A result is not a full explanation
A profitable outcome can follow a poorly controlled decision. A losing outcome can follow a clearly specified plan. Recording only profit and loss hides the distinction. Review both the outcome and the behavior that produced it.
Before the session
Write a brief context note: instrument, session, relevant levels and conditions that would make you stay out. Include any practical constraints that could interfere with your attention. Keep the original note so later edits do not erase what you actually expected.
The journal template
- Context: instrument, date, session and timeframe.
- Idea: the condition being observed and why it matters to the plan.
- Invalidation: what would make the idea no longer applicable.
- Exposure: planned size, risk and order assumptions.
- Execution: actual entry, exit, costs and any deviation.
- Evidence: chart before the action and chart after the outcome.
- Review: one observation and one specific adjustment to test.
Review patterns, not isolated stories
Group comparable decisions together. If the context or rules changed, label that change rather than mixing every trade into one explanation. Small or selected samples do not establish that an approach has an edge.
Keep the next adjustment narrow
“Be more disciplined” is hard to evaluate. “Write the invalidation before placing an order” is observable. Choose an adjustment that you can later check. Avoid changing multiple variables at once and then attributing the result to whichever explanation feels best.
Protect the record
Store journals privately. Remove account identifiers and personal financial information from anything you choose to share publicly. A review process does not require broadcasting your account details.
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