Trading forex can be a profitable venture, but it’s also risky. Before you start trading forex and fully understand how fx works, it’s important to develop a disciplined trading strategy and keep track of your progress. One of the best ways to do this is by using a forex trading journal.
A forex trading journal is a record f your trades, including the date and time of each trade, the type of trade, the entry price, the exit price, and the profit or loss on each trade. By tracking your progress in a journal, you can more easily identify which strategies are working for you and which ones need improvement.
Here are 10 of the best tools for keeping a forex trading journal:
- Trading Journal Spreadsheet
The Trading Journal Spreadsheet is a popular tool among traders because it’s easy to use and customizable. The spreadsheet lets you track your profits and losses, your open and closed trades, your trade sizes, and more.
- FXBlue Trading Diary
FXBlue’s Trading Diary is another great option for forex traders who want to keep a journal. This tool allows you to track your progress over time, review your performance metrics, and see how different strategies have performed.
- ForexTrader Journal
ForexTrader Journal is a simple yet powerful forex trading journal app that allows you to track your progress, set goals, and review your performance. The app also includes a variety of charts and reports to help you analyze your trading results.
TradeBench is a free online trading journal that lets you track your trades, performance metrics, and more. You can also use TradeBench to create hypothetical portfolios and compare your performance against other traders.
- FXStat Trading Journal
FXStat’s Trading Journal is an online tool that helps you track your trading performance, identify opportunities and risks, and improve your trading skills. The journal includes detailed trade analysis reports, performance reports, and more.
- IQ Option Trader Journal
IQ Option’s Trader Journal is an online tool that helps you track your trading activity, improve your skills, back-test different strategies, and create hypothetical portfolios. The journal provides detailed trade analysis reports for every trade you make.
- DailyFX Trading Tools
DailyFX offers several tools to help traders keep a trading journal. This page includes learning resources, various types of technical indicators used in forex trading, sector heat maps with market moving news events for FX currencies, and more.
- Myfxbook Journal
Myfxbook’s Journal is an online tool that lets you track your trading results, analyze your performance, and find new trading opportunities. The journal includes detailed reports on your account, your trades, and your performance metrics.
- Trading 212 Journal
Trading 212’s Journal is an online tool that allows you to track your trading progress, set goals, and review your performance. The journal also includes a variety of charts and reports to help you analyze your trading results.
- Forex Tester 2
Forex Tester 2 is a software program that simulates the Forex market so that you can test out different trading strategies before you use them in live trading. The software includes a journal feature that lets you document your trades, review your progress, and back-test different strategies.