Optencis
A trading journal is a record of every trade you take, with the reason you took it and the result. It is the only tool that turns a series of trades into a series of lessons. Without it, a trader remembers the big wins and forgets the small losses, blames the market for a bad week and never finds out that most of the damage came from one habit. With it, after 50 trades, the habit shows up as a number. Here is what to write, a template to copy, and how to read it.
The journal matters more in binary options than almost anywhere else. Trades are short, decisions come fast, and the fixed payout means you need a win rate above a precise threshold, our break-even win rate, to make progress. The journal is how you know whether you are above or below that line.
What to write before the trade
The most important part of the journal is written before you click. It takes 30 seconds and it stops the trades that have no reason.
- Date, time and asset: EUR/USD, 14:32 UTC.
- Direction and expiry: up, 15 minutes.
- Amount, and the share of your capital it represents: $10, 1%.
- The reason, in one sentence: “bounce from the 1.0850 support, uptrend on the 15-minute chart, bullish candle closed”.
- Your state, in one word: calm, tired, in a hurry, annoyed by the last loss.
If you cannot write the reason in one sentence, you do not have one. That alone removes a good share of losing trades.
What to write after the trade
- Result: won or lost, and the amount.
- Did the trade follow your plan? Yes or no. A winning trade that broke your rules is still a bad trade, and a losing trade that followed them is still a good one.
- What you saw at expiry: the move happened as expected, the level broke, the news hit, nothing happened.
- One lesson, only when there is one. Most trades teach nothing on their own; the patterns appear later.
The template
A spreadsheet is enough. One line per trade, these columns:
| Column | Example | Why it is there |
|---|---|---|
| Date and time (UTC) | 2026-10-22 14:32 | To spot the hours that work for you |
| Asset | EUR/USD | To compare assets |
| Direction | Up | To check for a bias |
| Expiry | 15 min | To compare durations |
| Amount and % of capital | $10, 1% | To catch size creep |
| Setup | Support bounce | To measure each setup separately |
| Reason (one sentence) | Third touch of 1.0850, uptrend on 15 min | To force a reason |
| State | Calm | To link emotions and results |
| Result | +$9 | The score |
| Followed the plan? | Yes | The real score |
| Note | Expiry a bit short, move came late | Lessons |
Add a screenshot of the chart at entry when you can. Six months later, the screenshot teaches more than the line.
How to read your journal
Do not read it after every trade: the emotions are still there and the sample is too small. Read it once a week, and properly every 50 trades. Sort and filter, then answer these questions:
- What is my win rate, overall and per setup? Compare it with your break-even. A setup that wins 48% of the time at a 90% payout is losing money, however good it feels.
- What is my win rate when I followed the plan, and when I did not? For most traders the gap is large. This number is the best argument for discipline you will ever find.
- Which hours, assets and expiries work? Many traders discover that one session, or one asset, produces most of their losses. Our article on the best hours to trade explains why the hour matters so much.
- What happens after a loss? Look at the trade that follows each loss: its size, its delay, its reason. If the amounts grow and the reasons shrink, you are chasing losses. Our article on losing streaks covers how to stop.
- Is my amount stable? A journal that shows $10, $10, $25, $10, $50 is telling you where the money went.
Change one thing at a time
When the journal points to a problem, change one rule, then trade another 50 trades before judging. Changing three things at once tells you nothing about which one mattered. This is slow by design: the journal is a tool for months, not for an afternoon. Lesson 10 of our free course, your journal, your best coach, goes further with a ready-made sheet.
Frequently asked questions
Do I need special software for a trading journal?
No. A spreadsheet with the columns above does everything that matters. Software adds charts and statistics, which are useful later, once the habit exists.
How many trades before the journal tells me something?
Around 50 trades for a first reading, 100 or more before changing a rule. Below that, luck dominates: a 55% trader can easily win 4 out of 10.
Should I keep a journal on a demo account?
Yes, and from the first trade. The demo is where the habit is formed. A demo without a journal is practice without feedback.
Binary options and leveraged products are high-risk: you can lose all the money you invest. Read our binary options guide and our risk disclosure before trading.
