To provide valuable tools to traders who aspire to excel in their trading business. To help traders recognize when specific actions are becoming detrimental to their account. To always offer the very unique Trading Journal Spreadsheet at a viable cost, and to give each client specialized service, and value for their money.

Where Trades Come to Life! Get to know, the We created tons of amazing features and functionality in each TJS product. Expectancy figures for all categories. TJS Trading Log User friendly, aesthetic design, and a plethora of great features and functionality, including: Fixed header with cumulative results. Equity-curve graph with filter. R-multiple Scatter Plot graph except Options Embedded instructional tips.

Comprehensive, per trade analysis. Trade Review, for each trade. TJS and Microsoft Excel Why Excel? Mac users will need Excel or greater , or Office Windows users will need Excel or greater , or Office Does It All This spreadsheet does it all for you. Plan It. Trade It. Analyze It. Watch Your Trading Improve.

Contact Us! All Rights Reserved. Your major weaknesses. How well you are performing. Where to focus to improve the amount of money you make on trades! Why you need a forex trading journal:. Don't let the word "journal" confuse you into thinking its a place you just write a few lines about your trading decision and you're done! Contrary to popular belief, your journal needs a highly accurate number crunching system and must include these 3 features:.

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In this article, I will break down every component of the best trading journal there is, and how to make it yourself! In the simplest way possible, a trading journal is a place where you manage your trading portfolio and manage your self-control. Not only does it track your progress, but it also clearly identifies areas to improve your trading returns.

The trading journal has a historical log of your decisions, calculators to determine your current performance, and indicators to show you where you need to improve. I'll show you how to access and use all this fancy stuff in this article If you don't have a trading journal, it's impossible to consistently scale your trading account.

Like with anything where you want to succeed, keeping a track record of everything is crucial. An elite powerlifter uses journals to keep a log of what makes them stronger, what foods increase recovery, how different methods impact their results. A mad scientist use journals to discover the undiscoverable.

Forex traders the successful ones at least use it to focus on their performance and pinpoint exact areas of improvement to increase profitability. It gives you a lot of those "ah-ha! Some of these "ah-ha" moments include:. The ideal amount to risk to maximise your return-on-investment. When you start trading, the worst feeling is a trade going wrong and not knowing why. The question looms over you, and inevitably causes you to make worse decisions over time One of the hardest truths to face is that no trader is perfect, and you're not perfect I'm not perfect When using a proper trading journal, all those questions of:.

The immense value of noticing whether it's your idea generation, risk management, or a bit of both that are holding you back With a journal you can identify how to eliminate the huge "drawdowns" when trading. Put simply, you'll easily be able to see what's causing you to lose money, and nip it in the bud.

If you are able to minimise your losses in this way, the profits will look after themselves. That's the trick to running a long-term consistent trading portfolio! You're making a bit of money trading, things are going well The problem is, how do they know you're any good? Your trading journal is the evidence that investors need before they give you a dime! Just making money alone isn't enough proof.

What makes you a good trader is knowing the risk you've taken in order to achieve those results. For example, if you risked all of your money on "black" at the roulette table and doubled your money, All of a sudden this isn't a very attractive investment at all. If it goes wrong once, you're bust As a trader , your aim is to make a lot more money in return than you put on the table in the first place.

This gives you a nice cushion to soften the fall each time you're wrong. If you can prove to others that you're taking a small risk, and generating a steady return It compounds itself, whether or not you seek additional investment. And yes, the only way to do this is with a well-kept journal that tracks the right information. Any trading journal that is just a log of your trades, and how you were 'feeling' at the time when entering is not going to do you any justice in the long-run.

Before writing this article I did a bit of research for myself what was out there already with regards, and I was not impressed. In fact, It's what actually drove me to create the content you're reading right now. I've broken this down into 3 red-flags Generally speaking, if the trading journal is focusing too much on "non-measurable" things, it's not going to be any use to you in the future.

Also, if it's measuring the wrong things it's also going to be useless. The "time-frame" you're trading useless measurement.

Trading Journals are for Post Trade Analysis

When you enter a trade, the time-frame you looked at doesn't impact the trades performance in the slightest. Time will always be time, you should be looking at the assets change in price over time. If you narrow yourself to only look at a few time-frames, your trading approach is heavily flawed.

The "setup" with "screenshots of the trading chart" waste of time. Your strategy shouldn't change trade-by-trade, so this doesn't need to be tracked if you know what you're doing. In fact, if you're tracking this on a trade-by-trade basis, you're probably already losing money as you don't have a proven edge! Your stop-loss is already measured using your volatility measurements. Tracking this number doesn't really have any future value, as your stop-loss will change based upon volatility as time goes on.

The Entry Price and Exit Price of trades already tracked in your brokerage. Tracking irrelevant details, like entry price and exit price, is of no use to you to determine where to improve. If you find yourself journaling in this way, let me show you what you really need to be doing if you're looking to scale your skills as a trader A good trading trading journal will have everything you need as a trader all in one place.

This must include the following:. A watchlist - to build up a wide selection of trades before you actually trade them. Trade log - to log all of the returns on each trade you've actually entered to determine the Kelly criterion we'll discuss more later why this is important!

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Performance - a complete deconstruction of your portfolio performance, from alpha right the way to success rates But Marcus, how do I build all of these sheets? The answer: Microsoft excel, or google sheets. I've already built the ideal trading journal , and I'll show you exactly how to use it step-by-step below You'll be happy to know I've done all the hard work for you and uploaded the exact forex trading journal template file I use every week.