Prop Firm Trading Journal: What to Log on a Funded Account
A prop firm trading journal logs every trade against the account's limits, not just its result. Here are the fields, a weekly review and a $100K example.
OctoFunded Trading DeskUpdated ยท 9 min read
A prop firm trading journal is a log of every trade measured against the rules of the account: daily loss used, distance to the drawdown floor and how much of your profit came from one day. A normal journal asks "did I make money?", while a prop firm journal asks "how close did I get to a rule?".
On simulated capital an account ends on a limit, whatever the profit. This guide covers the fields to log, a daily and weekly review, a $100K illustrative example and how the journal maps to each OctoFunded program.
Key takeaways
- Measure rules, not only P&L: every row should show daily loss used and distance to the max loss floor.
- Plan risk before entry: log the stop and dollar risk before the trade, then compare with what happened.
- Track the best day share: one large day can delay a payout under a best day or consistency rule.
- Review on a schedule: a 5-minute daily check and a 30-minute weekly review beat a long monthly one.
- Keep it simple: a spreadsheet you fill in every day is more useful than a tool you open once a week.
What is a prop firm trading journal?
A prop firm trading journal is a trading log built around the program rules. Each row is one trade, and each row carries the rule numbers next to the result.
If the idea of a funded trading account is new to you, start there. In short, you trade a simulated account under a daily loss limit, a maximum loss and, on some programs, a best day rule. Break one and the account closes, whatever the total profit.
Why does a funded account need a different journal?
A funded account needs a different journal because it has hard limits that a personal account does not. Three rules decide most outcomes:
- The daily loss limit. Read how a daily loss limit is measured. A journal shows how much of it you used each day.
- The maximum loss floor. Static and trailing floors behave differently. See static vs trailing drawdown before you set up your columns.
- The best day share. Under a best day rule, one big day can hold more of the total profit than the program allows.
Logging the rules shows these risks while there is still room to change size.
What should you log for each trade?
Log what you planned before the trade, what happened, and where the account stands against each rule after it. These are the fields we suggest:
| Field | Example entry | Why it matters |
|---|---|---|
| Date and session | Tue, London open | Finds the sessions where you lose most |
| Instrument and setup | EURUSD, breakout | Shows which setups earn their place |
| Entry, stop, size | 1.0850, 25 pips, 2 lots | Checks the stop was set before entry |
| Planned risk | $500, 0.5% | Ties size to the account, not to mood |
| Result | Minus $500 | The trade outcome |
| Daily loss used | $1,500 of $5,000 | Shows room left for the day |
| Distance to max loss floor | $8,500 | Shows room left for the account |
| Followed plan? | Yes or no, one line | Separates bad trades from bad luck |
Planned risk. Write it before you click. Our guide on risk per trade shows how to pick a size that fits a daily limit. If the result is often larger than the planned risk, the stop is moving or slippage is higher than you think.
Daily loss used. Count closed losses and, where the rules count it, floating loss on open trades. Check the program rules for how each program measures it.
Distance to the floor. On a static floor this only changes with losses and gains. On a trailing floor it can shrink after a new high, so recompute it after every winning day.
Followed plan. One honest line separates strategy problems from execution problems.
How do you review a trading journal?
Review it in two passes: a short daily check and a longer weekly review.
Daily check (about 5 minutes):
- Did any trade risk more than planned?
- What share of the daily loss limit did today use?
- What is the distance to the max loss floor tonight?
- Was there a trade outside the plan? Why?
Weekly review (about 30 minutes):
- Win rate and average win against average loss, per setup.
- Worst day of the week as a share of the daily limit.
- Worst losing streak from a peak, in dollars.
- Best day as a share of total profit so far.
- One change for next week, written as a rule you can check.
Put the weekly change into your prop firm trading plan. A journal without a plan only records habits. A plan without a journal cannot tell you if it works.
What does a journal show on a $100K account?
Here is an illustrative example on a $100K 2-Step account on simulated capital. The rule lines are arithmetic from the program rules. The trades and results are made up to show the method. They are not a forecast or a typical result.
The rules. The 2-Step has a 5% daily loss limit and a 10% static maximum loss. On $100K that is $5,000 a day and a floor at $90,000.
