How to Set Up Your Journal for a New Prop Firm Account

Starting a new prop firm account is an exciting moment—full of potential but also pressure. Whether it’s your first time or your fifth challenge, one of the smartest things you can do before placing your first trade is to set up your trading journal properly. A structured journal provides clarity, improves decision-making, and helps you meet prop firm rules. In this guide, we’ll walk you through how to build a journal tailored to your new account, using both digital tools and printable templates like the Prop Firm Press Journal Sheets.

Step 1: Define Your Evaluation Plan Details

Start by writing down the specifics of your challenge:

• Prop firm name
• Evaluation type (one-step, two-step, instant funding)
• Account size (e.g., $50,000)
• Profit target
• Daily loss limit
• Max drawdown
• Trading rules (news restrictions, weekends, lot size)

This section is your rulebook. You should refer to it before and after every trade to stay compliant.

Step 2: Choose a Journal Format

You have several options:

• Printable templates – Use binder-ready pages like the Ultimate Trading Journal Sheets to track trades by hand.
• Spreadsheets – Create a Google Sheet with columns for setup, entry, stop-loss, result, and notes.
• Digital apps – Tools like Notion, Evernote, or Edgewonk offer advanced customization and stats.

Pick one you’ll actually use daily. Simplicity beats complexity when consistency is the goal.

Step 3: Create Sections for Each Trading Phase

Structure your journal into these parts:

• Pre-trade plan: Why am I taking this trade? Does it meet my criteria?
• Execution log: Entry time, size, stop-loss, take-profit.
• Post-trade reflection: What went well? What could improve?
• Rule tracking: Did I violate any challenge rules?

This ensures each trade becomes a learning opportunity.

Step 4: Build a Weekly Dashboard

Create a page or sheet that summarizes your week:

• Win rate
• Average R:R
• Total trades
• Best and worst trade
• Emotional state trends

This snapshot will help you make mid-evaluation adjustments before issues spiral out of control.

Step 5: Incorporate Rule Compliance Checks

Add a column or checkbox labeled “Rule Followed?” for each trade. This helps you track if you’ve broken a max loss rule, traded during restricted hours, or violated risk limits. If you find 90% of your bad trades came from rule breaks, that’s where your fix starts.

Step 6: Use Visual Elements

Include screenshots of your trades. Annotate them to show where you entered, where you exited, and what you were thinking. This visual memory builds stronger learning than just numbers alone.

Step 7: Record Your Emotions

Mark each trade with your emotional state at the time: confident, anxious, revengeful, focused, fearful. Over time, patterns will emerge—showing whether emotions are sabotaging or supporting your trading performance.

Step 8: Plan Review Days

Set a specific day each week to review your journal. Look for:

• Repeating mistakes
• Missed opportunities
• Winning patterns
• Slippage or execution issues

This is where real growth happens. Don’t skip it.

Step 9: Customize for Your Trading Style

A swing trader might need space for macro analysis and multi-day tracking. A scalper needs rapid-fire trade logs and tighter metrics. Customize your journal layout based on your strategy.

Step 10: Add Checklists

Use a pre-trade checklist and post-trade checklist in your journal:

• Did the setup meet all criteria?
• Was my stop-loss in the correct place?
• Did I size my position correctly?
• Did I stick to my strategy?
• Was there a news release nearby?

This keeps you honest and reinforces disciplined habits.

Step 11: Archive Your Best Trades

Include a section where you store your best setups. These should be trades where you followed the rules and executed cleanly, regardless of whether they won or lost. Review these before each trading day to re-anchor yourself.

Step 12: Include a Daily Affirmation or Focus

Start each journal entry with an affirmation or goal, such as:

• “I will only take high-quality setups.”
• “I will accept full risk on each trade.”
• “I will not deviate from my plan.”

This keeps your mindset aligned with long-term success—not short-term wins.

Final Notes

Setting up a trading journal for your prop firm account isn’t a formality—it’s a foundation. Whether you use a printable planner or an advanced tracking app, what matters is consistent use. The journal becomes your roadmap, your teacher, and your accountability partner. Set it up right from day one, and you’ll increase your odds of passing dramatically.