The Trader’s Ledger.

Trading articles

Plain-English guides to the setups, sessions and risk rules behind The Trader’s Ledger. Written by a trader, for traders.

Trading journal examples: what to write after every trade
Four real-format trading journal examples (a good win, a good loss, a bad win and a weekly review) showing exactly what to write and what to look for.
7 min read →
The prop firm trading journal: how to pass the challenge and keep the account
Why most prop firm challenges are lost to rule breaks, not bad setups, and what to record in a journal to stay inside the daily loss and drawdown limits.
7 min read →
Tradervue alternative: a journal built for forex and gold traders
Tradervue is a solid, long-running journal for US stock traders. Here's what it costs, where it fits forex traders less well, and the alternatives.
6 min read →
TraderSync alternative: a trading journal without the monthly fee
TraderSync is powerful but costs from $29.95 to $79.95 a month. Here's who it suits, who it doesn't, and a one-off alternative for forex and gold traders.
6 min read →
Myfxbook alternative: when you need a journal, not just statistics
What Myfxbook does well, what it doesn't do as a trading journal, and the alternatives for forex and gold traders who want setups, rules and privacy.
7 min read →
The forex trading journal: what to log, and how to turn it into an edge
What a forex trading journal should record that MT4 and MT5 don't: session, setup, R and rules. With an example entry, a weekly review routine and a free template.
8 min read →
The best free trading journal options (and when it’s worth paying)
Five genuinely free ways to keep a trading journal, from a ready-made spreadsheet to Myfxbook, with what each one is good at and where each falls short.
7 min read →
Free trading journal template for Excel and Google Sheets
Download a free trading journal template for Excel and Google Sheets: a trade log that works out your R:R, result in R and P/L, plus win rate and results by setup.
8 min read →
The previous day high and low strategy (PDH and PDL), explained
Why yesterday's high and low are some of the most watched levels in forex and gold, how to trade a sweep or a break of them, and where the day really starts.
7 min read →
When the clocks change: forex session times in the gap weeks (UK)
The UK and the US change their clocks on different weekends. Here's what moves an hour earlier for UK traders in those gap weeks, with the dates for 2026 and 2027.
6 min read →
The Asian range strategy: how London sweeps it, and how to tell a sweep from a breakout
The Asian range in UK time, why London so often runs one side of it, and simple rules for telling a sweep from a breakout. With a worked gold example.
8 min read →
A free kill zone indicator for MT4 and MT5, in UK time
What a good kill zone indicator should show, why most get UK time wrong twice a year, and how to set up and use the free TTL Kill Zone Clock on MT4 or MT5.
7 min read →
Fibonacci retracement strategy: how to draw it, the OTE, and where your stop goes
How to draw a Fibonacci retracement properly, which pullback depths matter, the OTE pocket at 61.8 to 78.6%, and where to put your stop and targets.
9 min read →
New York session times in UK time: the open, the kill zone and US data
The New York session in UK time: the 12:00 to 15:00 kill zone, US data at 13:30, the stock open at 14:30, and the weeks each year when it all moves an hour.
6 min read →
Pin bar trading strategy: the rules that separate good pins from noise
What a pin bar is, the five rules a real pin must pass, where pin bars work best, and a complete plan for entry, stop loss and targets. With diagrams.
9 min read →
NAS100 and US30 lot size: how to size index trades in MT4 and MT5
Why one lot of NAS100 or US30 is worth different amounts at different brokers, how to check it in MetaTrader, and worked lot size examples for indices.
7 min read →
Position sizing for prop firm challenges: how much to risk, and why
How daily loss and maximum loss limits change your position sizing, how much to risk per trade on a funded challenge, and worked examples on a $100k account.
8 min read →
How much should you risk per trade? The 1% rule, explained
Why most traders risk 0.5% to 2% per trade, what each level does to your account in a losing streak, and how to choose the right risk for you.
7 min read →
Pip value explained: how to calculate it for any pair, gold and indices
What a pip is, how to calculate pip value for dollar, pound and yen pairs, gold and indices, and how to convert it into pounds. With a pip value table.
7 min read →
How much is 0.01 lot in gold? Gold lot sizes explained
What 0.01, 0.10 and 1.00 lot of gold is worth per $1 move and per pip, how much margin it needs, and a lot size table for XAUUSD on a UK account.
7 min read →
MT4 and MT5 trading journal: how to journal your MetaTrader trades properly
