Guide
Review every trade in the same order, whether it won or lost. Capture the facts first, compare the decision with your playbook, grade risk and execution, inspect MAE/MFE and the exit, then finish with one correction you can test on the next sample.
Record instrument, session, direction, setup, entry, initial stop, target, size, exit, fees, and result in R. Save the chart before entry and after exit. Facts collected before interpretation stop memory from rewriting the trade around its P&L.
Name the playbook setup and check every entry criterion. If the trade had no defined setup, label it unplanned even when it made money. A profitable rule break is not proof that the decision was repeatable.
Compare planned risk with actual risk. Check whether position size matched the stop, invalidation was based on market structure, the daily loss limit was respected, and the stop was widened after entry. Grade the process separately from the outcome.
Write what the market showed at entry and what you did next. Note chasing, hesitation, scaling, slippage, missed confirmations, or an early stop move. This separates a valid thesis from weak timing or inconsistent execution.
Measure maximum adverse excursion and maximum favorable excursion in R. Compare the actual exit with the planned target and available move. Review similar setups together before deciding that a stop, target, or trailing rule needs to change.
Use two labels: result and process. A good-process loss can be acceptable; a bad-process win still needs correction. This prevents random wins from entering the playbook and keeps normal strategy variance from looking like a mistake.
Finish with one observable change: add a checklist gate, rewrite one playbook rule, cap risk after two losses, or wait for a specific confirmation. Avoid vague notes such as “be disciplined.” Test one change across the next comparable sample.
Suppose an off-plan breakout risks 1R and closes at +1.5R after the stop was widened. Log the result as a win but the process as a rule break. The correction is not “take more breakouts”; it is “no entry without the playbook trigger and fixed invalidation.”
Include the setup and entry criteria, entry and exit, initial stop and target, position size, result in R, screenshots, rule adherence, execution notes, MAE/MFE, process grade, and one next action.
Yes. Give every trade a short review so the record stays consistent, then use the weekly review to group trades by setup, mistake, session, risk, and exit quality before changing rules.
A factual per-trade review can take five to ten minutes. A weekly review may take longer because it compares a sample instead of judging one trade in isolation.
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