Tradervue is a very simple forex journalling tool for traders. The tool allows traders to import trade data, then analyse simple metrics to look at profitability and various other factors. A simple but great tool for forex traders! You can store trades in different folders and Notion makes it very simple to pull data when you need to compile reports. The only downside is the fact you need to manually add all of your trades into Notion, which could take a long time if you have years of past history to add!

Trademetria is a forex trading journal that allows automatic importing of historical data. The tool comes with over 30 data points to help traders analyse the data, take accountability and enhance your edge within the markets.

You can also add screenshots, comments and notes to speed up the refinement process±. MyFxBook is one of the best tools for traders looking to get in-depth statistics and analysis of their trading performance.

However, MyFxBook is a must have for traders wanting to analyse their past trades to find patterns and refine their edge! FxBlue is essentially a very objective trading journal. Instead of journalling anything subjective, it tracks and analyses your trading results allowing traders to take an objective look at where their edge may lie.

The downside of the platform is that you cannot add your own screenshots in for trades, so that will need to be tracked separately. EarnForex Education Guides.

Features Here are some of the features of the trading journal that you can download further below: A Welcome sheet with some basic information you can safely delete it after reading. A Currency Pairs sheet that serves to put in your currency pair settings for quick referencing and for decimal place counts. You can ignore it, but then you won't be able to benefit from decimal places formatting; also you won't be able to just enter a small number instead of typing in the entire currency pair name each time.

The number of pips for profit and loss is calculated automatically. A Commission column that can also be used to record rebates if you receive them from your broker. A Swap column to record the swaps you pay or get from the broker.

An Analysis sheet to provide detailed analysis of your trading performance. Scalpers and intraday traders wouldn't probably need some of the columns Close date or Swaps for example but they would maybe want to track the trade length. Only first 1, rows are filled with formulas. If you hit the limit, just copy and paste formulas from the final row as far down as you need.

However, the more filled rows you have, the slower the journal will work. It is recommended to create a new trading journal file for each new year or for each new month if you are scalping. Explaining the columns Let's look at the example journal that has been filled with some random trades. Currency Pairs sheet This is where you define your currency pairs with a quick reference number and a number of decimal places.

The second column is required for technical reasons: Analysis The Analysis sheet becomes the most interesting one after you log some trades. Reviewing a trading journal comes to sitting down and exploring the data you have collected during a trading session. Those using dedicated journaling software should look through the trade analytics section of the software.

What you want to know is what strategy or the custom parameters you set to make money and why they work. In the chart above, on my short term scalping account, I trade four strategies.

One, based on currency correlation, the second on Gap filling, the third on reversals, and the fourth based on the Fibonacci pivot levels entering trades in the 5-minute timeframe in the direction of the minute chart. In my trade analytics, I am curious to know what currency pair works for me and on which days I make the most losses.

My trade analysis report shows me my trading performance based on the trading strategy, the currency pair, the trading days, emotions, and everything else I track. When you have a general idea of your trade performance, you should go to the individual trades, and review the thoughts and comments behind every trade. In my reversal strategy, for instance, I notice most of my trades are based on an idea my gut is telling me that price is about to reverse — I am trying to pick the top or bottom.

At the end of a review session, you should have actionable areas in your trading to improve or drop. If your journal reveals that, you enter trades too soon, you will need to adjust your entry signal or work out something that will stop you from jumping too soon. Some traders go to the extremes when their journals reveal meddling with trades is costly. Instead of leaving the trade to play out as planned, they move targets, close wins too soon — such traders, learned that that single habit limits the potential of their system, so what they do after placing the trades?

They close their trading workstations — only checking at defined times. But what you can learn from the journal is the trading session that makes you money and in which sessions you give back profits or what currency pair is most profitable.

If you have read to this part of the article or if you skipped to it, why add yourself more work of noting trades when trading statements from your brokers have all your trading results — Information that would seem duplicate if we tried to recreate it.

Well, here are 5 reasons why successful traders hold dear the habit of keeping a trading journal. The only way you will test and prove a trading strategy is by testing it on historical data and a live account. A journal will identify areas in the chart and the trading conditions around the trade times where you make the most or lose the most money. With thousands or even hundreds of data entries, a predictable pattern will pop out. There, you will know your strategy.

Once you are confident that your trading strategy has proven itself, there is no way you will make the stupid mistakes most traders make. This discipline easily trickles down to your trade directly, since you have to write your plan before placing a trade or indirectly, by tapping into the psychological power of the mind, where improving in one area sprawls to other areas.

