Top Mistakes Traders Make When Journaling (And How to Avoid Them)
Journaling is one of the most effective tools for traders looking to pass prop firm challenges and stay funded. Yet many traders struggle to keep up a journal—or worse, maintain one that does more harm than good. If you’re serious about improving your performance and becoming a consistent prop firm trader, it’s time to fix the most common journaling mistakes. Here’s how to avoid them and build a journal that actually helps you grow.
Mistake #1: Only Logging the Outcome
One of the biggest journaling mistakes is focusing only on whether a trade was a win or a loss. While the outcome matters, it’s not the most valuable data point. What matters more is the decision-making process. Did the trade align with your edge? Did you follow your plan? Was the risk appropriate?
When your journal only shows green and red PnL, you’re missing the context that helps you improve. Add detailed notes about entry criteria, exit reasoning, risk, and psychology for each trade.
Mistake #2: Journaling Inconsistently
A journal is only useful if it’s updated regularly. Many traders start journaling with enthusiasm but fade after a few days or weeks. Skipping journal entries creates blind spots in your performance and removes the accountability needed to improve.
Block time at the end of each session to journal. Even five minutes is enough to capture key insights while they’re fresh. Tools like the Prop Firm Press Journal Sheets make it easy to journal daily with consistent prompts.
Mistake #3: Not Reviewing Your Journal
Journaling isn’t just about writing—it’s about reviewing. Too many traders fill out journals and never look back. The power comes from recognizing patterns, understanding recurring mistakes, and making adjustments.
Set aside time each week to conduct a structured journal review. Look for themes in your setups, timing, and emotional behavior. Use the data to refine your approach for the next week.
Mistake #4: Using an Overcomplicated System
Some traders try to create the perfect journal with dozens of columns, complex scoring systems, and advanced formulas. While the intent is good, complexity kills consistency. If your journal feels like work, you won’t keep up with it.
Start simple. Focus on logging only what you need to improve. As your habits grow, you can add more detail. The best journals are ones you’ll actually use every day.
Mistake #5: Ignoring Emotions and Psychology
Trades don’t exist in a vacuum. Your emotional state plays a major role in execution. Yet many traders log only technical details and ignore mindset. This leaves out critical information about discipline and behavior.
Log how you felt before, during, and after each trade. Were you anxious? Overconfident? Hesitant? These notes will reveal patterns over time—and help you manage emotions during future trades.
Mistake #6: Failing to Connect Journal Entries with Prop Firm Rules
If you’re trading for a prop firm, your journal should reflect the firm’s rules. Did you respect the daily loss limit? Did you overtrade and violate consistency expectations? Ignoring these aspects leads to failed challenges—even if you’re profitable overall.
Templates from the Prop Firm Press Journal Sheets include checkboxes and prompts to track rule compliance, making it easy to build accountability into your process.
Mistake #7: Not Including Screenshots
Visuals help you see what you were thinking. A written entry tells part of the story, but a screenshot of the chart tells the rest. Without it, you’ll forget what price action looked like, where key levels were, and what structure you were trading into.
Use screenshots to mark entry and exit points, support/resistance levels, and patterns. This helps reinforce your visual memory and setup recognition.
Mistake #8: Journaling After the Fact
Journaling at the end of the day or week has value, but it can be biased by hindsight. You’re more likely to justify poor decisions or misremember why you took a trade. The best time to journal is immediately after the trade, while the emotions and logic are still raw.
Build this habit into your workflow. Trade, then journal before moving on.
Mistake #9: Treating the Journal Like a Scorecard
Journals aren’t just for keeping score. They’re for learning. If your journal feels like a performance report card, you’ll focus too much on wins and losses. This creates shame around losing trades and pride around random wins—neither of which helps you improve.
Use your journal as a learning tool, not a judgment tool. You’re there to observe, understand, and adjust. That’s how real traders evolve.
Fix the Mistakes—Reap the Benefits
A powerful journal is simple, consistent, honest, and reviewed. It tracks more than just outcomes—it tracks behaviors, mindset, and rule adherence. Avoiding the common mistakes above will help you transform your journal from a passive record to an active tool that gets you funded—and keeps you funded long term.