Separate decision quality from outcome
A trade can follow every rule and still lose. Reviewing whether the plan was followed, independently of profit and loss, is what makes a journal useful.
Pre-commit to limits
Daily loss limits and maximum position counts are far easier to set before a session than during one. Written limits remove the need to make judgement calls under pressure.
Frequently asked questions
How detailed should a journal be?
Enough to reconstruct the decision: setup, reasoning, size, stop placement and how closely the plan was followed.
PS
Pips School Editorial
The Pips School editorial team writes independent educational material on forex markets, broker selection and risk management.
Editorial principles
