So I simply would recommend a google document spreadsheet instead of creating an excel file. Sure, record the typical information about your trades like price levels etc.
forex trading journal excel spreadsheet In Title
You really do help us guys and i just want to say a big thank you for doing this journal, really appreciate it. Excellent tool to use — sets things out really well and makes things that little bit more easier. It is vital to trading you keep records and this excellent yet simple tool does that — thanks Nial.
Excellent comment from Graham — could not agree more. It takes a lot of time to learn to trade but with Nial you have an edge that will make it a lot easier and shorten the learning curve. Did anyone open the file without a zip software?? I am moving into my new trading office shortly and although I have a trading journal, I am always looking for new ideas.
Keeping a balanced emotional state with a proven trading journal tool like this is a record of fact, I can not deny. Thanks for your lesson Nial.
I have a book with statement month printed filed. Nail, this is a very wonderful job, i only pity for those that have not registered your course yet. Nial, your course and your lessons rock, I am loving the daily commentary you post up, it all helps: Your article is once again priceless. Thank you for sharing it, I find it very helpful.
It takes perseverance to accomplish a professional trading behaviour and with Nial providing both the stimulus and guidance I can see my way ahead. Thanks Nial for your help. Your email address will not be published. Any Advice or information on this website is General Advice Only - It does not take into account your personal circumstances, please do not trade or invest based solely on this information.
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Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results. Why do I need a Forex trading journal Nial? What should my trading journal include and how do I make one? How much money can you lose on the trade? How much money are you aiming to make on the trade? How many pips you gained or lost on the trade. How much total money you made or lost on the trade. Date the trade closed. Final thoughts Documenting your Forex trading results is a necessary component to becoming a professional Forex trader.
Checkout Nial's Professional Trading Course here. Kelly July 16, at 1: Thanks very much i will do this most important task and am sure mt trading will improve. Prashant Sarnaik May 16, at 4: Tee Padgett May 11, at 7: Jprasaad January 22, at Ashley Hubbard December 4, at 6: Awesome Trading Journal Nial! Your mentoring is among the best of any I have followed in my 8 years of trading forex.
Keep up the good work. Kind regards, Clinton Webb Reply. Morena October 12, at 8: You open mind and create inspiration. Alexander Roman February 9, at Thanks again for your help and guidance Reply.
Paul Stewart January 26, at 1: Jack January 23, at 6: Chip May 25, at 1: Woodrow May 9, at 8: Glen Parker January 30, at 2: Thx Nail, big thumb up for this article. Jinesh December 2, at 2: RR October 14, at Mahdi hatami June 8, at 7: Daniel May 28, at 2: You are a gifted teacher. Anna February 26, at 7: I will use urs… Reply. Haroun Kola February 25, at Bram February 24, at 5: Yemi Fayawo August 7, at 3: Kahn May 26, at 8: WEss February 18, at 1: Jack Maverick January 17, at 7: Sorry for my english i am from Ukraine Reply.
Mahdi September 24, at 2: Thank you for the trading journal,it is very useful mahdi Reply. Jay September 22, at Rao August 7, at 4: Thanks just downloaded your speadsheet.
Earl M July 21, at 1: Thanks Nail for the trading journal really needed it! Allen July 8, at Thanks Nail for being so genuine. You are a true hero in this business. William June 2, at 8: Thanks Nail for the wonderful write up. Tom May 30, at 4: People that use more than one broker, note in the journal which broker the trades are with?
Thanks Nial for the spreadsheet journal, very useful! I have set mine up! Tomson May 18, at 5: Hi Nial, Thanks a lot, I have added one more column to mine also: What happend after Exit?
Anthony May 17, at Thanks Nial, another vital trading tool you have supplied for this community. Rocket May 16, at 9: Nial, Another great article to help us maintain trading discipline and become successful. Zack May 14, at Daljit May 12, at 7: MaxForex May 11, at 9: Keep up the good work! Hamsah May 11, at 2: Very good explaination, thks Nial. Hai Nial, Your article above helped me on the track.
Benard May 8, at I will complet my trading journal with yours. Daniel May 8, at 1: Adam May 7, at 7: Let me briefly explain: Thanks again Nial, God Bless! William May 7, at 5: Thank you Nial, This is a gem. Many thanks for your constant lessons. Best regards, William Reply. Kotijett May 7, at 9: JHW May 7, at 5: Gurpal Chagar May 7, at 5: Hi Nial, Hope you are well.
Thanks for another informative and brialliant article. Thanks and Regards Gurpal Reply. Alex May 7, at 3: Ramli May 6, at Ed May 6, at 9: Thanks Heaps Nial Reply. Kingsley May 6, at 9: Mohamad Fauzan May 6, at 9: Ezzywave May 6, at 9: Thanks and cheers EW Reply.
Filopastry May 6, at 8: Kenny R May 6, at 8: Ray May 6, at 8: Great stuff — I shall adopt your journal! Parakrama May 6, at 8: Souto May 6, at 8: Zac May 6, at 8: Paul May 6, at 7: Thanks Nial, You really do help us guys and i just want to say a big thank you for doing this journal, really appreciate it Reply. Adam May 6, at 7: Hi, Excellent tool to use — sets things out really well and makes things that little bit more easier.
Good luck all Cheers, Adam Reply. Zac May 6, at 7: Steve May 6, at 7: Thanks for your lesson Nial You seriously have my attention. Forex is a cut throat industry, you sink or swim. You need to do everything you can to ensure your head remains above water. Being fully accountable is going to actually make your life a lot easier in many ways.
The trading industry is filled with losers, excuse makers, pretenders and people with unrealistic expectations of Forex trading. Your Forex trading journal is a superior way to reinforce accountability. All of this needs to be recorded in your trading journal. Recording negativity in your journal may seem counter constructive; but you can use this data , and turn it into a positive.
We all know very well the emotional roller coaster of being a Forex trader. Sure we know that Forex losing streaks are very normal. Here is another one.
What about winning trades? Go through your Forex trading journal and find consistencies with all the trades that worked out. You stuck to the plan left the market do what it had to do. Every trader is different and they are going to have unique challenges to face in their trading. Another powerful way to use your Forex trading journal is to review it before taking any action in the market.
For example, you may be thinking about entering a pin bar trade. The original plan was to go for the retracement entry. After you look through your Forex trading journal, you can quickly reflect on the many times when you have entered trades impulsively in the past with an undesirable outcome; this should be a red flag to you.
If market breaks out and ends up turning into a breakout trap, your Forex trading journal would have saved you from entering a bad position. Review it when you have those urges to intervene on an open position, like: Forex trading journals are like having an experienced trader next to you, giving the best advice for each situation.
When you start utilizing the full potential of a Forex trading journal, it becomes your best friend each time a trading decision needs to be made. The Forex trading journal keeps you accountable, forces you to learn from your mistakes and gives you crucial feedback that you need to develop your trading skills.
You will have these thoughts fresh in your head the moment you look at the markets. Do everything you can to keep yourself disciplined.
I hope to see you on the other side. Until next time, all the best with your price action trading. Please share this article using the social buttons below. Follow the download button below if you would like to try them out: Hi Forex Guy,I just wanted to let you know how much I appreciated this article.
I've been reading through all these and though I've been impressed by them - I almost skipped this one! I've never taken "journaling" seriously and it's not a topic that really interested me.