A trading journal template should preserve what was known before a trade, what was planned, what actually happened and whether the process was followed. Profit and loss alone cannot show whether a valid rule lost normally or an invalid decision happened to make money.
Copy-ready trade log
Create one row per completed position or per clearly defined decision episode. Copy these headings into a spreadsheet:
Trade_ID,Open_Date,Open_Time,Close_Date,Close_Time,Market,Direction,Setup,Timeframe,Context,Entry,Initial_Stop,Initial_Target,Position_Size,Planned_Risk,Planned_R,Exit,Fees,Financing,Net_Result,Result_R,MAE,MFE,Plan_Followed,Deviation_Code,Review_Notes,Screenshot_Link
| Field group | Required purpose | Record timing |
|---|---|---|
| Identity | Trade ID, market, direction and timestamps | At entry and exit |
| Decision | Setup, context, timeframe and invalidation | Before entry |
| Risk | Initial stop, size, planned loss and portfolio overlap | Before entry |
| Execution | Requested and actual entry/exit, fees and slippage | As filled |
| Outcome | Net result, R result, MAE and MFE | After closure |
| Process | Rule compliance, deviation code and evidence | After closure |
Pre-trade record
- What exact setup is present?
- What market evidence supports it?
- What observation invalidates the thesis?
- What event, liquidity or correlation risk is material?
- What is the planned monetary loss and position size?
- Which order and exit rules will be used?
Post-trade record
- Were entry, size, stop and exit consistent with the written plan?
- What spread, fee, financing or slippage occurred?
- Did a discretionary change have a rule-based reason?
- Was the outcome a normal strategy result or a process deviation?
- Which evidence should be reviewed across a larger sample?
Use a controlled deviation code
Free-form notes are useful but difficult to count. Add a short controlled code such as valid execution, early entry, late entry, oversize, moved stop, unplanned exit, missed valid setup or data error. Define each code once and do not change its meaning mid-sample.
Useful spreadsheet formulas
| Measure | Example spreadsheet logic |
|---|---|
| Net result | Gross result − fees − financing |
| Result in R | Net result ÷ initial planned risk |
| Win indicator | 1 when net result is positive; otherwise 0 under the stated convention |
| Compliance rate | Compliant trades ÷ reviewed trades |
Keep original and reviewed notes separate
Do not rewrite the pre-trade thesis after seeing the result. Place later interpretation in a separate review field with its date. This protects the journal from hindsight and allows the trade review checklist to compare planned and actual decisions.
Review in batches, not only after emotional outcomes
- Validate missing fields and duplicates.
- Separate deposits and withdrawals from strategy results.
- Calculate net results in one consistent unit.
- Compare planned risk with realized loss.
- Group by setup and deviation code only when the sample supports it.
- Review outliers and screenshot evidence.
- Write one testable process change and preserve the earlier rules.
Privacy and record integrity
Do not store passwords, API secrets or unnecessary personal identifiers in the journal. Back up the file, preserve raw exports separately and document any correction.
Trading Journal explains the wider practice, while Trading Performance shows how a clean record supports expectancy, drawdown and process analysis. Return to MFXG tools for the related worksheets.