Example of How to Write a Commodity Trading Journal
Commodity trading journal will track all your trades in a commodity trading journal. By following this simple, easy to follow commodity trading journal writing tip, you can easily improve your commodity trading results. Here is how you do it:
Step 1 - Write down WHY you're making a commodity trade BEFORE opening a trade transaction on your commodities journal.
Before opening a commodity trade position, write in a commodity journal the reasons why you are making the trade transaction. It doesn't have be long; it doesn't even have to be in compete sentences. Just write in the trading journal a few key reasons why you are making this commodity trade.
Be honest with this commodities trading journal. If you are honest, it will prevent you from making the biggest mistakes in your commodity trading. If you see that you are making the commodity trade because of anything other than a sound commodity trading strategy. DO NOT MAKE THE Commodity TRADE TRANSACTION!
If you make a losing commodity trade, do not open another commodity trading transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge commodity trading, do not revenge against the commodities trading market. Switch off the Desktop computer PC, walk away, and take a very cold shower to cool down. And remember that you'll never lose money that you do not put in. A winning commodity strategy isn't only about how much you win, but how much you do not lose.
Step 2 - Write down how you will exit the commodity trade BEFORE making the commodity trade transaction.
Do not get trapped with a great entry commodity trading strategy without an exit strategy. Your commodity trading strategy should have both great entry & exit strategies. One is useless without the other.
But you ask, Why bother? I know my commodity trading exit strategy. Why do I have to write it down?
Well, the reason is this: humans are at best irrational, impulsive, and emotional creatures. If you have your commodity trading exit strategy written down, you have a frame of reference when you exit a commodity trade position. You will refer to your commodity trading journal BEFORE exiting a commodity trade. If you're closing a position for any reason other than your original commodity trading exit strategy, you must ask yourself why?
Your commodity trading journal will save you more money than you can imagine. It will prevent you from making impulsive moves, which is usually why people lose money in commodities trading.
Step 3 - Write down why you exited the commodity trade position.
This should be same reason that you wrote in step 2. If it is not, it is up to you to interpret it. The most common reason why traders deviate from their trading strategy is lack of discipline. Your commodity trading journal will be looking back at you with glaring evidence of exactly why you are not a winning Commodity trader.
Step 4 - How Do You Analyze the commodity trading results
You must learn from your mistakes in commodity trading. This is best way for any trader to improve their trading profits. Everybody makes mistakes, but great commodity traders are able to learn from them & not repeat.
And the best way to learn from your mistakes is to document them in a commodities trading journal. A few years down the road, you can still look back and realize that you are still making the same errors you were when you first began commodity trading online.
This information cannot be found in any book or seminar. Your commodity trading journal is personal and is uniquely you. Your personality will determine the type of commodity trader you'll become, and will also determine the type of mistakes you will make.
Not only does your commodity trading journal highlight your weaknesses, it will reveal the commodity trading transactions that are the most profitable. After a little while you will see the type of commodity trade setups that make you the most money, and a commodity trading pattern will emerge. Don't let this data on your Commodities Trading journal go to waste.
You should do every effort to understand why those commodity trade transactions went well and try to replicate it as often as possible. Profitable commodity traders know their strengths & weaknesses. They play on their strengths and try to minimize their weakness.
Do not get lazy and forget to write in your commodity trading journal. Documenting your thought process is fastest & surest way to get better at commodity trading. Do this consistently, and you will learn more about your habits than you can imagine.
Your commodity trading goal is to identify & break the bad habits as soon as possible. If you notice that you always hang on to a losing commodities trade transactions too long, you should do everything that's in your power to prevent this from happening again.
Summary
Your commodity trading journal is commodity. It contains a wealth of information that will play a vital role in your success as a commodity trader.
We urge you to use it for at-least one month. If it has not helped improve your commodity profits in thirty days, then feel free to stop.
But be sure to try it before deciding not to. It might be just the commodity trading tool needed to push your commodity trading to the next level to becoming a successful trader.
