How to Build a CFD Trading Journal: UK Guide

A CFD trading journal is your roadmap to consistent improvement and better decisions. Without one, you’re flying blind. With one, you can sharpen your edge, analyse your trades, and trade smarter over time. But how to build a creating journal? This article walks you through every step of building a simple yet powerful journal — designed specifically for traders in the UK.

Why You Need a CFD Trading Journal

A good CFD trading journal is more than a logbook. It’s your performance tracker, your personal coach, and your mirror. It helps you spot patterns, fix recurring mistakes, and refine what works.

Traders often overestimate how well they perform — memory is unreliable. A journal provides self-analysis grounded in hard data. It forces you to reflect on both your wins and losses. Over time, this reflection leads to better discipline, sharper strategies, and more consistent results.

Without it, you’re guessing. With it, you’re learning and growing.

Step 1 – Start with the Basics

How to start a trading journal? Begin with the core: what you traded, when, and how it ended. This part is simple, but vital. Here’s what to write down in your CFD trading journal:

Entry price
Exit price

Profit and loss for the trade
Time and date of entry and exit
Instrument traded (e.g., FTSE 100, GBP/USD)

This forms the backbone of your journal. Keep it clean and structured. A spreadsheet is a great start. Add a new row for every trade. It should take no more than a minute to fill out. Don’t rely on memory — log it immediately after closing the trade.

Step 2 – Add Strategy and Risk Details

Now, dig deeper. Successful traders don’t just track outcomes — they understand why those outcomes happen. Add the following:

Trading strategy used (e.g., breakout, mean reversion, trend following)
Risk-reward ratio (how much you risked vs. how much you aimed to gain)
Position size (lot size, margin used)

These details show if your strategies are working. Are you sticking to your plan? Are you taking on too much risk for too little reward?

By recording this, you’ll start noticing trends. You may find that one strategy performs well during volatile markets, while another fails. You can cut what’s not working and double down on what is.

Step 3 – Track Emotions and Market Conditions

Numbers tell part of the story. Emotions tell the rest.

Every trader feels fear, greed, hope, and doubt — especially with CFD trading. Emotions can cloud judgment. That’s why it’s important to track them. Ask yourself:

What was I feeling before and during the trade?
Did I follow my plan or deviate? Why?
Did market conditions (e.g., news, volatility) affect my choices?

Note the market conditions on the day of the trade — was there a news release, central bank decision, or sudden volatility? This adds valuable context.

The emotional discipline part is huge. Over time, you’ll notice how feelings influence your actions. This awareness is step one to mastering them.