1. Capture the plan
Record the instrument, session, timeframe, entry, stop, targets, quantity and cash risk. Include the reason for taking the setup and scheduled news.
2. Capture actual execution
Record actual fills, commissions, spread and other charges separately from the planned levels. Note any change to the plan and the reason.
3. Review patterns
Compare a series of trades with your rules. Look for recurring sizing or execution errors and select a specific improvement. One winning trade does not establish that a method works.
A practical example
| Market / Session | EUR/USD / London–New York overlap |
|---|---|
| Planned entry / stop | 1.1200 / 1.1150 |
| Quantity | 10,000 EUR |
| Planned price risk | 50 pips × USD 1 = USD 50 before costs |
| Record | Quote source, account currency, rollover charges and actual fills |
Key takeaways
- Separate the plan from the fills.
- Include all relevant charges.
- Review decision quality across several trades.