What to track in a trading journal (and what to skip)
A trading journal only works if you keep it, and you only keep it if it's quick. The trick is to log the few things that actually change your trading, and skip the rest.
The 10 fields worth logging
| Field | Why it matters |
|---|---|
| Date and time | Shows which days and sessions you trade best and worst. |
| Symbol | Some markets suit you better than others. |
| Long or short | Many traders are noticeably better on one side. |
| Net P&L | After commissions, straight from your platform. The number that counts. |
| Risk | The dollars you risked. Lets you measure results in R, not just dollars. |
| Setup | The single most useful field: which of your setups actually pay. |
| Chart screenshot | Your memory of a trade fades in days. A screenshot doesn't. |
| Why you took it | One or two sentences. Patterns in your reasons show up fast. |
| Followed the plan? | A quick rating separates bad trades from bad luck. |
| Account | For prop traders: which evaluation or funded account it was in. |
What to skip
- Long essays. If it takes ten minutes per trade, you'll stop by Friday.
- Dozens of tags. Five setups you actually trade beat fifty labels.
- Entry and exit prices to the tick, unless you really review execution. Net P&L and a screenshot cover most of it.
- Mood scores on every trade. A note on the days emotions clearly drove a trade is more useful.
The stats to review each week
Logging is half the job. The other half is a 15-minute weekly review of a few numbers:
- Win rate: the share of trades that made money. On its own it means little.
- Average win vs average loss: a 40% win rate is fine if your winners are twice your losers.
- Profit factor: gross profit divided by gross loss. Above 1 means you made money overall.
- Expectancy: what you make, on average, per trade.
- P&L by setup: do more of what works, and cut what doesn't.
- P&L by weekday: many traders find one day consistently costs them.
A simple weekly review
- Look at your P&L calendar. Which days were red, and why?
- Open your three biggest losses and look at the screenshots. Plan or mistake?
- Check P&L by setup. Is one setup carrying you, or dragging you down?
- Write one rule for next week. Just one.
For prop firm traders: two extra things
If you trade evaluations or funded accounts, also track drawdown room left on each account (see how trailing drawdown works) and fees vs payouts, so you know whether prop trading is actually paying you after evaluation costs.
Keep it in one place
A spreadsheet works, but it doesn't show screenshots well and the stats take effort. TraderMemo was built around exactly the fields above. Log a trade in seconds with the chart pasted in, and it works out win rate, profit factor, expectancy, setups, weekdays and your P&L calendar for you. Your trades stay on your device, not our servers.
A simple trading journal that keeps you honest
Screenshots, setups and the stats that matter, plus a Prop side for evaluation and funded accounts.
14 days free, no card needed. Then $6.99/month.
Frequently asked questions
What is the most important thing to track in a trading journal?
Your setup and a chart screenshot for every trade. Together they show which trades actually make you money, which is the point of journaling.
How often should I review my trading journal?
A short review each week works for most traders: look at your P&L calendar, your biggest losses and your results by setup, then set one rule for next week.
Should I track emotions in my trading journal?
A short note when emotions clearly drove a trade is useful. Scoring your mood on every trade usually just slows journaling down.
TraderMemo is not affiliated with, endorsed by or sponsored by any prop firm or broker mentioned here. Firm names are used only to describe their published rules. This article is for education only and is not financial advice. Trading futures involves substantial risk of loss and isn't suitable for everyone.