A forex trading journal is one of the most powerful tools in a trader’s arsenal. It helps track performance, refine strategies, and stay accountable. Google Sheets is a popular and accessible platform for creating a free forex trading journal that’s cloud-based, easy to customise, and shareable across devices.

This article explores how to set up a forex trading journal in Google Sheets, what to include, and how to use it to improve your trading results.

What Is a Forex Trading Journal?

A forex trading journal is a structured log where traders record every trade, including:

• Entry and exit points
• Lot size
• Currency pair
• Time of trade
• Reason for entry
• Emotions or mindset
• Trade outcome and notes

It allows for performance analysis over time, revealing patterns, strengths, and weaknesses.

Why Use Google Sheets for Your Trading Journal?

• Free and Cloud-Based: No cost, accessible from any device
• Customisable: Tailor to your strategy, trading style, and metrics
• Collaborative: Share with mentors, accountability partners, or coaches
• Visual: Use charts, graphs, and conditional formatting

Essential Columns to Include in a Google Sheets Forex Journal

Column	Purpose
Date/Time	When the trade was placed
Pair	e.g. EUR/USD, GBP/JPY
Buy/Sell	Trade direction
Entry Price	Price at entry
Exit Price	Price at exit
Stop Loss	SL level (if any)
Take Profit	TP level (if any)
Lot Size	Trade volume
Pips Gained/Lost	Trade movement outcome
Risk:Reward Ratio	Planning metric
Strategy Used	e.g. breakout, reversal, trend-following
Emotion/Mindset	e.g. anxious, confident
Notes	Lessons learned, improvements

Optional: Use Google Data Studio or built-in Charts for monthly summaries.

How to Set Up Your Free Trading Journal in Google Sheets

1. Create a New Sheet: Go to Google Sheets → Start a blank spreadsheet.
2. Label Columns: Use the headers listed above.
3. Add Data Validation: Dropdown menus for ‘Buy/Sell’, ‘Strategy’, or ‘Currency Pair’.
4. Use Conditional Formatting:
   • Green for profits
   • Red for losses
5. Add Summary Tabs:
   • Win rate
   • Average R:R ratio
   • Monthly performance
6. Secure Your Journal: Use Google Drive permissions to protect or share access.

Case Study: Improving Performance with a Google Sheets Journal

Trader: Kenta, Tokyo-based part-time forex trader
Before: Sporadic wins, inconsistent R:R
After: Used a Google Sheets forex journal to track every trade for 90 days
Result: Increased win rate from 48% to 61%, improved discipline, and cut losses faster

Kenta later used his journal as a reference when applying for a funded trading account, showcasing consistency and risk management.

Key Takeaways

• A Google Sheets forex trading journal is a free, flexible, and powerful tool for traders at any level
• Logging trade data builds self-awareness and strategy refinement
• Custom summaries and visual analytics boost decision-making
• Used consistently, it can dramatically improve long-term performance

Frequently Asked Questions

Is Google Sheets good for forex journaling?

Yes, it’s free, cloud-based, and customisable. It allows traders to record and analyse data from any device.

Can I track my trading psychology in Google Sheets?

Absolutely. Add a column for emotions or mindset during each trade for powerful insights.

Are there templates available for forex journals in Sheets?

Yes, you can find free forex trading journal templates on sites like Tiller, TradingView forums, Reddit, or GitHub.

What metrics should I track in a forex journal?

Track trade entry/exit, lot size, pips gained/lost, R:R ratio, strategy used, and emotional state.

Can I use Google Sheets for backtesting too?

You can manually record backtesting results, but for automation or large-scale backtesting, software like Excel with VBA or trading platforms is more suitable.