trader has to write down the reasons why he took the trade, is it because of a shift in the market sentiment or a new piece of fundamental data that changes the course of action, etc….

Next, write the trade-specific details, such as the entry and exit prices, your stop loss levels, your lot size, your main time frame where you execute your trades, etc.

You should also mention why you are watching those particular price levels, it will help you later on in your analysis. In addition to that, your trading journal should also have a risk and money management section. Beside from writing much you are risking per trade and what is the appropriate lot size for each position, you should include your strategies on how to increase your position size when winning and how to reduce your exposure when losing.

The goal here is to stay focus and avoid panic when things go unexpectedly. Lastly, it is also important to have a comment section where you write a short summary of your trading day. This part should indicate whether or not you were happy with your trade and the overall result of your trading day.

Make sure you highlight the emotional part of your trading experience as they rise. In fact, this might be one of the most important parts of your trading journal as you make the correlation between your emotional state and the market behavior and how you handled your trades. Many traders prefer relying on the logs or transaction history from their forex broker, but this is different from keeping a trading journal.

When you look at the transaction history in your trading platform, the only things that you can see are prices and the date of each trades. The missing part here is the reasons why you took these trades. Forex Trading Journal [Free Template to Download]. In Blog Views. Subscribe to my newsletter! Post Navigation. Previous Post: Trading Supply and Demand with TradingView.

Next Post: Weekly Forex Analysis: 29 — 3 Dec Related Posts:. What is Supply and Demand in Forex? Risk Management Guide for Forex Traders. Capitalize on it by trading your best and keeping a trade log in New to forex? Want to get started or learn more? Check out the Forex Introduction Course. Disclaimer: Nothing in this article is personal investment advice, or advice to buy or sell anything. Trading is risky and can result in substantial losses, even more than deposited if using leverage.

Cory is a professional trader since In between trading stocks and forex he consults for a number of prominent financial websites and enjoys an active lifestyle. He runs TradeThatSwing and coaches individual clients. Also have been trying to get my head around the usefulness of efficiency when negative numbers are involved.

Example a flat day — potential 0R but I did Thanks Cory, appreciate your content and clear guidance. I am trading FX using swing trading, day trading may not suit me. Save my name, email, and website in this browser for the next time I comment.

Notify me of follow-up comments by email. Notify me of new posts by email. Sign Up for My Free Weekly Trading Tips Newsletter. Forex Day Trading Trade Log for Excel Download See what a trade log is and download it for your forex day trading. Forex Day Trading Trade Log for Excel Download November 10, Posted by Cory Mitchell, CMT Forex Basics , Forex Day Trading Lessons 2 Comments.

Downloadable Forex Day Trading Log in Excel for There are programs that you can connect to your forex day trading account to track various statistics and performance. Here are all the stats included in the downloadable forex day trading log Excel sheet. This amount is called R. Number of round-trip trades taken during the day. Number of wins. Number of losses. For example, if you risk 1R on a trade, and you win a trade with a 2.

R Lost is how many Rs you lost when you add up only losing trades. Average R Win is the average of how many R are won on the winning trades. This tells us how profitable our average win is relative to our average loss. Profit R is the daily profit expressed as R, not including fees.

Potential R is our potential profit if we followed our trading plan and executed all the trades well. Input this manually after reviewing your chart. Input this one manually, as it is a rather subjective measure of whether you followed your plan or not. If you pay commissions, add them back in for this number. Fees are our commission costs. Add up the costs shown in the trading platform for the day. The only serious disadvantage such a journal has is slow performance because Excel, albeit a great software, does lots of unnecessary calculations each time you change something in a spreadsheet.

Then follow the price-related parameters of the trade: entry price , initial stop-loss , initial take-profit , IRR initial risk-to-reward ratio , position size you can enter it in lots or in units, or you can just hide the column if you don't want to recored this parameter , exit price , close date.

The final columns of the trading journal include: open comment what you had thought about the trade when you just opened it , close comment what you think about the trade after closing it , end balance calculated automatically , chart link you can insert a link to a local file on your computer, or a URL to some website where you store your trading screenshots, or you can hide this column entirely.

This is where you define your currency pairs with a quick reference number and a number of decimal places.

There are two number fields but the second one is filled automatically when you enter something in the first one. The second column is required for technical reasons:. The Analysis sheet becomes the most interesting one after you log some trades.

It lets you analyze your performance using a number of metrics and charts. The table ends with the columns that show the metrics of the "maximum" parameters of your strategy: profit , loss , winning streak longest sequence of uninterrupted profitable trades , losing streak longest sequence of uninterrupted losing trades , absolute drawdown how much your balance declined below its starting point , maximum drawdown largest peak-to-through percentage decline.

