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Chapter 3 · Advanced/TipsLesson 4 of 12
3.4

Trading Journal & Loss Review

± 3 min read 8 sections 2 images

Traders who improve aren't the ones who never lose, but the ones who learn from every loss. The way to do it is to log every trade in a journal and review it regularly.

Section 1 / 8

Why does a trading journal matter?

  • Our memory is biased. We easily remember profits and forget losses.
  • From your notes, you can see the mistakes you keep repeating.
  • You can see which strategies actually make money, not just what it feels like.
Section 2 / 8

What to log

For every trade, log at least:

Section 3 / 8

Journal tools

  • Google Sheets / Excel: simple, and can calculate automatically.
  • Notion: you can build a journal database right inside a page.
  • Built-in features: some tools have a journal and stats, for example DryFlip for paper trading (lesson 1.2). Terminals also show a 's PnL history.
Trade History in DryFlip: ① Total PnL, ② Win Rate. There's also Total Trades, active positions, and a Notes button. GMGN + DryFlip screenshot (Oct 2026). Token is only an example, not a recommendation.
Trade History in DryFlip: ① Total PnL, ② . There's also Total Trades, active positions, and a Notes button. GMGN + DryFlip screenshot (Oct 2026). Token is only an example, not a recommendation.
PNL Calendar in DryFlip: ① an example red day (the 17th, −0.004 SOL), ② Best green streak (green days in a row). GMGN + DryFlip screenshot (Oct 2026). Token is only an example, not a recommendation.
PNL Calendar in DryFlip: ① an example red day (the 17th, −0.004 SOL), ② Best green streak (green days in a row). GMGN + DryFlip screenshot (Oct 2026). Token is only an example, not a recommendation.

Pick whichever is easiest for you to use every day.

Section 4 / 8

How to review a loss

After every loss, ask:

Section 5 / 8

Regular reviews

Every week, look through all your notes and calculate:

  • Win rate (what percentage of trades were in profit).
  • Average profit vs average loss.
  • The most common type of mistake.
  • The times or conditions when you lose most often.

A low win rate isn't always bad if your average profit is much bigger than your average loss. Look at the big picture.

Section 6 / 8

Healthy habits

  • Fill in the journal right after a trade ends, not later.
  • Be honest, including about emotions and dumb mistakes.
  • Change one bad habit every week.
Section 7 / 8

Dangerous habits

  • Only logging profitable trades.
  • Blaming the market or the without looking at your own mistakes.
  • Logging but never reading it again.
Summary

Summary

Summary
  • Log every trade: , /exit , position size, reason for entry, / plan, result, and emotions during the trade.
  • After every loss, ask: did I follow the checklist? was it the analysis or the execution? did I enter because of ? was the position size within my rules?
  • Review every week: win rate, average profit vs average loss, and the most common mistakes.
Section 8 / 8

Common mistakes

  • Only logging profitable trades.
  • Blaming the market or the dev without looking at your own mistakes.
  • Logging but never reading it again.

A journal makes you notice when a decision was driven by greed. From there, you can keep shrinking your .
Next up, lesson 3.5: Advanced Wallet Tracking: Find Your Own Wallets.
Not financial advice.

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