Journaling5 min read
How to Keep a Trading Journal: A Step-by-Step Guide for Forex Traders
What to record, when to review it and how to turn a trading journal into better decisions. A practical guide for MT4 and MT5 traders.
PipLog Blog
Trade better by reviewing what you actually did
Guides for MT4 and MT5 traders: keeping a trading journal, exporting history, profit factor, expectancy, drawdown, risk and trading psychology.
Latest articles
MetaTrader4 min read
MT5 Trading Journal: How to Journal MetaTrader 5 Trades Automatically
Three ways to build an MT5 trading journal, from statement imports to live sync with an expert advisor, and what to look for in a journal for MetaTrader 5.
Risk management5 min read
MT5 Trade Manager EA: Risk-Sized Orders, Daily Loss Limits and Auto Journaling
How the PipLog expert advisor for MetaTrader 5 sizes orders by risk, enforces a daily loss limit, manages break-even and partials, and syncs your journal.
MetaTrader3 min read
How to Export Trade History from MetaTrader 5 (HTML, Excel & CSV)
Step-by-step: export your MT5 trade history as an HTML or Excel report, pick the right date range, and import it into a trading journal without duplicates.
MetaTrader3 min read
How to Export Trade History from MT4 (Detailed Statement Guide)
Export your MetaTrader 4 account history as a Detailed Report in four clicks, fix missing trades, and import the statement into a trading journal.
Metrics4 min read
12 Trading Performance Metrics Every Forex Trader Should Track
Win rate, profit factor, expectancy, drawdown, average R and more: what each trading metric means, how to calculate it, and what a good value looks like.
Journaling3 min read
Trading Journal Template: The Fields Every Trade Entry Needs
A practical trading journal template for forex, gold and indices traders: the trade fields, the context fields and the daily review questions to include.
Metrics3 min read
Profit Factor Explained: Formula, Examples and What Counts as Good
Profit factor is gross profit divided by gross loss. Learn how to calculate it, what a good profit factor is for forex traders, and its blind spots.
Metrics3 min read
Trading Expectancy: The Formula That Tells You If You Have an Edge
Expectancy combines win rate and risk-reward into one number: what you make per trade on average. Formula, examples, and the break-even win rate table.
Metrics3 min read
R-Multiples Explained: Measure Every Trade in Units of Risk
An R-multiple is a trade's result divided by its initial risk. Learn how to calculate R, why it beats dollar P&L for reviewing trades, and how to use it.
Risk management3 min read
Maximum Drawdown in Trading: How to Calculate It and Keep It Small
Maximum drawdown is the largest peak-to-trough fall in your equity. How to calculate it, the recovery maths, and practical ways to limit drawdowns.
Risk management4 min read
Forex Position Sizing: How to Risk 1% Per Trade Correctly
Calculate the right lot size for any forex pair, gold or index from your account risk and stop loss, with worked examples and common sizing mistakes.
Psychology4 min read
Revenge Trading: How to Spot It in Your Journal and Stop It
Revenge trading turns a normal loss into a terrible day. Learn the warning signs, how to detect revenge trades in your data, and rules that stop the spiral.
Psychology3 min read
Trading Psychology Journal: Track Emotions to Improve Discipline
How to journal emotions, energy and rule adherence before and after each trading session, and how to turn those notes into better trading discipline.
Strategy3 min read
How to Build a Pre-Trade Checklist You'll Actually Follow
A pre-trade checklist filters out impulsive trades before they happen. How to write one, example checklists for forex traders, and how to enforce it.
Risk management4 min read
Passing a Prop Firm Challenge: Daily Loss Limits, Drawdown and Journaling
Most prop firm challenges are failed on risk rules, not strategy. How daily loss and max drawdown rules work, and a journaling routine to stay inside them.
Strategy3 min read
How to Backtest a Trading Strategy Manually (and Log Results in R)
A step-by-step method for manual backtesting: write testable rules, replay charts, log each trade in R, and read the results before risking real money.
Journaling3 min read
Why You Should Screenshot Every Trade (and How to Automate It in MT5)
Chart screenshots are the most underrated part of a trading journal. What to capture, when, and how to take MT5 screenshots automatically at entry and exit.
Journaling3 min read
Trading Journal Spreadsheet vs. Journal App: Which Should You Use?
Excel and Google Sheets trading journals are free and flexible. Journal apps automate imports and analytics. An honest comparison for MT4 and MT5 traders.
Strategy3 min read
Forex Trading Sessions: Market Hours, Overlaps and the Best Times to Trade
Sydney, Tokyo, London and New York session times in UTC, the overlaps that bring the most volume, and how to find your best trading hours in your journal.