You can download either a pre-filled template journal spreadsheet you can replace trades with your own or clear unnecessary rows or an empty spreadsheet only initial balance transaction is logged. If the journal is empty, an occasional "Excel found a problem with one or more formula references in this worksheet. Download Forex Trading Journal 3. Download an empty Forex Trading Journal 3. Otherwise, you won't able to reference currency pairs both by their name and number.

You can set the maximum iterations value to If you have any suggestions or if you find any bugs in this Forex trading journal spreadsheet, please report them on our forum.

A trading journal is the essential tool to help you become a consistently profitable trader. As we all know by now, trading is not just about strategies and technical analysis. It takes more than that to see good results in your trading. By keeping a detailed records of your past performances, including your psychological state in each trade you execute, helps you find patterns in your behavior to improve.

To improve your trading performance, you need data to analyze and identify patterns so that you can improve and grow as a profitable trader.

While the idea of keeping track of every single trade, decision, and outcome appears tedious, it could help achieving trading consistency and long-term profitability. I will also attach a template for you to download and use. Feel free to adjust it to fit your trading style.

A complete trading journal not only includes the complete trade details, such as entry and exit prices and the number of pips gained or lost, but it should also have a devoted section where you indicate the reasons behind your trading ideas. This includes trading psychology details, such as your degree of confidence in taking the trade opportunity, your reaction to expected and unexpected market situations, your state of mind as the trades are executed.

By keeping track of these details, you can get better insight into how your emotions and attitude are influencing your trading performance. In reviewing a trading journal, you are able to monitor the common mistakes you make and take the necessary actions to avoid them next time you trade the market.

For instance, if you find yourself placing tight stop losses, you can adjust your risk-to-reward ratio or use different tools such as ATR indicator to help you place your stops.

If you notice that your trading performance during the New York session is more profitable than the Asian session, then you can limit your trading activity only during the New York session. This increases your confidence in taking trades and keeping balance between your emotions and your trading performance.

Having a detailed trading journal will allow you to run some statistics to assess your trading performance, adding to the assurance that your plan can generate consistent profits. With that type of confidence, you can rely on your trading system instead of doubting yourself and your system with every loss you take. First, start by writing down your fundamental bias for taking the trade. You need to be short and concise in your statement.

This would allow you to have a clearer insight and would give you something to review later on. The trader has to write down the reasons why he took the trade, is it because of a shift in the market sentiment or a new piece of fundamental data that changes the course of action, etc…. Next, write the trade-specific details, such as the entry and exit prices, your stop loss levels, your lot size, your main time frame where you execute your trades, etc.

You should also mention why you are watching those particular price levels, it will help you later on in your analysis. In addition to that, your trading journal should also have a risk and money management section. Beside from writing much you are risking per trade and what is the appropriate lot size for each position, you should include your strategies on how to increase your position size when winning and how to reduce your exposure when losing.

The goal here is to stay focus and avoid panic when things go unexpectedly. Lastly, it is also important to have a comment section where you write a short summary of your trading day. This part should indicate whether or not you were happy with your trade and the overall result of your trading day.

Make sure you highlight the emotional part of your trading experience as they rise. In fact, this might be one of the most important parts of your trading journal as you make the correlation between your emotional state and the market behavior and how you handled your trades.

Many traders prefer relying on the logs or transaction history from their forex broker, but this is different from keeping a trading journal. When you look at the transaction history in your trading platform, the only things that you can see are prices and the date of each trades. The missing part here is the reasons why you took these trades. Forex Trading Journal [Free Template to Download]. In Blog Views. Subscribe to my newsletter! Post Navigation. Previous Post: Trading Supply and Demand with TradingView.

Next Post: Weekly Forex Analysis: 29 — 3 Dec Related Posts:. What is Supply and Demand in Forex? Risk Management Guide for Forex Traders. The Ultimate Guide to Master Supply and Demand in Forex. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Do not sell my personal information. Cookie Settings Accept. Manage consent. Close Privacy Overview This website uses cookies to improve your experience while you navigate through the website.

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A Swap column to record the swaps you pay or get from the broker. Forex Trading Journal Template Excel Free Download September 8, Also, make sure not to delete the first row it contains all the formulas. Forex Swing Trading with Supply and Demand Analysis by Fortradingbytraders. August 30, Cookie settings ACCEPT. This trading journal is made by forex traders at fortradingbytrades.

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