What is Mistake Log?
A mistake log is a structured record of every identifiable trading error, categorised by type (rule break, overtrading, poor sizing, premature exit, emotional entry, etc.) and maintained alongside the regular journal. Regular review of the mistake log identifies recurring patterns that persist across setup tags and sessions.
Indian market context (NSE)
Reference levels: Nifty 50 at 24,300, Reliance Industries at ₹1,300, Bank Nifty futures at 55,000 (lot size 30). Examples below show how Mistake Log shows up on Indian index, equity, and futures books — update to live quotes in your journal.
Nifty 50 perspective
Mistake Log often appears after Nifty moves 150+ points from open while you waited — journal “Nifty FOMO” entries separately from A-grade setups at 24,300 levels.
Reliance Industries perspective
Mistake Log on Reliance trades is common around results noise at ₹1,300 — rate discipline 1–5 in TradeLyser even when P&L is green.
Bank Nifty futures perspective
Mistake Log after Bank Nifty whipsaws 200 points around 55,000 triggers revenge sizing — enforce max daily loss before re-entering MIS.
How to validate
- Validate Mistake Log tags against time-stamps — impulse entries cluster after losses.
- Compare P&L on tagged vs untagged sessions over 20+ trading days.
- Use mentor review to confirm tag definitions stayed consistent.
- Do not validate solely on one exceptional week of discipline.
How to track in TradeLyser
- Add psychology grade and Mistake Log-related tag on each trade card.
- Use daily journal mood line when Mistake Log risk is elevated.
- Dashboard: count psychology violations per week alongside P&L.
- Share tag definitions with mentor before monthly review.
Best practices
- Separate process score from P&L when reviewing Mistake Log.
- Use cooldown timers after rule breaches involving Mistake Log.
- Sleep on size increases — never add risk the same day as a Mistake Log violation.
- Celebrate disciplined losses that followed the plan.
Common pitfalls
- Labelling trades after the fact to match desired self-image.
- Increasing size to fix a Mistake Log episode immediately.
- Confusing a green day with cured Mistake Log behaviour.
- Skipping tags on “small” impulsive trades.
Reference guide
| Context | Value | Reading |
|---|---|---|
| Logging honesty | Every mistake logged at the time, including small ones | Only catastrophic mistakes logged — underestimates the frequency of subtle errors |
Related terms
A discipline score is a quantified measure of plan adherence calculated from the proportion of trades that followed all predefined rules — entry criteria, stop-loss placement, position sizing, and exit discipline. A score of 100% means every trade in the session matched the plan; lower scores identify where deviation occurred.
A pre-trade checklist is a fixed list of conditions that must be true before order placement — covering setup validity, risk size, stop location, daily loss headroom, and emotional readiness. It converts discretionary impulses into pass/fail decisions.
Process is whether you followed the plan; outcome is whether the trade won — they decouple short term.
A rule break is a documented instance where a trader's action during a trade deviated from their written trading plan — such as entering without a setup signal, moving a stop-loss, adding to a losing position, or ignoring a daily loss limit. Rule breaks are tracked in the journal to measure discipline and identify the most costly deviations.
A trade post-mortem is a deliberate replay and write-up of a single trade (or session) to extract durable lessons — covering setup quality, execution timeline, emotional triggers, and alternative actions. It goes deeper than a one-line post-trade note.
A weekly review is a dedicated 30–60 minute session at the end of each trading week during which a trader examines their journal entries, calculates key metrics, identifies rule breaks and emotional patterns, and documents lessons and adjustments for the following week.
FAQ
How often should I review my mistake log?
Review your mistake log weekly during your weekly review. Look for the top 3 recurring errors and set one specific intervention rule for each. After 4 weeks, re-check whether those errors have decreased. Monthly pattern analysis is where the biggest behaviour improvements come from.
Does TradeLyser have a built-in mistake log?
Yes — TradeLyser lets you tag each trade with one or more mistake labels (Rule Break, Oversize, FOMO Entry, Premature Exit, Revenge Trade, etc.). The Mistakes Report shows frequency by type over any date range, so you can see which error categories are persisting or improving.
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