Process and review
A practical gold trading plan and journal
Turn analysis into written rules and a journal that measures context, execution and risk instead of judging only by profit.
Answer first
What should you remember?
- A plan also defines when not to trade.
- A journal measures decision quality before outcome.
- Change one rule only after a meaningful sample.
What the plan must contain
Define the markets you trade—gold only here—the session, timeframe, entry model and daily and weekly risk limits. State which events block execution and when a losing streak ends the session. An unwritten rule is difficult to test.
Pre-trade checklist
Record higher-timeframe direction, liquidity, location, trigger, invalidation, target and upcoming event risk. Excitement cannot replace a missing condition. A pre-trade screenshot prevents the reason from being rewritten after the outcome.
What to record after the trade
Record rule adherence, execution quality, slippage, emotional state and outcome in risk units, then attach a post-close screenshot. A rule-following loss can be a sound decision; an undisciplined win can be an error that should not be repeated.
Review and improvement
Review a sample by session, setup and day type, looking for measurable patterns. Do not replace a strategy after two trades. Test one change while holding other rules constant so its effect can be identified.
Direct answers
Frequently asked questions
How many trades are needed to evaluate a plan?
There is no magic number, but two or three trades are insufficient. Use a meaningful sample across different conditions with consistent rules.
Should missed trades be journaled?
Yes, when a setup was valid or rejected for a defined reason; missed trades expose chasing, hesitation and the quality of wait rules.