JoymistaWhat Is a Trading Journal and Why Keep One?
A trading journal is a record of every trade: the instrument, direction, reason for entry, stop, target and result, with a note on what happened.
Explained
Without a record a trader relies on memory, which remembers the big trades and forgets repeated mistakes. A journal shows which strategy works, which day or session loses most, and your real win rate.
Example
Example with made-up numbersYou log 40 trades and win 22, a 55% win rate. If 10 of the losers came during news, that is a pattern worth changing.
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Related terms
- BacktestingBacktesting is running a trading strategy’s rules on past price data to see how it would…
- Risk-Reward RatioThe risk-reward ratio compares what you risk to your stop with what you aim for at your…
- DrawdownDrawdown is how far an account falls from its highest peak to the lowest point after it,…
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Open in JoymistaEducational content, not investment advice.