How to Create a Forex Trading Journal in Excel (2 Free Templates)

Here’s a typical Forex Trading Journal. You can see several parameters regarding Foreign Exchange data. We need the values of Size-Volume of the lot, traders’ expectation parameters Long or Short, Entry, Stop Loss, and Take Profit values of the currency.

Method 1 – Using a Simple Excel Sheet to Create a Forex Trading Journal

Steps:

• Make a spreadsheet like the following image. Insert the Initial and Maximum values.

• Create some Data Validation. This will make our Trading Journal look more convenient.
• To create the Data Validation list for the currency in cell C5, select it and then choose Data and go to Data Validation.
• The Data Validation window will appear. Select List from the Allow section and type the currency pairs in the Source.

• Drag the Fill Handle icon downwards to autofill the lower cells.

• You can see the currency pairs if you click on the drop-down icon shown in the following image.

• Similarly, create another Data Validation list for the Long and Short positions of the traders.

• Copy the following formula to calculate the Risk/Reward ratio in column I (starting with I5), which gives you the idea of winning or losing a risk in the Foreign Exchange:

The formula uses the IF function and returns the Risk/Reward ratio by using the Entry, Stop Loss and Take Profit values. If this ratio is greater than 1 then the Risk is higher than the Reward, but if it’s less than 1 then the Reward is positive, meaning the risk would be worth taking.

• Insert the data according to the market infrastructure. We’ve put some random values. You can see that the R/R ratio (Risk/Reward) is 2.

The following image is filled with some values that can be related to the practical marketplace.

Method 2 – Using an Excel Table to Create a Forex Trading Journal

Steps:

• Follow the steps of Method 1 up to the formulas.
• Select the range of cells and then go to Insert and select Table.
• A dialog box will pop up. Make sure you select My table has headers, then click OK.

• Your data will convert to a table.

• Insert the Forex data that you obtained. We’ve put some random convenient values in the table.

• Whenever you insert an entry in the row adjacent to the first row, it will automatically update the Data Validation lists or formulas.

Insert a new entry and you will get the Risk/Reward for that entry.

You won’t need to use the Fill Handle or AutoFill process while using a table.

Download Practice Workbook

Related Articles

• How to Make Journal Entries in Excel
• How to Make a Trading Journal in Excel
• How to Create a Bullet Journal in Excel

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