SkyTrade
Sign up
FeaturesPlatformSecuritySign in
Glossary · Trading basics

Trading journal

A record of every trade — setup, reason, result and state of mind — used to find out what really works and which mistakes you repeat.

By Sky Trade editorial teamUpdated

A trading journal is your own data set. Memory is a poor record keeper: it inflates wins, forgets impulsive trades and invents patterns. A journal fixes that by writing everything down while it is fresh.

Useful columns: date and time, instrument, direction, stake, expiry, payout, result, the reason for the trade in one line, and a word for your mood. After a hundred or so entries you can sort and ask real questions. Do I win more in the morning? Are my trades right after a loss worse? Is one setup carrying all the others?

The classic mistake is journaling only the good trades, or stopping after a bad week — exactly when the data is most valuable. Another is collecting numbers and never reviewing them. A short weekly review is where the journal pays for itself.

Your Sky Trade trade history gives you the raw facts (time, instrument, stake, result); the journal adds the part only you know: why you clicked. It is also where you compare your win rate with break-even. More in the trading journal guide.

Example

Reviewing 120 logged trades, you find 40 were opened within two minutes of a loss and only 15 of them won (37.5%), while the other 80 won 56%. That is a rule worth adding to your plan.

Learn more in the academy

Related terms

Practise first, then decide

Every Sky Trade account comes with a $10,000 demo balance on the same prices and payouts as the real account. Create an account or read how the demo works.

Create an accountAbout the demo account