Building a trading process · Lesson 2 of 3
Keeping a useful journal
Record the setup, costs and context, not just the result.
8 minute read
Record the plan and the costs
For each trade capture the instrument, direction, entry and exit, size, time, reason, planned stop and target, and the fees and slippage you experienced. A screenshot at entry is worth keeping because memory is a poor record of what you saw.
A one-line note on the wider market context helps later, since a setup may work in one regime and fail in another. Costs are included so your results are not overstated across many trades.
Key takeaway
Use these concepts to understand the market, not to assume a particular outcome. Always define uncertainty and risk before making a decision.