Forex Trading Journal Excel Template


forex trading journal excel cover

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

If you landed on this page, it’s because you decided to kept track of your trades. Keeping a trading journal is the best thing you can do to improve your profits and reduce your losses.

At the bottom of this page, you can find and download our Forex Trading Journal Excel Template for free. We only ask you to follow us on our channels to help us grow. We will also show you how to create your trading journal from scratch.

IF YOU ONLY WANT TO DOWNLOAD THE TRADING JOURNAL, CLICK HERE AND GO TO THE BOTTOM

There are many paid trading journal templates, but we believe it is easier and more productive to create your own Trading Journal Excel.

Every trader has different needs and it must take this aspect into consideration. Some traders need only a simple trading diary to keep track of their ideas, without reporting their trades.

forex journal

Even this simple habit will allow you to improve a lot.

Let’s take an example. You are thinking of opening a trade long on US Stock.

Maybe, you have done macroeconomic research and have the belief that that stock price could rise. In addition, your favorite technical indicator is signaling you a long entry.

Once you have entered long, everything that pushed you to open the trade will disappear from your memory.

You will think only if to close in profit or loss. If the operation is successful, your mood will be peaceful, otherwise, you may be frustrated or angry. We bet it will be hardly rethinking the reasons you entered the market.

IF YOU ONLY WANT TO DOWNLOAD THE TRADING JOURNAL, CLICK HERE AND GO TO THE BOTTOM

When you close the trade, you may have carried out other macroeconomic studies again and again your favorite indicator may have sent you a signal.

The trade will be ended with a profit or a loss, but nothing you have written on your trading diary or trading journal.

The next year these days you will want to take stock of your trading activity. You will have profits and losses, but they will be only numbers. Regarding the trade just ended after a year you cannot remember the reasons that led you to go long.

After a year your skills could be improved, but you won’t be able to judge the past if you don’t remember it.

You may have attended a trading course and learned that the indicator you liked so much doesn’t work.

Remember that the human mind always remembers with a filter and this filter is enhanced when emotions come into play.

Trading is all about emotions, sometimes very strong, such as disappointment, frustration, hope.

Writing your every operation in a trading diary or a trading journal will help you remember and judge your every operation with a rational mind.

At the end of this page you will find a Forex Trading Journal Excel download for free.

However, we believe that the best thing is to create your own trading journal or trading diary by adapting it to your needs.

Why you need a Trading Journal

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 we performed during the day.

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

Time passes, you can’t remember..

Let’s take an example. You are thinking of opening a trade long on US Stock.

Maybe, you have done macroeconomic research and have the belief that that stock price could rise. In addition, your favorite technical indicator is signaling you a long entry.

Once you have entered long, everything that pushed you to open the trade will disappear from your memory.

time passes

You will think only if to close in profit or loss. If the operation is successful, your mood will be peaceful, otherwise, you may be frustrated or angry. We bet it will be hardly rethinking the reasons you entered the market.

When you close the trade, you may have carried out other macroeconomic studies again and again your favorite indicator may have sent you a signal.

The trade will be ended with a profit or a loss, but nothing you have written on your trading diary or trading journal.

The next year these days you will want to take stock of your trading activity. You will have profits and losses, but they will be only numbers. Regarding the trade just ended after a year you cannot remember the reasons that led you to go long.

After a year your skills could be improved, but you won’t be able to judge the past if you don’t remember it.

You may have attended a trading course and learned that the indicator you liked so much doesn’t work.

Remember that the human mind always remembers with a filter and this filter is enhanced when emotions come into play.

Trading is all about emotions, sometimes very strong, such as disappointment, frustration, hope.

Writing your every operation in a trading diary or a trading journal will help you remember and judge your every operation with a rational mind.

At the end of this page you will find a Forex Trading Journal Excel download for free.

However, we believe that the best thing is to create your own trading journal or trading diary by adapting it to your needs.

We learn from our mistakes.

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 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.

