Published November 1, 2026 · Beginner education
THE IDEA, IN PLAIN LANGUAGE
A journal records a plan, the action taken and a review of what happened. Include market context, entry and exit reasons, position size, costs and emotional state. Separate rule-following from whether a trade happened to win.
KEY VOCABULARY
- Journal
- A consistent record of decisions and reviews.
A PRACTICAL EXAMPLE
Demo exercise: write the reason for a simulated trade before entering. Afterward, compare your action with your rule and identify one thing to practice.
A COMMON MISTAKE
Recording only winning trades or rewriting the original reason afterward.
WHAT TO REMEMBER
An honest record is more useful than a flattering one.
SOURCE REFERENCES
Use these external resources to study further. Explanations here are our own; external resources may change.
- BabyPips: related source lesson ↗
- BabyPips: School of Pipsology — beginner forex curriculum ↗
- CFTC: understand forex risks ↗
RELATED VIDEOS
No lesson-specific video is published here yet. Follow @koufaxbtb on Instagram for existing creator content; it is not a substitute for these source references.