Examples of How to Write a Excel XAUUSD Spreadsheet Journal

Excel XAUUSD Spread Sheet Journal will track all your trades in a Excel XAUUSD Spread Sheet Journal. By following this simple & easy to follow excel xauusd spreadsheet trading journal writing tip, you can easily improve your xauusd results. Here is how you do it:

Step 1 - Write down WHY you are making a xauusd trade BEFORE opening a xauusd trade on your excel xauusd spreadsheet journal.

Before opening a xauusd trade, write in a excel xauusd spreadsheet journal the reasons why you are making the xauusd trade. Just write in the excel xauusd spreadsheet journal a few key reasons why you are making this xauusd trade. Be honest with this excel xauusd spreadsheet journal. If you are honest, it will prevent you from making the biggest mistakes in your xauusd. If you see that you are making the xauusd trade because of anything other than a sound xauusd trading strategy. DO NOT MAKE THE XAUUSD TRADE TRANSACTION!

If you make a losing xauusd trade, do not open another xauusd trade immediately so as to make profits to neutralize the losses you've made, this is known as revenge xauusd, do not revenge against the xauusd market. Turn off the computer, take a walk, take a cold shower. Remember that you will never lose money which you don't put in. A winning XAUUSD Trading 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 xauusd trade BEFORE making the gold trade.

Do not get trapped with a great entry xauusd strategy without an exit strategy. Your xauusd strategy should have both great entry and exit strategies. One is useless without the other.

But you ask, Why bother? I know my xauusd 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 xauusd trading exit strategy written down, you have a frame of reference when you exit a xauusd trade. You will refer to your excel xauusd spread-sheet journal BEFORE exiting a xauusd trade. If you are closing a trade for any reason other than your original xauusd trading exit strategy, you must ask yourself why?

Your excel gold trading spread sheet journal will save you more money than you can imagine. It will prevent you from making impulsive moves, which is usually why xauusd traders lose money in xauusd.

Step Three - Write down why you exited the gold trade.

This should be same reason which you wrote in step 2. If it isn't, it is up to you to interpret it. The most common reason why traders deviate from their xauusd strategy is lack of discipline. Your excel xauusd trading spreadsheet journal will be looking back at you with glaring evidence of exactly why you are not a winning XAUUSD trader.

Step 4 - How to Analyze the Gold results

You must learn from your mistakes in xauusd. This is best way for any trader to improve their profits. Everybody makes mistakes, but the great xauusd traders are able to learn from them & not repeat.

And the best way to learn from your mistakes is to write down and document them in a excel xauusd spread-sheet journal. A few years down the road, you can still look back and realize that you're still making the same errors you were when you first began trading xauusd.

This information can not be found in any book or seminar. Your excel xauusd spreadsheet journal is personal and is uniquely you. Your personality will ascertain type of xauusd trader you'll become, and will also determine type of mistakes you'll make.

Not only does your excel xauusd spreadsheet journal highlight your weaknesses, it'll reveal the gold trades that are most profitable. After a little while you will see the type of xauusd trade setups that make you the most money, & a xauusd pattern will emerge. Do not let this data on your excel xauusd spreadsheet journal go to waste.

You should do every effort to understand why those gold trades went well and try to replicate it as often as possible. Profitable xauusd traders know their strengths & weaknesses. They play on their strengths and try to minimize their weakness.

Do not get lazy & forget to write in your excel gold spreadsheet journal. Documenting your thought process is the fastest & surest way to get better at xauusd trading. Do this consistently, and you will study more about your habits than you can imagine.

Your xauusd goal is to identify & break the bad habits as soon as possible. If you notice that you always hang onto a losing gold trades too long, you should do everything in your power so as to prevent this from happening again.

Summary

Your excel xauusd spreadsheet journal is xauusd. It contains a wealth of information that will play a vital role in your success as a xauusd trader. We strongly urge you to use it for atleast 1 month. If it has not helped improve your xauusd profits in thirty days, then feel free to stop. But be sure to try it before deciding not to. It might be just the xauusd tool needed to push your xauusd to the next level to becoming a successful trader.