A journal full of entries, exits and P&L is a trade history. Your broker already has one. A journal earns its keep only when it records the decision.
The six fields that matter
| Field | Why |
|---|---|
| Setup name | Forces you to name it, which forces it to be defined |
| Was it in the plan? (Y/N) | The single most valuable column in the whole journal |
| Risk % used | Reveals size creep before it breaches you |
| State before entry | Calm / rushed / recovering a loss |
| Exit reason | Plan / fear / greed / stop |
| Result | Last, deliberately — it is the least informative field |
Grading decisions, not outcomes
Four combinations exist: good decision + win, good decision + loss, bad decision + win, bad decision + loss. Only the first and last are unambiguous. The dangerous one is bad decision + win — it teaches you to repeat the behaviour, and it is the reason outcome-based journals make traders worse.
A weekly review in ten minutes
- Count trades where plan = No. Is that number falling?
- Check average risk % on losing days against winning days.
- Identify your single worst decision and write one sentence on what you will do instead.
- Stop. A longer review is not a better one.
Frequently asked questions
What should a trading journal include?
The setup name, whether the trade was in your plan, the risk percentage used, your state before entry, the exit reason, and the result last. The 'was it in the plan' column is the most valuable field.
How often should I review my trading journal?
Weekly, for about ten minutes. Count plan deviations, compare risk on winning and losing days, and pick one behaviour to change. Longer reviews do not produce better outcomes.
FundedAxe evaluations and funded accounts are simulated. Traders do not trade real client capital; rewards are paid on simulated performance under the terms of the FundedAxe trader agreement.