A trading journal is most useful when it records the decision process, not just the profit or loss. The goal is to create consistent evidence that can be reviewed later without rewriting the story around the outcome.
What to Record Before the Trade
- Context: market posture, sector condition, scheduled events, and known catalyst.
- Setup: a specific label and the observable conditions required by that definition.
- Plan: intended entry, invalidation, size, maximum planned loss, and exit approach.
- Skip conditions: the spread, price movement, news change, or risk condition that would cancel the idea.
Writing skip conditions before the outcome makes them easier to evaluate honestly. A note such as “looks strong” is hard to test; a note tied to a level, range, or event is more useful.
What to Record After the Trade
Capture actual fills, fees when available, size changes, exit reason, and any difference between the plan and execution. A screenshot can preserve chart context, but it should supplement structured fields rather than replace them.
Use neutral language. Record “entered above planned level after trigger” instead of “bad chase.” The first description can be grouped and measured later. The second is a judgment without a stable definition.
A Short Daily Review
At the end of a session, check whether each trade followed its stated setup, size, and invalidation rule. Note operational issues such as incomplete data, incorrect symbol mapping, or missing fees. Do not turn one result into a new rule.
A Weekly Review
Group completed trades by setup, direction, time window, market condition, and whether the plan was followed. Compare like with like and keep sample size visible. Useful questions include:
- Which rules were followed consistently?
- Where did planned and actual risk differ?
- Do losses cluster around a repeatable process deviation?
- Are apparent patterns based on enough comparable observations to investigate further?
A journal can reveal correlations and repeated behavior, but it does not prove why a result occurred. Treat a pattern as a hypothesis to test, not a diagnosis or promise.
Turn Findings Into Small Experiments
Change one rule at a time, define the observation period in advance, and keep the old and new samples separate. Examples include requiring a written catalyst, limiting entries beyond the planned level, or adding a pre-trade liquidity check. Avoid changing several variables after a difficult week.
How the MAC Terminal Journal Works
MAC Terminal accepts supported CSV or pasted-fill imports and calculates P&L, R-multiples, time-of-day breakdowns, and rule-based behavior flags from recorded data. The current Journal does not generate personalized AI coaching from notes. Its purpose is to make the review process consistent and inspectable; members remain responsible for the accuracy and interpretation of imported records.
Educational only. Journal statistics describe recorded history and do not predict future returns. Review broker records for accuracy and consider taxes, fees, and slippage when evaluating results.