Creating Your First Trade
Learn how to log a trade in Trader Diary. This step-by-step guide walks you through the entire process.
Overview
Logging a trade in Trader Diary is designed to be fast and frictionless. You can log a simple trade in under 30 seconds, or add more detail for complex multi-leg positions. Every trade captures the essential data needed for performance analysis.
Tip: Don't worry about perfection on your first trade. You can always edit trades later, and the goal is to get familiar with the interface. Start simple, then add more detail as you become comfortable.
Step-by-Step Guide
Navigate to New Trade
From your dashboard or the main navigation, click "New Trade" or navigate to /trades/new. This opens the trade entry modal.
Enter Basic Trade Information
Start with the essential fields:
- Symbol: The trading instrument (e.g., "EURUSD", "AAPL", "BTC/USD")
- Market: Select the asset class (Forex, Stock, Crypto, Futures)
- Direction: Long (buy) or Short (sell)
Quick Tip: If you have real-time market data enabled, typing the symbol will show live prices to help you enter accurate values.
Add Trade Legs
A leg is an individual buy or sell execution. For a simple trade, you'll have two legs: one entry (BUY or SELL) and one exit (the opposite). Click "Add Leg" to add each execution:
- Side: BUY (for long entries or short exits) or SELL (for short entries or long exits)
- Price: Execution price for this leg
- Quantity: Size/units traded
- Executed At: Timestamp of the execution
- Fee: Commission or spread cost (optional but recommended)
Multi-leg trades: You can add multiple legs for scaling in/out, partial exits, or complex strategies. Trader Diary automatically calculates the net position and P&L.
Set Risk Management (Optional)
If your trade is still open or you want to set automatic exit levels, you can configure:
- Stop Loss: Price level at which the trade will automatically close at a loss
- Take Profit: Price level at which the trade will automatically close at a profit
When price hits these levels, Trader Diary will automatically mark the trade as closed and calculate final P&L. This is especially useful for active monitoring of open positions.
Add Journal Entry (Recommended)
While not required, adding a journal entry helps you capture the qualitative aspects of the trade. Switch to the "Journal" tab and fill in:
- Setup: Tag the trade with your trading setup/strategy
- Emotions: How you felt during the trade (fear, greed, discipline, FOMO, etc.)
- Mistakes: Any errors made (overtrading, revenge trading, not following rules, etc.)
- Notes: Free-form thoughts, lessons learned, or observations
Review and Save
Before saving, review the trade summary. Trader Diary will show:
- Net P&L (profit or loss)
- Return percentage
- Holding time
- Trade status (WIN, LOSS, WASH, or OPEN)
Click "Save Trade" to add it to your journal. The trade will immediately appear in your dashboard and all metrics will update automatically.
Common Questions
What if I make a mistake?
No problem! You can edit any trade after saving it. Simply navigate to the trade in your trades list, click on it, and select "Edit". You can modify any field, add or remove legs, or update the journal entry.
Do I need to log every single trade?
For best results, yes—but start with what's manageable. Even logging 80% of your trades will give you valuable insights. The key is consistency. Many traders start by logging their most important trades, then gradually increase coverage as the habit forms.
How long does it take to log a trade?
A simple trade with two legs takes about 30-60 seconds. Adding journal entries adds another 30-60 seconds. With practice and keyboard shortcuts, many traders can log trades in under 30 seconds. The time investment is minimal compared to the insights you gain.
What's Next?
Now that you've logged your first trade, explore these guides to get the most out of Trader Diary.