The essential items of your trading diary

    Trade opening time

    Currency pair

    Long / Short

    Entry price

    Stop loss

    Target

    Closing price

    Gain / Loss (in pips)

    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.).

How to import data from Yahoo Finance to Excel tutorial cover
How to import data from Yahoo Finance to Excel: read here

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 and take-profit.

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 consolidate.

Do I get excellent 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 abandon the less productive couples or try to improve the results on those.

    Do you come out of time?

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

    Prices to the target?

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

    Recurring patterns

Especially with the help of the screenshots, we can notice it 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.

Finance Strategy System Forex Trading Journal Template

This is our template:

finance strategy system trading journal
finance strategy system equity line journal

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 this 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.

The simple Trading Diary

A trading diary will have a very simple template and you will not need to enter all the information.

The principal purpose of a trading diary is to remember the reasons we opened the operation.

It will be very useful for those who use fundamental analysis or diversified trading systems.

For example, if you are a trader who only uses overbought levels or oversold levels to enter a trade, you will not need to remember your motivations.

If instead you buy shares based on the fundamental analysis, you will want to remember which analysis led you to open the trade or which economic indicators you analyzed.

To make a trading diary, we will use Microsoft Word and organize each operation in a single Word page.

We will place the Word page thus created and named in a different folder for each month of the year.

We can write something like this:

Trading Diary of 02.04.2020

We are approaching an economic recession. I found this interesting analysis of Apple on Seeking Alpha.

The RSI indicator I’m following is telling me that Apple is in an oversold zone, so I buy the $ 10,000 amount. I will close the operation when the RSI indicator returns to overbought.

Trading Diary of 15.03.2020

I found this analysis on ZeroHedge and decided not to wait for the RSI indicator but to close within this week.

As you can see it is very simple and does not require a big effort, but imagine after a year how many useful information you could have by looking at your track record.

How to create a Trading Journal Excel

An Excel Trading Journal requires entering much more data. We will use Excel because it will be necessary to perform some calculations automatically.

Our advice is to use a spreadsheet for each strategy.

For example, if I carry out operations on the shares of the US market using an RSI indicator, I will dedicate a special trading journal Excel to this strategy.

This sheet is very easy to create and you can add the items you will need.

trading journal excel

As you can see, everything is very simple. All you need to do is enter your initial capital and only some details of the transaction in the excel trading journal.

If you always use the same stocks, you can create a drop down list to speed up the insertion with an automatic selection.

How to take a screenshot of a chart

In each note we should add a photo of the chart used with your indicators. We should do the screenshot of the chart at the exact moment we open the trade.

We shouldn’t wait because future price movements would change the view of your trade.

If you use MetaTrader4 you can use a function already present on the platform that allows you to extract a screenshot of the chart.

chart screenshot with metatrader
How to capture a chart picture with MetaTrader4

Once you click on “OK “, to automatically will open a web page with screenshots. You can right-click on the photo and save it on your hard disk, or share it online through the links.

For example, if you want to write a post on ForexFactory.com, just paste the link in the post and it will autoload the image.

Another very simple method to take a screenshot of a chart is to use a free tool already present in windows.

We are talking about the Snipping Tool. If you have never used it or you don’t know it, write snipping tool in the search bar.

snipping tool screenshot a chart

If you want to add effects or shapes or writings to your screenshot, you can use the free software Microsoft Paint. For a more professional work there are paid tools such as SnagIt from the manufacturer of Camtasia that allows you to make cutouts like the snipping tool but has advanced editing functions.

To edit your graphic you can use Photoshop or an interesting free alternative: GIMP.

The best free and online platform to find charts is TradingView.

TradingView is a free site with many useful functions and technical analysis indicators, you can also find trading ideas and sentiment indicators.

How to create a drop down list in Excel

Select all cells and click on “Data” and “Data Validation”.

How to create drop list in a trading journal excel

Choose “list” and enter all the equity securities you need separated by a comma.

How to create drop list in a forex trading journal excel

As you can see, it will be very easy and fast to select your favorite titles.

