Example of How to Write a Gold Journal
xauusd trading journal will track all your gold trades in a xauusd trading journal. By following this simple, easy to follow xauusd 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 transaction on your xauusd journal.
Before opening a xauusd trade position, write in a xauusd journal the reasons why you are making the xauusd trade transaction. It doesn't have be long; it doesn't even have to be in compete sentences. Just write in the xauusd journal a few key reasons why you are making this xauusd trade.
Be honest with this xauusd 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 transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge xauusd, do not revenge against the gold market. Shut off the computer, walk away, and take a cold shower. Remember that you will never lose money that you don't put in. A winning xauusd trading strategy is not only about how much you win, but how much you don't lose.
Step 2 - Write down how you will exit the xauusd trade BEFORE making the xauusd trade transaction.
Do not get trapped with a great entry xauusd strategy without an exit trading 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 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 exit strategy written down, you have a frame of reference when you exit a xauusd trade position. You will refer to your xauusd journal BEFORE exiting a xauusd trade transaction. If you are closing a position for any reason other than your original xauusd exit strategy, you must ask yourself why?
Your xauusd 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 xauusd.
Step 3 - Write down why you exited the xauusd trade position.
This should be the same reason that you wrote down in step 2. If it is not, it is up to you to analyze it. The most common reason why people deviate from their xauusd strategy is lack of discipline. Your xauusd journal will be looking back at you with glaring evidence of exactly why you are not a winning XAUUSD trader.
Step 4 - Analyze the xauusd results
You must learn from your mistakes in xauusd. This is the best way for anyone to improve their profits. Everybody makes mistakes, but the great xauusd traders are able to learn from them and not repeat.
And the best way to learn from your mistakes is to document them in a xauusd 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 trading xauusd online.
This information cannot be found in any book or seminar. Your xauusd journal is personal and is uniquely you. Your personality will determine the type of xauusd trader you will become, and will also determine the type of mistakes you will make.
Not only does your xauusd journal highlight your weaknesses, it will reveal the xauusd transactions that are the most profitable. After a little while you will see the type of xauusd trade setups that make you the most money, and a xauusd pattern will emerge. Do not let this information on your XAUUSD Trading journal go to waste.
You should do every effort to understand why those xauusd trade transactions went well and try to replicate it as often as possible. Profitable xauusd traders know their strengths and weaknesses. They play on their strengths and try to minimize their weakness.
Do not get lazy and forget to write in your xauusd journal . Documenting your thought process is the fastest and surest way to get better at xauusd trading. Do this consistently, and you will learn more about your habits than you can imagine.
Your xauusd goal is to identify and break the bad habits as soon as possible. If you notice that you always hang on to a losing xauusd trade transactions too long, you should do everything in your power to prevent this from happening again.
Your xauusd 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 at least one 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 may be just the xauusd tool needed to push your xauusd to the next level to becoming a successful xauusd trader.