Why exit logging matters
Most traders record the outcome but skip the decision quality at exit. A good exit entry helps you compare results against the original risk plan and spot patterns during the weekly review.
Exit checklist
- Exit timestamp and price recorded. Capture what was actually filled, not what you intended to fill.
- Exit reason selected. Note whether the exit was target reached, stop hit, time-based, manual adjustment, assignment-related, or invalidation.
- Plan adherence marked. Record whether the exit followed the pre-trade plan or a later documented adjustment.
- Deviation explained. If you changed the plan, write the trigger and why the change was made.
- Position fully closed or partial. Indicate whether this was the final exit or one step in a scale-out process.
- Next review tags applied. Tag the trade for process review (for example: late exit, early profit-taking, sizing error, clean execution).
Suggested journal fields for exits
| Field | Why it helps | Example |
|---|---|---|
| Exit reason | Makes reviews sortable by decision type | Profit target reached |
| Plan followed | Separates process from outcome | Yes / No |
| Deviation note | Explains exceptions and context | Exited early before earnings IV crush |
| Scale status | Prevents confusion in partial exits | 2 of 4 contracts closed |
| Next-step tag | Queues follow-up during review | Review-risk-reward |
Keep exit reason codes simple
Use a short list of consistent reason codes instead of writing a different phrase every time. Consistency improves filtering in performance reviews and makes process trends easier to spot.
- Target: planned profit target or range reached
- Stop: planned max loss or invalidation reached
- Time: time-based exit (expiry window, DTE rule, event deadline)
- Adjust: exit as part of a documented roll/hedge plan
- Discretionary: manual decision outside plan (requires note)
Consistency tip: If you use a discretionary exit code, always add one sentence explaining the trigger so future-you can evaluate the decision quality.
Questions to answer before you move on
- Did the exit follow the original plan or a documented adjustment?
- If not, what changed and was the change repeatable?
- Was the exit timing driven by process, emotion, or missing information?
- What tag should be reviewed this week so the lesson is not lost?
Related guides
Use this checklist with the trade tracking workflow, the risk plan checklist, and the performance review guide.
FAQ
Should I record an exit reason for partial closes?
Yes. Partial exits can reflect profit-taking, risk reduction, or a rolling plan. Recording the reason keeps the trade history reviewable.
What if I forgot to write the exit note at the time?
Add it as soon as possible and mark it clearly as a delayed note so your review reflects the gap in process timing.