Trade Journals and Process Review
A trade journal records the information and decision rules available at the time, the intended action and the actual outcome. Its main value is separating process errors from ordinary uncertainty.
How it works
Record timestamp and timezone, instrument, rule version, entry and exit assumptions, size, planned risk, actual fills, fees and reason for exceptions. Attach a chart captured before the outcome where possible. Review rule compliance separately from profit; a rule-following loss can be more informative than an accidental gain.
Worked example
Two fictional trades each show a gross gain of 50. Trade A followed its size rule and paid 5 in costs, netting 45. Trade B doubled allowed size, paid 12 and netted 38. Both are wins in a crude win-rate count, but B contains a process breach. Tag the breach before deciding whether any strategy rule should change.
Amounts, prices and scenarios are fictional teaching examples. They exclude any effects not explicitly stated and are not trade recommendations.
Limits and common mistakes
Journals can become selective stories if failed or skipped signals are omitted. Changing rules after every loss makes versions incomparable. Screenshots with visible future prices can bias later interpretation.
Knowledge check
Should a winning trade automatically receive a good process score?
Read the explanation
No. Outcome and rule compliance are distinct. A favorable result can occur despite an execution error or an unjustified risk increase.
References and further reading
These sources explain the underlying concepts and specifications. They do not endorse QBMFX Academy. Check the relevant market, protocol version and reporting rules before applying an example.