Keeping a trading journal

Memory is selective: we remember the great trades and forget the silly ones. A trading journal keeps an honest record.

What to record for each trade

• Date, pair and direction.
• Why you entered — which setup from your plan.
• Entry price, exit price, position size and fees.
• Planned exit if wrong and planned target.
• The result in money and as a multiple of the risk taken.
• How you felt and whether you followed the plan.
• A screenshot of the chart at entry and exit.

Numbers worth reviewing

• Win rate — the share of profitable trades.
• Average win and average loss — a low win rate can still work if wins are much larger than losses, and the reverse.
• Results by setup — some setups may lose money consistently.
• Rule breaks — trades where you did not follow the plan, and their results.

The weekly review

Once a week, read the journal and answer:

1. Which trades followed the plan, and how did they do?
2. Which mistakes repeated?
3. What one change will I make next week?

A sample entry

• Date and pair: BTC/USDT, long.
• Setup: breakout above a level tested three times.
• Plan: exit below the level; target at the next resistance.
• Result: closed at the planned exit, loss equal to the planned risk.
• Notes: entered before the candle closed; next time wait for the close.

One honest line in "Notes" is often worth more than the numbers.

Keep it simple

A spreadsheet or a notebook is enough. Consistency matters more than the tool.

This is general education. XFasil does not provide trading operations or investment advice; the Spot and Futures screens show market data only.