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How to Start a Trading Journal: A Complete Beginner's Guide

Learn how to create and maintain an effective trading journal from scratch. Step-by-step guide for beginners.

TrackIt Team 7 min read1/10/2026

Key takeaways

  • In summary, choose between spreadsheets (free but time-consuming) or a dedicated app like TrackIt (automatic calculations, built-in analytics).
  • Every trade entry should include: Date, Symbol, Direction, Entry/Exit Price, Position Size, P&L, Setup, and Notes.
  • Develop a pre-trade routine documenting your setup, thesis, and risk management before entering any trade.
  • Schedule weekly reviews to calculate win rate, review best/worst trades, and identify patterns for improvement.

Introduction

Starting a trading journal can feel overwhelming. What should you track? How detailed should you be? In this guide, we'll walk you through everything you need to know.

Step 1: Choose Your Journal Format

You have several options:

Spreadsheet (Excel/Google Sheets)

  • Pros: Free, customizable
  • Cons: Time-consuming, manual calculations

    • Dedicated Trading Journal App

  • Pros: Automatic calculations, built-in analytics, easy to maintain
  • Cons: May have costs

    • We recommend using a dedicated app like TrackIt for the best experience.

    Step 2: Decide What to Track

    At minimum, every trade entry should include:

  • Date/Time
  • Symbol
  • Direction (Long/Short)
  • Entry Price
  • Exit Price
  • Position Size
  • P&L
  • Setup
  • Notes

    • Step 3: Develop a Pre-Trade Routine

    Before entering any trade, document:

    1. The setup - What pattern triggered this trade?

    2. Your thesis - Why do you expect this trade to work?

    3. Risk management - Where is your stop loss?

    4. Position size - How much are you risking?

    Step 4: Post-Trade Analysis

    After closing, record:

  • Outcome - Win, loss, or breakeven
  • What went well
  • What to improve
  • Lessons learned

    • Step 5: Weekly Review

    Set aside time each week to:

    1. Calculate your win rate

    2. Review your best and worst trades

    3. Look for patterns

    4. Set goals for the next week

    Conclusion

    Starting a trading journal takes effort, but the payoff is enormous. Begin with the basics and add detail as you become more comfortable.