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The trading journal: the minimum that actually works

The eight fields that matter, the weekly review that finds the leak, and why your paper trades belong in the same journal.

Why a journal is the only guaranteed edge

Indicators are hypotheses. A journal is evidence. After fifty trades it will tell you what you actually are: which setups pay, which leverage levels destroy you, which hours you should not be awake. Nothing else in trading has a guaranteed positive return, and this one costs ten minutes a day.

Per trade

Date and time, pair, direction, leverage, entry, stop, exit, and the result in R, meaning multiples of the planned risk. Add one honest sentence: why you took it. "Looked strong" is a confession, not a reason, and that is useful to see in writing.

Weekly

Win rate, average R, largest loss, and a column called "not in the plan". Sort by that last column. The trades that were not in the plan are almost always where the money went. Then sort by leverage: nearly everyone finds their worst results at their highest leverage, and that is the number to cap.

Paper trades count

Log simulated trades exactly the same way. If your paper journal is green for months and your live journal is not, the strategy is fine and the problem is sizing or nerves. That is a precise diagnosis you cannot get any other way, and it is the strongest argument for taking paper trading seriously.

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