10 Components of a Forex Trading Journal

In our previous post we ended up our analysis  on different styles of forex trading while viewing at the longer term style of position trading.   Now we will begin a new discussion of trade on one of the most powerful tools that is the journal of trading.
I believe many successful people will inform you that a major factor that distinguishes the successful from the unsuccessful is those who are successful look at every understanding as an opportunity to learn and develop, on the other hand those who do not move from one understanding to another with lack of learning. Keeping this in mind, the major factor that distinguishes the unprofitable trader from the profitable trader is a frankness to learn from each other’s experience and knowledge of  forex trade, and dedication to put all effort whatever it takes to document and regularly analyze each trade that is made.

Traders document their trades in trading journals. This is as simple as writing down some trade details in your notebook or word document,  those who are well verse in excel find this option much more powerful.


Following are 10  points that are in my opinion are important to document about each trade:

1. For that very specific trading day the general market conditions. There is a plenty of instability in the market.
2. The reason you entered the trade, the time of entering the trade, and the cost you paid to enter the trade.
3. The reason you left the trade, the time of trade exit, and the trade exit price.
4. Whether or not the trade was long or short.
5. Whatever comes about the market at the time of opening the trade for the time that you ended the trade?
6. The parameters of money management you employ in the trade and that we covered in our prior  sessions.
7. Many traders also attach a chart to analyze on it to aid them remember the trade when they study their trading journal.
8. On that particular day when you were week than what are you going to tackle those weakness?
9. On that particular day when you were strong than what are you going to do to tackle those powers? 
10. Whatever thoughts that you come up with that day should also be noted.