Excel BTCUSD Spreadsheet Journal Book
Excel Bitcoin Spreadsheet Journal will track all your cryptocurrency trades in a Excel Bitcoin Spreadsheet Journal. By following this simple & easy to follow excel bitcoin spread sheet journal writing tip, you can easily improve your bitcoin trading results. Here is how you do it:
Step 1 - Write down WHY you are making a bitcoin trade BEFORE opening a bitcoin trade on your excel bitcoin trading spreadsheet journal.
Before opening a bitcoin trade, write in a excel bitcoin spreadsheet journal the reasons why you are making the bitcoin trade. Just write in the excel bitcoin spreadsheet journal a few key reasons why you are making this bitcoin trade. Be honest with this excel bitcoin trading spreadsheet journal. If you are honest, it will prevent you from making the biggest mistakes in your bitcoin trading. If you see that you're making the bitcoin trade because of anything other than a sound bitcoin trading strategy. DO NOT MAKE THE Bitcoin TRADE TRANSACTION!
If you make a losing bitcoin trade, do not open another bitcoin trade immediately so that to make profits to neutralize the losses you have made, this is known as revenge bitcoin trading, do not revenge against the btcusd market. Switch off the PC computer, walk away, & take a very cold shower to cool down. And remember that you'll never lose money that you don't put in. A winning strategy is not only about how much you win, but how much you do not lose.
Step 2 - Write down how you will exit the bitcoin trade BEFORE making the bitcoin trade.
Do not get trapped with a great entry bitcoin strategy without an exit strategy. Your bitcoin strategy should have both great entry and exit strategies. One is useless without the other.
But you ask, Why bother? I know my bitcoin trading exit strategy. Why do I have to write this down?
Well, the reason is this: humans are at best irrational, impulsive, & emotional creatures. If you have your bitcoin exit strategy written down, you have a frame of reference when you exit a bitcoin trade. You will refer to your excel bitcoin spreadsheet journal BEFORE exiting a bitcoin trade. If you are closing a trade for any reason other than your original bitcoin exit strategy, you must ask yourself why?
Your excel bitcoin spread sheet trading journal will save you more money than you can imagine. It will prevent you from making the impulsive moves, which is usually why bitcoin traders lose money in cryptocurrency trading.
Step Three - Write down why you exited the bitcoin trade.
This should be the same reason that you wrote down in step 2. If it isn't, it is upto you to analyze it. Most common reason why traders deviate from their bitcoin strategy is lack of discipline. Your excel bitcoin spreadsheet journal will be looking back at you with glaring evidence of exactly why you're not a winning Bitcoin trader.
Step 4 - How to Analyze the Bitcoin trading results
You must learn from your mistakes in bitcoin trading. This is the best way for anyone to improve their profits. Everybody makes mistakes, but the great bitcoin traders are able to learn from them & not repeat.
And the best way to learn from your mistakes is to write down & document them in a excel bitcoin trading spread-sheet journal. A few years down the road, you can still look back & realize that you're still making the same errors you were when you first began trading bitcoin.
This information can't be found in any book or seminar. Your excel bitcoin spreadsheet journal is personal and is uniquely you. Your personality will determine the type of bitcoin trader you'll become, & will also determine the type of mistakes you will make.
Not only does your excel bitcoin spreadsheet journal highlight your weaknesses, it will reveal the cryptocurrency trades that are the most profitable. After a little while you'll see the type of bitcoin trade setups that make you the most money, & a bitcoin pattern will emerge. Do not let this information on your excel bitcoin spreadsheet journal go to waste.
You should do every effort to understand why those cryptocurrency trades went well & try to replicate it as often as possible. Profitable bitcoin traders know their strengths and weaknesses. They play on their strengths & try to minimize their weakness.
Do not get lazy & forget to write in your excel bitcoin trading spreadsheet journal. Documenting your thought process is the fastest & surest way to get better at bitcoin trading. Do this consistently, & you'll study more about your habits than you can imagine.
Your bitcoin trading goal is to identify & break the bad habits as soon as possible. If you notice that you always hang on to a losing cryptocurrency trades too long, you should do everything in your power so that you prevent this from happening again.
Summary
Your excel bitcoin trading spread sheet journal is bitcoin. It contains a wealth of data that will play a vital role in your success as a bitcoin trader. We strongly urge you to use it for atleast one month. If it has not helped improve your bitcoin profits in thirty days, then feel free to stop. But be sure to try it before deciding not to. It might be just the bitcoin trading tool needed to push your bitcoin trading to the next level to becoming a successful trader.
