How to Start a Trading Journal: A Complete Beginner's Guide

Key insights for traders:

In summary, choose between spreadsheets (free but time-consuming) or a dedicated app like TrackIt (automatic calculations, built-in analytics).

Every trade entry should include: Date, Symbol, Direction, Entry/Exit Price, Position Size, P&L, Setup, and Notes.

Develop a pre-trade routine documenting your setup, thesis, and risk management before entering any trade.

Schedule weekly reviews to calculate win rate, review best/worst trades, and identify patterns for improvement.

Introduction

Starting a trading journal can feel overwhelming. What should you track? How detailed should you be? In this guide, we'll walk you through everything you need to know.

Step 1: Choose Your Journal Format

You have several options:

Spreadsheet (Excel/Google Sheets)

Pros: Free, customizable
Cons: Time-consuming, manual calculations

Dedicated Trading Journal App

Pros: Automatic calculations, built-in analytics, easy to maintain
Cons: May have costs

We recommend using a dedicated app like TrackIt for the best experience.

Step 2: Decide What to Track

At minimum, every trade entry should include:

Date/Time
Symbol
Direction (Long/Short)
Entry Price
Exit Price
Position Size
P&L
Setup
Notes

Step 3: Develop a Pre-Trade Routine

Before entering any trade, document:

1. The setup - What pattern triggered this trade?

2. Your thesis - Why do you expect this trade to work?

3. Risk management - Where is your stop loss?

4. Position size - How much are you risking?

Step 4: Post-Trade Analysis

After closing, record:

Outcome - Win, loss, or breakeven
What went well
What to improve
Lessons learned

Step 5: Weekly Review

Set aside time each week to:

1. Calculate your win rate

2. Review your best and worst trades

3. Look for patterns

4. Set goals for the next week

Conclusion

Starting a trading journal takes effort, but the payoff is enormous. Begin with the basics and add detail as you become more comfortable.