Track the fields that let you calculate expectancy by setup and find your leaks. That means date and time, instrument, setup, direction, entry, stop, target, exit, position size, risk, result in R, maximum adverse and favourable excursion (MAE/MFE), emotional state, whether you followed your rules, and a screenshot. From those you get win rate, average win and loss, expectancy, and performance by setup, session and state.
- Result in R is the most important single field
- Setup and time-of-day tags reveal where the edge actually lives
- MAE and MFE show whether stops are too tight or exits too early
- A yes/no rule-adherence field quantifies what indiscipline costs
Most journals track too little (just profit and loss) or too much (paragraphs nobody rereads). These 15 fields are the ones that produce answers.
The 15 fields
| # | Field | What it answers |
|---|---|---|
| 1 | Date and time (entry and exit) | When do I trade best? |
| 2 | Instrument | Which markets suit me? |
| 3 | Setup / strategy tag | Which setups have positive expectancy? |
| 4 | Direction | Am I better long or short? |
| 5 | Entry price | Execution quality |
| 6 | Stop price | Defines 1R |
| 7 | Target price | Planned reward-to-risk |
| 8 | Exit price | Did I follow the plan? |
| 9 | Position size | Consistency |
| 10 | Risk ($ and % of account) | Am I risking what I planned? |
| 11 | Result in R | Comparable outcome across trades |
| 12 | MAE (max adverse excursion) | Were my stops too tight or too loose? |
| 13 | MFE (max favourable excursion) | Am I leaving profit on the table? |
| 14 | Emotional state | Which states cost me money? |
| 15 | Rule followed? (and which broke) | What does indiscipline cost? |
Plus a screenshot, and optionally a pre-trade grade (A/B/C or a 0–100 score) to test whether your best-rated setups really perform best. See trade scoring.
Why R matters most
R = result ÷ initial risk. A $300 win on a $100 risk is +3R, and a $50 loss on a $100 risk is −0.5R. R lets you compare a small futures scalp with a large swing trade, and it's the input to expectancy. More in R-multiples.
Your Journal Should Find the Pattern for You
TRADZY's TradLog tags every trade by setup, session and emotion, then shows where your edge actually is.
Start Your Free Journal →MAE and MFE, explained
- MAE: the worst point the trade reached against you. If winners routinely go −0.9R before working, stops at −1R are too tight for your setup.
- MFE: the best point the trade reached in your favour. If trades often reach +2R but you exit at +0.8R, your exits need work. See take profit strategies.
The stats these fields produce
| Statistic | Built from |
|---|---|
| Win rate | Result |
| Average win / average loss (R) | Result in R. See average win vs average loss |
| Expectancy | Win rate + average win and loss |
| Profit factor | Gross wins ÷ gross losses. See profit factor |
| Expectancy by setup, session, weekday | Setup tag + time |
| Cost of rule breaks | Rule-followed field + R |
| Performance by emotional state | Emotion + R |
| Max drawdown | Running equity. See equity curve analysis |
Fields to skip
- Long narrative paragraphs on every trade. Save those for losing streaks and weekly reviews.
- Dozens of indicator values. Track them only if you're testing a specific hypothesis.
- Anything you won't use in a review.
Keep it fast
Use tags and dropdowns instead of free text, import prices from your broker where possible, and add the one-line lesson only when there is one. See examples in trading journal examples.
FAQ
What is the most important thing to track in a trading journal?
The result in R (profit or loss divided by initial risk), because it makes trades comparable and feeds expectancy.
What are MAE and MFE?
Maximum adverse excursion is the furthest a trade moved against you. Maximum favourable excursion is the furthest it moved in your favour before exit.
Should I track emotions in a trading journal?
Yes, in one or two words per trade. Over time, it shows which emotional states cost you money.
How many fields should a trading journal have?
Enough to calculate expectancy by setup and find leaks, around 10–15, and no more than you'll actually fill in.
Put This Into Practice
- Log your next 20 trades with setup, session and emotion tags
- Let the TradLog surface your best and worst setups
- Run the weekly review and cut one leak
Start Free in TRADZY →
Educational content, not financial advice. Trading involves substantial risk of loss.