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Daily and maximum drawdown are calculated differently and reset on different schedules. Here is how the two limits actually work, and how to track both in a trading journal instead of guessing from your account balance.
A category-by-category look at trading journal options in 2026: spreadsheets, notes apps, platform trade history, and dedicated software, so the choice matches how you actually log trades.
A prop firm challenge is a paid trading evaluation with a profit target and strict loss limits. See the typical two-phase structure, real FTMO rule examples, and what changes after you pass.
Expectancy is the average result a trading strategy produces per trade, measured in R. See the formula, a worked example, and why pairing it with trade frequency (opportunity) matters.
Loss aversion is the tendency to feel a loss more intensely than an equal gain, and in trading it shows up as cutting winners short while holding losers too long. See the research behind it, how to spot the pattern in a trading journal, and how to fix it with structure instead of willpower.
Excel and Google Sheets can log trades for free, but win rate, R-multiple, and profit factor still need manual formulas that quietly break as trade volume grows. See when a spreadsheet is still the right call, and what a dedicated trading journal actually adds beyond calculation.
A trading edge is a measurable positive expectancy that holds up over enough trades to rule out luck, not a setup that felt right on your last few wins. Learn how many trades it takes to trust a pattern, why backtests can fake an edge, and how to turn setup tags into a real, checkable measurement.
Overtrading is placing more trades or larger positions than your strategy's edge actually supports. This guide covers why it happens, the exact signals that show up in a trading journal before the account balance does, and how to catch the drift early using a personal baseline instead of a fixed rule.
A dashboard only pays off if it gets checked on a routine. Here is what to look at, in what order, and why filtering by period matters more than any single metric.
An R-multiple expresses a trade's profit or loss as a multiple of the amount risked, called R. Learn the formula, a worked example, and how to read R-multiples in a trading journal.
FOMO trading means entering a position because price is already moving, not because a planned setup triggered. This guide covers why the fear of missing out gets activated in fast markets, what a FOMO entry looks like in a trading journal, and how to catch the pattern before it compounds into losses.
BitStat is a trading journal and performance dashboard for prop firm, live, and manually tracked accounts. Here is what each part of the product actually does.
