Guide · 2 min read
Trading journal for gold: what to log and how to review it
Short answer: A trading journal records every trade with its setup, risk, costs and result, so you can see what your rules really earn instead of what it feels like. Log the same fields every time, count results in R (multiples of the money risked), and review weekly. Wait for a few dozen trades per setup before you change anything.
Published: 24 October 2026.
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Most traders remember their best trade and forget the ten small losses that repeat the same mistake. The journal is the cure.
What to log
- When and what: date, time, direction, the setup in a few words.
- The plan: entry, stop, target, lot size, the money risked. See how to calculate lot size for gold.
- The costs: spread and commission. See the gold spread guide.
- The result: exit, money, and R (the result divided by the money risked).
- One line: what you did right or wrong, and whether you followed your plan.
Counting in R
A trade that risked 50 dollars and made 100 is +2R. One that lost the full 50 is -1R. A journal in R lets you compare a 0.1 lot trade with a 1 lot trade. See the risk reward ratio guide.
The weekly review
- Step 1Total R for the week, and the number of trades.
- Step 2Which setup earned and which lost, after costs.
- Step 3How many trades broke your own rules, and what they cost.
- Step 4One thing to change, not five.
Do not judge a setup on a handful of trades. Several dozen is a sensible floor, and a losing streak is normal. See how much to risk per trade.
From the journal to a rule
When a setup keeps earning, write it as a rule precise enough to test on past prices. See how to backtest a gold strategy in MT5. Put your limits in a trading plan first.
The Monthly Pass and the Lifetime Pass are software licences for your own MetaTrader account. They score every robot and strategy you run the same way, with costs inside every number. See the plans.
FAQ
Why keep a trading journal?
Memory keeps the big wins and forgets the small repeated losses. A journal turns your trades into data, so you can see what your rules really earn after costs instead of what it feels like.
What should I record for every gold trade?
Date and time, direction, the setup, entry, stop, target, lot size, the money risked, spread and commission, the exit, the result in money and in R, and a line on what you did right or wrong.
What is R in a journal?
The result as a multiple of the money you risked. A trade that risked 50 dollars and made 100 is +2R; one that lost the full 50 is -1R. It lets you compare trades of different size.
How often should I review the journal?
A short look every week and a longer one every month. Wait for a few dozen trades per setup before drawing conclusions; fewer can mislead.
Should I journal demo trades too?
Yes, but keep demo and live apart. Demo fills are cleaner and cost less, so demo numbers never prove how a rule will do on a real account.
Can the journal be automatic?
Your platform keeps the trade history, which saves the typing. The notes on why you took the trade and how you felt still have to come from you.
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Every check from these articles, on one printable page.
An educational tool. It is not investment advice. Trading leveraged products such as gold CFDs carries a high risk of losing money, and you can lose all of it.
BaroqTech makes software. It is not investment advice and it does not manage money. Trading leveraged products such as gold CFDs carries a high risk of losing money, and you can lose all of it. Results from a test or from a demo account do not predict results on a real account.
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The Gold Field Guide
The gold day hour by hour, the six forces behind the price and the releases worth a place in your calendar.