How to keep a trading journal for MT4 and MT5: what MetaTrader already records, what it misses, and a simple routine for forex and gold traders.
7 min read →
Edgewonk alternative: a one-off trading journal for UK forex and gold traders
An honest Edgewonk alternative for UK forex and gold traders: compare price, psychology tracking and data, plus a journal you pay for once.
6 min read →
TradeZella alternative: a UK trading journal with no monthly subscription
Looking for a TradeZella alternative? An honest comparison on price, features and data, and a one-off £19 journal for UK forex and gold traders.
7 min read →
The best trading journal in 2026: an honest guide (and why you shouldn’t pay monthly for one)
We compare TradeZella, TraderSync, Edgewonk and Tradervue on price and features, and show forex and gold traders a one-off journal with no monthly fees.
11 min read →
Volume profile explained: POC, value area and how to trade it
Volume profile explained: the POC, value area, high and low volume nodes, which profile to use, and three practical ways to trade it on forex and gold.
8 min read →
Break of structure vs change of character (BOS vs CHoCH)
BOS vs CHoCH in plain English: what each one is, how to mark swings, why closes beat wicks, and how they fit with sweeps and CISD. With a diagram.
6 min read →
Drawdowns and losing streaks: the maths every trader needs
How long a losing streak to expect at your win rate, why a 50% drawdown needs a 100% gain, and how risk per trade decides if you survive a bad run.
7 min read →
How to stop revenge trading: 7 rules that actually work
Why revenge trading happens, the warning signs, and seven practical rules, from a daily loss limit to a cooling-off timer, that stop it costing you.
7 min read →
How to write a trading plan, with a free template
A free fill-in trading plan template for forex and gold: markets, hours, setups, risk rules, trade management and review, with a worked example.
8 min read →
Forex market hours in UK time: the sessions and when to trade them
Forex market hours in UK time: the Sydney, Tokyo, London and New York sessions, the 13:00-17:00 overlap, and what changes when the clocks change.
6 min read →
The best time to trade gold in UK time, hour by hour
When gold moves in UK time: the Asian range, London open, LBMA auctions, US data at 13:30, the New York session, and the hours to avoid.
7 min read →
How to trade gold (XAUUSD) for beginners: a UK guide
How gold trading works, what moves the price, the best UK hours, how to size a XAUUSD trade, the news that matters and the mistakes that blow accounts.
10 min read →
How to keep a trading journal: what to record, and how to review it
How to keep a trading journal that improves your trading: what to record on every trade, a weekly review routine, and the mistakes that make journals useless.
7 min read →
Risk to reward ratio explained: what win rate do you actually need?
What risk to reward ratio means, the breakeven win rate for 1:1, 1:2 and 1:3 trades, how to calculate expectancy, and why a higher R:R isn't always better.
6 min read →
Order blocks and breaker blocks explained, with examples
What an order block is, how to tell a valid one from a random candle, how a failed one becomes a breaker block, and clear rules to trade both.
7 min read →
What is CISD (change in state of delivery)? A simple explanation
CISD in plain English: what a change in state of delivery is, how it differs from a break of structure, and how to use it as an entry after a sweep.
5 min read →
ICT Silver Bullet times in UK time, and how to trade the setup
The three Silver Bullet windows converted to UK time, what changes when the clocks go forward or back, and a simple rule-based way to trade the setup.
6 min read →
What is a fair value gap (FVG), and how do you trade it?
Fair value gaps in plain English: how to spot a bullish or bearish FVG, why price returns to them, and a step-by-step plan for entry, stop and target.
7 min read →
The best trading journal for professional traders in 2026: what matters, and how the top journals compare
What a professional trading journal must track, and an honest 2026 comparison of Edgewonk, TraderSync, Tradervue, TradeZella, TradesViz and spreadsheets.
10 min read →
How to calculate lot size for forex, gold and indices, with examples
The lot size formula, pip values for forex, gold and indices, and worked UK examples for EURUSD, USDJPY, XAUUSD and NAS100. Free calculator included.
9 min read →
London kill zone times (UK) and how to trade the London open
The London kill zone in UK time, how the clock changes affect it, and three London open setups: the Judas swing, the kill zone reversal and the breakout.
6 min read →
How to trade a liquidity sweep, step by step
What a liquidity sweep is, where liquidity sits, how to tell a sweep from a breakout, and a five-step plan for entry, stop and target. With diagrams.
7 min read →