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!

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 to improve your profits and reduce your losses.

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

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

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.

trading journal image

Maybe, you have done macroeconomic research and have the belief that that stock price could rise. Also, 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 you’ve closed the trade with a profit, 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.

You will end the trade with a profit or a loss, but nothing you have written in 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 that just ended after a year, you cannot remember why you 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 powerful, such as disappointment, frustration, hope.

Writing your every trade in a trading diary or a trading journal will help you remember and judge your every trade 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. Also, 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.

Forex journal importance for tracking trades

You will think only if to close in profit or loss. If the trade 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 in 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 that just ended after a year, you cannot remember why you 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 robust, such as disappointment, frustration, hope.

Writing your every trade in a trading diary or a trading journal will help you remember and judge your every trade 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 review them, thus pushing you to think about the trades and don’t forget about them.

Therefore, it is 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.

Building a trading journal is relatively simple for anyone with the necessary computer skills to create an Excel worksheet: the columns will contain the categories. In contrast, 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 and write critical comments such as emotions at the time of opening the trade, the reasons for opening, closing, obstacles, doubts, etc.).

Some questions that the diary can answer

    Winning percentage of the strategy.

An idea of ​​our system’s success rate 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 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 cross is 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 cross 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 screenshots’ help, we can notice that a particular price formation consistently brings positive or negative results. The next time we see a similar pattern, we will know how to behave.

Forex Trading Journal Template First Version

In the image below, you can see our first template version, developed 3 years ago:

journal forex example with excel first version spreadsheet

journal forex example with excel first version graph

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 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 straightforward 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 trade.

It will be handy 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 trade 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 tells me that Apple is in an oversold zone, so I buy the $ 10,000 amount. I will close the trade 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 effortless and does not require a big effort, but imagine after a year how much useful information you could have by looking at your track record.

trading journal image

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 US market shares using an RSI indicator, I will dedicate a particular trading journal Excel to this strategy.

This sheet is elementary to create, and you can add the items you will need.

trading journal excel

As you can see, everything is straightforward. 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 to extract a chart’s screenshot.

Metatrader how to save a picture for your trading journal
How to capture a chart picture with MetaTrader4

Once you click on “OK” to automatically open a web page with screenshots, you can 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, paste the post’s link, and it will autoload the image.

Another straightforward 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 don’t know it, write the search bar’s snipping tool.

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 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”.

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

step excel tutorial create a forex journal template

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, 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 trade with the options.

Adding more information

A Forex Trading Journal Excel would be necessary even to insert every trade’s Risk/Reward ratio.

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

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

Excel very simple trade journal template risk reward section

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 your trading journal, firtly open the Mosaic.

Interactive broker trading journal tracking trades

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

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 insert some details like on excel easily.

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

Using Evernote as a Trading Journal

Evernote is a handy 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 creating 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. You can divide and search your trades according to the instrument or the technical indicator, or the tags’ input signal.

Trading Journal with One Note

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

If you use an iPad, we advise you to test this convenient solution because you will make the most of the tablet’s 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 a trader

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

The procedure will be straightforward, 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:

download the Google spreadsheet journal trading example
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; type the symbol, entry date, price, and 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.

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 it 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 to improve his technique and performance.

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Forex Trading Journal Excel Download

trading journal image