The Terminal Journal
Practical insights for reviewing trades, measuring performance, managing risk, and building better trading decisions — one entry at a time.
Your P&L tells you what happened, not why. A good end-of-day review grades the decisions you controlled — not the outcome the market handed you.
Win rate alone can't tell you whether a strategy makes money. Expectancy can. Here's what it means, how to compute it, and how to read it honestly.
A post-trade review is only as good as the questions it asks. These seven move you from "did I win?" to "did I decide well?".
Drawdown isn't just bad luck — it's largely a function of how much you risk per trade. Understanding that relationship is what keeps a losing streak survivable.
Traders argue about high win rate versus big winners as if you must choose. The two are linked by a single break-even line — and knowing where it sits changes everything.
The best journal is the one you actually keep. Here's how to design a review routine light enough to sustain and structured enough to change how you trade.
Build a review habit that compounds.
Your P&L tells you what happened, not why. A good end-of-day review grades the decisions you controlled — not the outcome the market handed you.
A post-trade review is only as good as the questions it asks. These seven move you from "did I win?" to "did I decide well?".
The best journal is the one you actually keep. Here's how to design a review routine light enough to sustain and structured enough to change how you trade.
Read your metrics honestly.
Win rate alone can't tell you whether a strategy makes money. Expectancy can. Here's what it means, how to compute it, and how to read it honestly.
Traders argue about high win rate versus big winners as if you must choose. The two are linked by a single break-even line — and knowing where it sits changes everything.
Protect capital before chasing returns.
Drawdown isn't just bad luck — it's largely a function of how much you risk per trade. Understanding that relationship is what keeps a losing streak survivable.
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