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Forex Journal Documentation v1.0

This document provides instructions for using a Forex trading journal spreadsheet. The spreadsheet uses money management based on percentage risk for each trade. It calculates trade lots, stop losses, profits/losses, and running balances. Users enter trade details like date, currency pair, system, price levels, and outcomes. Calculated fields then automatically update to track performance over time. The document outlines setting up the journal, how to enter new trades and close prices, and extending the spreadsheet. It notes that the template is a work in progress and may contain errors.

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Hafiz Demonz
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124 views

Forex Journal Documentation v1.0

This document provides instructions for using a Forex trading journal spreadsheet. The spreadsheet uses money management based on percentage risk for each trade. It calculates trade lots, stop losses, profits/losses, and running balances. Users enter trade details like date, currency pair, system, price levels, and outcomes. Calculated fields then automatically update to track performance over time. The document outlines setting up the journal, how to enter new trades and close prices, and extending the spreadsheet. It notes that the template is a work in progress and may contain errors.

Uploaded by

Hafiz Demonz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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Forex Journal v1.

First Off:
I am not an Excel programmer or expert, so there are very likely better, stronge
r, faster, and more efficient ways to accomplish these calculations. Please fee
l free to update, modify, and improve as you skills and resources permit.
This spreadsheet uses money management based upon a %RISK for each trade. If yo
u don t yet understand these concepts, then do a search on FF and read all the thr
eads on money management.
Some housekeeping issues: Each spreadsheet is protected so that you can not ac
cidentally enter a value into a calculated cell. To unprotect, simply go to the
TOOLS PROTECTION UNPROTECT SHET menu in Excel (there is no password set). Ther
e are several hidden columns which contain data that is used in certain calculat
ions. Some of these columns lookup data from the DATA sheet using the vlookup c
ommand. The DATA sheet contains stuff used for such things as the pulldown menu
s, live quotes, and certain variables needed to calculate stop loss values for s
pecific currency pairs. If you don t know how to modify these or use the vlookup
command, email me at [email protected] with what you re trying to accomplish
, and I ll do my best to help out.
Journal Set Up:
1) Along the bottom of the WORKBOOK you will see four tabs that will take you to
four separate worksheets. NEW JOURNAL is a blank template, STANDARD ACCT is a
$1,000,000 demo account, and MIRO ACCT is a $2500 demo account (NOTE: As I prep
ared to post this document, I made a few fixes, modifications, and changes to th
e NEW JOURNAL template which do not appear in the other two demos).
2) Go to the NEW JOURNAL and enter your OPENING BALANCE in B2. This is the $ am
ount that will be used to make the %RISK calculations, and maintain the running
balance.
3) Enter in the appropriate PIP VALUE for the type of account you are using. Th
is is generally 10 for Standard Accounts, 1 for Mini Accounts, and .1 for Micro
Accounts. I suppose on some platforms such as Oanda, this may even be .01 for a
Mini-Micro-Variable kind of account. Haven t used them so I can t say for sure. I
t s very important to get this right, as many calculations are based upon this ent
ry. Again, if you re not yet clear on these concepts, go to FF and read the appro
priate threads.

How to use the journal:


1) Enter the DATE
2) Select the PAIR from the pulldown menu. (if a pair you trade is not listed h
ere, email me if you can not figure out how to add or modify).
3) Select the trade SYSTEM from the pull down men. This is of course optional.
To quickly change the systems to match yours, go to the DATA sheet tab at the b
ottom of the workbook, and type over rows A13 to A17.
4) Select BUY or SELL
5) Enter in %RISK for this trade. This is the percent of your total account val
ue calculated from the previous trades running TOTAL from COLUMN V.
6) Enter the execution PRICE for this trade. When using the journal to initiate
a trade, enter the current quote either from COLUMN D or from your trading platf
orm. This will be close enough to make the next few calculations. After the tr
ade is executed, you can then go back and enter the exact execution price.
7) Next enter your stop loss PRICE in COLUMN H.
8) Now, based upon the %RISK and S/L you entered, the worksheet will calculate
the number of LOTS and the S/L IN PIPS for this trade. It is very important her
e to have the PIP VALUE for your account type correctly entered into COLUMN B2.
(NOTE: On some platforms 2 mini/micro lots may be entered .2, and 25 mini/micro
lots may be entered as 2.5 This is the way I need to enter Micro lots into my
IBFX MT4 platform).
9) Enter the ORDER # from your trading platform.
10) If you save a chart for each trade, then right click in the CHART column, an
d select HYPERLINK, then navigate to your chart image and select OK. I use the
SAVE CHART AS PICTURE from MT4. I name the chart with the currency pair and ord
er#, and set size at 600 x 400.
11) As your trade (hopefully) hits its various take profit levels, enter the num
ber of LOTS and 1ST T/P price, 2nd T/P, and 3rd T/P. This will in turn calculat
e the profit in pips, and GAIN/LOSS and running TOTAL columns in $. Again, her
e very important to have B2 set properly. (NOTE: As you start entering your 1s
t T/P, you ll notice that some funny # s come up under the 2nd and 3rd T/P s. I don t k
now how to prevent this, so when the trade is all the way closed I just delete t
he unused cells. If you know how to fix this, please let me know).
12) To extend the spreadsheet, simply copy & past from the last row on downwards
.
13) Finally, please remember that this is a work in progress, and as such may co
ntain random errors, omissions, and bugs. Do not rely upon it for trading decis
ions until you have verified that it is functioning to your standards

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