Forex Trading Journal Excel and Cryptocurrency Trading Journal

To create a Forex Trading Journal Excel you can follow the procedure just illustrated . Just as you could create a Crypto Trading Journal or a Stock Trading Journal Spreadsheet.

To create a Cryptocurrency trading Journal, just edit the drop down list in Excel by entering your favorite Crypto.

Again, our advice is to use one sheet for each strategy. This petty trick will allow you to really keep track of the profitability of your trading ideas.

Options Trading Journal

If you need a trading Journal for Options, you can use the Forex Trading Journal and change some entries.

The essential information that you need for a good Options Trading Journal are:

Data Open – Data Close – Instrument – Buy / Sell – Call / Put – Position Size – Strike – Expiry Date

This information will allow you to keep track of your every operation with the options.

Adding more information

In a Forex Trading Journal Excel, it would be necessary, even insert the Risk/Reward ratio of every trade.

So we will change the previous Trading Journal, also inserting the entries:

Size – Entry Price – Exit Price – Stop Loss – Take Profit – Risk Reward

adding a button in a trading journal

Trading Journal without Excel: paid and free cloud spreadsheet

Trading Journal Interactive Brokers

Interactive Brokers is the most famous international broker. Its proprietary platform is Trader WorkStation and also allows you to create a trading journal.

To create you trading journal open the Mosaic.

Trading Journal tws interactive brokers mosaico

Click on “New Window” and select “More Advanced Tools” and “Trader’s Journal”.

how to open trading journal with interactive brokers mosaic

You can insert notes and possibly a screenshot of the graph of the instrument used.

This system is very rudimentary and you won’t have the possibility to easily insert some details like on excel .

This will not be the best trading journal software .

However, it is still a starting point and it will make the difference if you just insert a slight note in the margin of your trades.

Using Evernote as a Trading Journal

Evernote is a very useful free application to manage notes and manage them in an organized way.

With Evernote, you can also access your notes from your smartphone, and therefore it could be an excellent solution for the creation of your trading journal.

Register on the Evernote.com site and start adding notes, with Evernote you will have a Cloud Spreadsheet Trading Journal.

By downloading Evernote to your mobile phone, you will have a Journal App Trading which will be very useful for working on the move. For example, if you trade from your smartphone, you can take a screenshot of the screen and immediately enter the note in Evernote.

Tags are useful tools in Evernote. With the tags, you can divide and search your trades according to the instrument or the technical indicator or the input signal.

Trading Journal with One Note

OneNote is a service included in the Microsoft Office package. Also, in this case, it is a cloud spreadsheet trading journal that will be updated on all your platforms and can be used by a smartphone.

If you use an iPad, we advise you to test this convenient solution because from the tablet you will make the most of the service.

OneNote is an excellent platform to organize your notes and inserting screenshots.  You can enter handwritten notes on your graphics also using the Apple Pencil.

Google Spreadsheet Journal for trader

Google also allows you to create your Cloud Spreadsheet Trading Journal .

The procedure will be very simple and you can copy the template we used for Excel.

We have found a ready-made spreadsheet on the Intelligesttrendfollower.com website at this address:

This is what you will download:

google spreadsheet trading journal
You can find the complete article here

StockTrader.com Journal

If you don’t want to use Excel, you can find many free and paid trading journal services.

They are online platforms that allow you to insert and update the trades made, let’s see which ones you could use.

If you need a stock trading journal, you can use the one provided free from the StockTrader.com website.

You will have to enter your email and register for the service. Adding trades is very simple, just enter the symbol, the date of entry, the price and the amount.

Automatically the software will create the operation on the graph, as you can see in the photo below you can insert some notes, the tags (as in Evernote ) and a screenshot of your chart.

stocktrader trader journal

This service is complete, but only allows you to enter stocks.

Conclusion Forex Trading Journal Excel Spreadsheet

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

With this, we 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 because of excessive analyzes).

However, a successful trader is methodical, tries, experiments, studies, verifies; if something works, we hold it; otherwise, we 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, his performance.

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