You are on your own. You make the rules as you please. And break them when you feel them strangling. A trading journal forces you to account for each win and loss. It forces you to ask why and how. Because your trading journal will show you that you always make money even after taking 10 losses in raw. Hollywood, in her movies, depicts traders as alter ego males who get off the high and stress of trading with a puff of a joint, a snort of cocaine, and a shoot a of heroin in wild orgies.

By scribbling your thoughts to paper or screen you comb through your mind releasing pressure from within you. The pressure that we all know quickly snowballs into bad trading decisions. That is when you understand the therapeutic power of journaling.

There are lots of free spreadsheet journals already available online and there are quite a few professional stand-alone or web-based logging solutions. However, there are lots of reasons to prefer the simplicity and versatility of an Excel spreadsheet. Meanwhile, its customizability means that the journal only calculates and shows the stuff that you need the most. The resulting trading journal unites approaches to logging three different macro-strategies — chart pattern trading, news trading, and fundamental analysis trading.

It allows easy customization most non-essential columns can be hidden if they aren't needed while also providing an in-depth analysis of the trades. The only serious disadvantage such a journal has is slow performance because Excel, albeit a great software, does lots of unnecessary calculations each time you change something in a spreadsheet. Then follow the price-related parameters of the trade: entry price , initial stop-loss , initial take-profit , IRR initial risk-to-reward ratio , position size you can enter it in lots or in units, or you can just hide the column if you don't want to recored this parameter , exit price , close date.

The final columns of the trading journal include: open comment what you had thought about the trade when you just opened it , close comment what you think about the trade after closing it , end balance calculated automatically , chart link you can insert a link to a local file on your computer, or a URL to some website where you store your trading screenshots, or you can hide this column entirely.

This is where you define your currency pairs with a quick reference number and a number of decimal places. There are two number fields but the second one is filled automatically when you enter something in the first one. The second column is required for technical reasons:. The Analysis sheet becomes the most interesting one after you log some trades.

It lets you analyze your performance using a number of metrics and charts. The table ends with the columns that show the metrics of the "maximum" parameters of your strategy: profit , loss , winning streak longest sequence of uninterrupted profitable trades , losing streak longest sequence of uninterrupted losing trades , absolute drawdown how much your balance declined below its starting point , maximum drawdown largest peak-to-through percentage decline.

You can download either a pre-filled template journal spreadsheet you can replace trades with your own or clear unnecessary rows or an empty spreadsheet only initial balance transaction is logged. If the journal is empty, an occasional "Excel found a problem with one or more formula references in this worksheet. Download Forex Trading Journal 3.

Download an empty Forex Trading Journal 3. Otherwise, you won't able to reference currency pairs both by their name and number. You can set the maximum iterations value to If you have any suggestions or if you find any bugs in this Forex trading journal spreadsheet, please report them on our forum.

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Please disable AdBlock or whitelist EarnForex. Thank you! EarnForex Education Guides. Features Here are some of the features of the trading journal that you can download further below: A Welcome sheet with some basic information you can safely delete it after reading. A Currency Pairs sheet that serves to put in your currency pair settings for quick referencing and for decimal place counts.

You can ignore it, but then you won't be able to benefit from decimal places formatting; also you won't be able to just enter a small number instead of typing in the entire currency pair name each time. The number of pips for profit and loss is calculated automatically. A Commission column that can also be used to record rebates if you receive them from your broker.

A Swap column to record the swaps you pay or get from the broker. An Analysis sheet to provide detailed analysis of your trading performance. Scalpers and intraday traders wouldn't probably need some of the columns Close date or Swaps for example but they would maybe want to track the trade length. Only first 1, rows are filled with formulas. If you hit the limit, just copy and paste formulas from the final row as far down as you need. However, the more filled rows you have, the slower the journal will work.

It is recommended to create a new trading journal file for each new year or for each new month if you are scalping. Explaining the columns Let's look at the example journal that has been filled with some random trades. Currency Pairs sheet This is where you define your currency pairs with a quick reference number and a number of decimal places. The second column is required for technical reasons: Analysis The Analysis sheet becomes the most interesting one after you log some trades.

You can set the maximum iterations value to 1: If you have any suggestions or if you find any bugs in this Forex trading journal spreadsheet, please report them on our forum.

Download a PDF version of this article and read it however you like. Scalpers and intraday traders wouldn't probably need some of the columns Close date or Swaps for example but they would maybe want to track the trade length. The pressure that we all know quickly snowballs into bad trading decisions. Keeping a forex trading journal should not be dreary. However, the more filled rows you have, the slower the journal will work. The trading journal was there to help me know how many times I never accepted the loss and what impact it had on my account.

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