Guide · By DueTrack Studio · Updated 2026-10-29
How to keep a trading journal that actually improves your trading
A useful trading journal records every trade with the same fields — instrument, session, setup, entry, stop, target, position size, result in R, a screenshot and one line on why you took it — and you review it weekly to see which setups, sessions and timeframes actually make money. The journal's job is to replace feelings with evidence.
What should you record for every trade?
- Instrument and direction (for example XAUUSD, long).
- Session and time (Asia, London, New York).
- Setup name, so you can compare setups later.
- Entry, stop loss and target.
- Position size and risk as a percentage of the account.
- Result in R (profit or loss divided by the amount risked).
- A chart screenshot and one honest sentence about why you took it.
- Whether you followed your own rules.
Why measure results in R instead of money?
R is the result divided by what you risked. A +2R trade made twice the risk; a −1R trade lost exactly what you planned to lose. R lets you compare trades of different sizes and shows whether an edge exists, independent of account size.
How do you review a trading journal?
- Each week, group trades by setup and by session.
- Compare win rate and average R for each group.
- Stop trading setups with negative average R over a meaningful sample.
- Check rule-breaking trades separately — they are usually where the losses are.
- Write one change for next week.
Should you back-test before trading live?
Yes. Logging a set of back-tested trades with the same fields gives a first read on a setup before real money is at risk. Treat it as evidence to refine, not proof of future results.
Questions
I keep losing money trading gold. How do I figure out what I'm doing wrong?
Journal every trade for a month with setup, session and result in R, then group them. Most traders find one or two setups or sessions that cause most of the losses.
How many trades do I need before trusting my stats?
More is better; many traders aim for at least 100 trades on a setup before drawing conclusions.
Can I import trades from MT4 or MT5?
Trading Journal imports from MT4, MT5 or CSV.