The trader. Risks $500 per trade (0.5%). After two weeks, the journal shows:
| Measure | Journal value | Share of the limit |
|---|---|---|
| Worst day | Minus $2,500 | 50% of the $5,000 daily limit |
| Worst losing streak | Minus $4,000 | 40% of the $10,000 max loss |
| Trades over planned risk | 3 of 40 | Each lost $750 instead of $500 |
| Losses at the New York open | 6 of 14 losses | One session drives most losses |
| Best day | Plus $2,000 of $5,000 total | 40% of total profit |
What the trader learns. The worst day used half the daily limit, which leaves room for a slipped stop. The streak used 40% of the floor, so a second streak of the same size would still leave $2,000 of room. Both look acceptable.
The warning signs. Three trades lost 50% more than planned, which suggests stops moved or size crept up. Six of fourteen losses came at one session. The weekly change could be: "No new trades in the first 15 minutes of the New York open, stop never moved further away."
The best day. A 40% share would sit inside the 1-Step's 50% best day cap, but one more large day without other profit could push it over. Check the 2-Step program rules for how it treats a large day.
None of these numbers say the trader will pass. They say where the next breach is most likely to come from.
How does the journal change by OctoFunded program?
The columns stay the same, but the numbers you watch change with each program. These are the confirmed rules:
| Rule | 1-Step | 2-Step | Instant Funded |
|---|---|---|---|
| Profit target | 10% | 10% then 5% | No evaluation phase |
| Daily loss limit | 4% | 5% | 3% |
| Maximum loss | 8% trailing | 10% static | 12% static |
| Best day cap | 50% of total profit | See the program rules | See the program rules |
| Journal focus | Floor after new highs, best day share | Daily limit and streaks | Tight daily limit |
1-Step. The trailing floor rises with new highs, so log the floor every day, not only the balance. Track the best day share against the 50% cap.
2-Step. The floor is static, so the journal mostly watches the 5% daily limit and the longest losing streak across both phases.
Instant Funded. The 3% daily limit is the tightest of the three, so log daily loss used after every trade. Payouts 1 and 2 are capped at 3% of the initial balance, subject to the program rules.
All three programs run on simulated capital with a one-time fee, no time limit and EAs allowed. If you run an EA, log its trades in the same journal. Full wording is in the program rules.
What mistakes make a trading journal useless?
The common mistake is a journal that records results but not decisions. Watch for these:
- Filling it in days later. Log the same day.
- No planned risk column. You cannot see size creep.
- Only closed trades. If floating loss counts, log the worst open drawdown too.
- No weekly change. A review without one written rule changes nothing.
Many of these show up in why traders fail prop firm challenges.
Where does OctoFunded fit?
Judge it on the rules you can read today. The rules for each program are published before you buy, which means you can build your journal columns before your first trade. Accounts trade on simulated capital in OctoFunded Web with TradingView charts. On the 1-Step and 2-Step, payouts come every 14 days at an 80% profit split, and Instant Funded pays a 100% split, first after 7 days and then weekly. All payouts are sent in USDT or USDC on-chain with a public transaction hash, subject to the program rules.
If you are still at the start, read how to become a funded trader first, then set up your journal on a demo before you pay for a challenge.
FAQ
What is a prop firm trading journal?
A prop firm trading journal is a record of every trade measured against the account's rules: how much of the daily loss limit each trade used, how far the account sits from the drawdown floor and what share of total profit the best day holds. It shows rule risk before it becomes a breach.
What should I log for each trade on a funded account?
Log the date, instrument, setup, entry, stop, size, planned risk in dollars and as a percent, result, daily loss used after the trade, distance to the max loss floor and one line on whether you followed your plan.
How often should I review my trading journal?
Do a short check at the end of each trading day and a longer review once a week. The daily check confirms you stayed inside the limits. The weekly review looks for patterns such as losses clustered at one session or larger size after a loss.
Does a trading journal help pass a prop firm challenge?
A journal cannot make you pass. It shows whether your losses, streaks and best days fit the program rules, so you can change size or habits before a limit is hit. Results on simulated capital still depend on your trading and on the program rules.
Should I use a spreadsheet or an app for a trading journal?
Either works if it holds the rule columns. A spreadsheet is enough for most traders: one row per trade, a daily summary and a weekly review tab. What matters is that you fill it in the same day, every day.
Build your journal around the rules you buy
Read the 1-Step, 2-Step and Instant Funded rules, set your journal columns to match, and start on simulated capital with a one-time fee and no time limit.
