What to write down after every session

A trading record does not need to be fancy. A spreadsheet, a notebook or a simple notes file all work. What matters is that you fill in the same fields every time, so one session can be compared with the next.

This lesson gives you those fields. It also covers two choices that make a big difference: recording in points instead of dollars, and recording after the session instead of during it.

What to log for each trade

• Time. When you entered, to the minute.
• Setup. The name of your setup. If you are narrow, this is the same every time. If it isn't, that is worth noticing.
• Entry. The price you got in at.
• Stop. Where your stop was when you entered.
• Exit. The price you got out at.
• Points. The result in points, plus or minus.
• Rule kept. Yes or no. Did you follow every rule on this trade?
• Grade. A, B or C for how well you ran the process. The next lesson explains grading.
• Note. One sentence. What happened, or what you noticed about yourself.

Here is what a line might look like: 9:47, reversal setup, entry 21,040, stop 21,020, exit 21,065, +25 points, rule kept yes, grade A, "Waited for the full signal even though I wanted in early."

What to log for each session

After the trades, add a short summary for the day as a whole.

• Number of trades.
• Total points for the session.
• Did you follow your session routine? Yes or no.
• Did you stop at your window or your limit? Yes or no.
• One sentence on the session overall.

The session is the unit you will judge later. Single trades are too noisy to mean much. A row of sessions starts to show a pattern.

Take screenshots

Save a picture of the chart for each trade, with the entry and exit visible. Name the file with the date and time so you can find it again. Your memory of a chart changes fast. A screenshot doesn't. When you review a week later, the picture will often show something your note missed, like an entry that came two candles early.

Points, not dollars

Record results in points. On Nasdaq-100 futures, one point is $20 on NQ and $2 on MNQ. A 25-point trade is $50 on one MNQ contract and $500 on one NQ contract. Same trade, same skill, very different dollar number.

Points keep your record honest when your size changes. They also take some of the sting out of reading it. Dollars pull your attention toward what you won or lost. Points keep it on what the setup did. If you need the dollar figure, the point value calculator will convert it. My own public record is posted in points for the same reason. It is a simulated account, separate from my live trading.

After the session, not during

Fill in the record once the session is over. During the session, a tick mark per trade is enough to keep count. Writing full notes while a position is open splits your focus. It also tempts you to "fix" a trade on paper while it's still live.

After the session, you are calmer and the facts are fresh. Ten minutes is usually plenty. Do it every session, including the boring ones with no trades. A day where you waited and took nothing is a day you followed your rules, and it belongs in the record.

The takeaway

Log the same fields every time: time, setup, entry, stop, exit, points, rule kept, grade and a one-sentence note. Add a short session summary and a screenshot of each trade. Record in points, and do it after the session. A plain, complete record beats a fancy one you skip.

Do this today

• Make a spreadsheet or notebook page with these columns: time, setup, entry, stop, exit, points, rule kept, grade, note.
• Create a folder for chart screenshots and decide how you will name each file.
• After your next session, fill in every field, even if you took no trades.

Check yourself

Answer each one in your head, then open it to check.