Pick your format
Format matters less than consistency. Choose what you'll use daily.
Best for formulas, exports, and offline control.
Best for notes and a clean daily workflow.
Best for syncing and quick edits anywhere.
What a free journal must include
If your "free journal" doesn't collect these fields, you can't compute the metrics that actually improve performance.
- • Date / Time
- • Symbol
- • Direction + Size
- • Entry / Exit
- • Notes (1-3 lines)
- • Stop distance (ticks/pips)
- • Planned Risk ($ or R)
- • Commissions + Slippage
- • Net P&L
- • Realized R
- • Setup Name
- • Session (Open/Close)
- • Market Condition
How to journal trades
This keeps your free journal from becoming a graveyard of unreviewed trades.
Log Correctly
Record entry/exit + stop distance + planned risk + costs. If you skip risk or costs, your stats will mislead you.
Tag for Segmentation
Add a setup tag + session tag. This is how you discover which setups work in which conditions.
Review Weekly
Review profit factor and expectancy by setup + session. Then make one decision: keep, modify, or cut.
Free Template vs. App
Free templates are perfect to start. Upgrade when review friction becomes your bottleneck (especially for futures where costs and sessions can flip conclusions).
| Factor | Free Template | ProfitPulse |
|---|---|---|
| Maintenance Time | Low at start, high as volume grows. | Designed to reduce friction. |
| Risk Metrics | Requires custom formulas. | Built-in R, PF, Expectancy. |
| Futures Features | Manual tick/cost tracking. | Futures-first (costs, sessions). |
| Backup | You own the file. | Cloud + Export options. |
Common Mistakes with Free Journals
If you don't log planned risk, you can't compare trades fairly.
Commissions change which setups are viable. Track net P&L.
Without setup tags, you can't discover where edge comes from.
The point is decisions. Review metrics weekly and cut what fails.
Frequently Asked Questions
Free trading journal
A free trading journal is usually a template (Excel, Notion, Google Sheets). It becomes effective when you track planned risk, costs, and net outcomes - so you can review performance using profit factor and expectancy, not just win rate.
Free trading journal template
Your template should include: date/time, symbol, direction, size, entry/exit, stop distance, planned risk, commissions/slippage, net P&L, realized R, setup tags, and short review notes. Start here: trading journal templates.
Trading journal template
A trading journal template is a structured format that standardizes what you log so you can analyze patterns over time. Choose Excel if you want formulas and exports, Notion if you want a notes-first workflow, and Google Sheets if you want syncing.
Excel trading journal
An Excel trading journal works best when you consistently log risk and costs so your metrics stay accurate. Get the template here: excel trading journal.