I use something along the lines of what envid has stated above and to answer your query, yes – keeping a journal will help you streamline your trading. And a few websites will allow you to download a preset format [excel] which you can use or you can check this forum for other trader’s trading journal and come up with your own..
I use a spreadsheet to record my trades and a text document as a journal. The journal includes notes and observations and marked up charts.
I use OpenOffice, which is very similar to Microsoft Office and it’s free. It includes alternatives to Excel and Word.
Yes but would prefer the excel format, it works good, have not tried any other format for the moment. And maintaining a journal in word may not be advisable, when it comes to analysis..at least, that’s what I’d discovered when I started to keep a journal..
Yes- Excel has rarely improved my trading. I recorded all my trades in a excel format and try to make an analysis by using charts. It is also useful to test some new strategies.