Forex Trading Journal Excel Template

Are you looking for a Forex Trading Journal Excel Template? You found it, and you can download it for free!

This is our template:

Forex Trading Journal Excel Template

                                                                  Forex Trading Journal Excel Template: the chart

As you can see, it provides a lot of useful information such as the Average Trade and the Average risk-reward ratio.

The only thing you will have to do is to enter the trades you have executed and the relevant result.

With our Forex Trading Journal Excel Template, you can finally keep track of your every trade.

You can improve by reviewing your trades and understand what your real statistics are.

But now let’s see better why it is so useful.

The best way to improve in trading is to keep a trading diary.

It is like a paper diary, but above all in spreadsheets where we record the trades that we performed during the day.

Because if it is true that in trading, every situation is always unique, it is also true that similar cases repeated constantly.

By reviewing your trades, you can learn a lot because you can draw many fundamental indications.

Remember: We learn from our mistakes. dd

Forex Trading Journal Excel Download SpreadSheet of this tutorial from this LINK.

Why You Need the Forex Trading Journal Excel Template

Having a diary allows you to record the trades and be able to review them, thus pushing you to think about the trades and don’t forget about them.

It is, therefore, essential to take time every day to review your trades and try to analyze if there are errors or recurring positive factors to try to eliminate the former and strengthen the latter.

To build a trading journal, it is relatively simple for anyone with necessary computer skills to create a worksheet in Excel: the columns will contain the categories, while the rows will contain the trades.

Position size calculator

                                            Forex Trading Journal Excel Template: Position size calculator

The essential items that a trading diary must necessarily have are:

  1. Date
  2. Trade opening time
  3. Currency pair
  4. Long / Short
  5. Entry price
  6. Stop loss
  7. Target
  8. Closing price
  9. Gain / Loss (in pips)
  10. Notes

This will eventually allow you to find the trades in the chart and go to review them.

In the notes, it is important to be brief, but to write critical comments such as emotions at the time of opening the trade, the reasons for opening, closing, obstacles, doubts, etc.).

Here are some questions that the diary can answer:

  • Winning percentage of the strategy.

An idea of the success rate of our system can be useful to calculate the size of the position and estimate the profit targets

  • Average stop-loss amplitude.

Helps determine the optimal size of positions to meet money management criteria

  • Times of the day more profitable.

Depending on the answer, we may decide not to trade at a particular time of the day or try to strive to improve in that period, where perhaps the trading conditions are different.

  • Short or Long?

Are Shorts or Longs usually more profitable? How much? We could only look for short or long entries or investigate the reasons for any difference in performance

  • Preferred currency pairs

Each currency moves differently from the others; some couples respect more technical levels others less. Any couples are more volatile; some continue in lasting trends; others tend to consolidate.

Do I get good results in EUR / USD but not in GBP / USD? This information can help us better select which couples we can trade better with our style.

We could choose to abandon the less productive couples or try to improve the results on those.

  • Do you come out of time?

We may find that we tend to come in too early, and waiting for an extra candle, we may get better results.

  • Prices to the target?

We may tend to close positions prematurely, but the diary tells us that prices on average tend to reach the target we set ourselves.

  • Recurring patterns

Especially with the help of the screenshots, it can be noticed that a particular price formation brings positive or negative results consistently. The next time we see a similar pattern, we will know how to behave.

Conclusion Forex Trading Journal Excel Spreadsheet

These are some ideas; there are dozens of other questions that a journal can help answer.

With this, I do not want to tell you to analyze the trades more than necessary because then we fall back to the opposite problem, the so-called analysis paralysis (the psychological block due to excessive analyzes).

However, a successful trader is methodical, tries, experiments, studies, verifies; if something works, it is held; otherwise it is set aside.

However, this cannot be done by sensation, but it takes statistical proof to prove it. Only in this way will the trader make effective decisions aimed at improving his technique and, consequently, his performance.

trading journal chart

                                                               Forex Trading Journal Excel Template: the chart

From Investopedia: 4 Reasons You Need a Diary for Both Good and Bad Forex Trades


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