Many thanks, Nial… I was about to create my own when I thought of Googling a solution – you came up #3 (and the first “free” option!). Need a Free Forex Trading Journal Spreadsheet? How To Create Your Own Trading Journal In Excel Very important! Step 3 - Write down why you exited the forex trade position. As long as they contain the basic components laid out in the previous section, trading plans do not have to be complex. Here’s a typical journal entry example. Recommended Reading Recommended Forums. In this way, a trading journal works to keep you accountable, you need something to be accountable to as you trade, because there is no boss looking over your shoulder threatening to fire you if you don’t do XYZ exactly right. Step 2 - Write down how you will exit the forex trade BEFORE making the forex trade transaction. Thanks Heaps Nial. OBV has broken upward trend and the market now is bearish. I know, it’s a bold claim, but it’s just impossible to be successful at trading without keeping good records. I have hope to achieve my goal now. Cheers! – Exit Price: What price did you actually exit the trade at? Day- The Daily MA were to crossover but because of the retracement, headed right down again with a big black candle(250 pips), MACD was bearish, RSI at 22heading down and bollinger bands pointing down, volatility was high. :-). Thanks. The most common reason why people deviate from their forex trading strategy is lack of discipline. However, this is the same trading journal I use; you can use it too if you like, or tweak it to your desire. A REST API communication between Metatrader forex trading platform and an external application, such as the Forex General integrated trading environment. On the surface a journal helps evaluate performance but applied properly it should go much deeper than the results. You may wonder why it is necessary to keep a separate trading journal, since just about every broker provides a real-time record of your trades. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Day- MACD was in bullish territory above zero center line, RSI was below 50 but pointing upwards, the MA were flat, bollinger bands were pointing upwards and volatility was low. Keeping a trading journal while trading — when the action is happening — actually could be counter-productive and lead to missed trades. This fantastically simple trading log was designed to get used, just enter the ticker / currency pair and pips won/lost and the rest is done for you. Do not let this information on your Forex journal go to waste. The Bare Minimum: 5 Things You Must Keep In Your Trading Journal. Thank you Nial for these free articles you’ve provided for aspiring traders like us. Your forex journal is gold. All rules for the system were met before opening the transaction. This template will help you think about the sort of questions and rules you need to create in your own trading plan. Why do I have to write it down? The support forum is built with (1) a Q&A format for common trading queries received from wannabe and experienced traders, and (2) a standard forum for course video topics. Thank you Nial, your trading journal is really simple to follow, will start using it from now on. thanks for the forex trading journal Nial, it’s very useful to track my trading records. As in the forex trading journal Excel example above, your journal might contain information such as the currency pair traded, size of the trade, whether your position is … Thanks a lot. The past performance of any trading system or methodology is not necessarily indicative of future results. Correct.. being accountable, and having something to reflect on and keep you in line mentally. – Possible $ Risk: How much money can you lose on the trade? This platform has dozens of functions, and you might feel overwhelmed at first. Thanks Nial,I am a novice to Forex, I purchased your course, and I am changing from the inside (My mind set).