Examples of How to Write Down a Excel Spread-sheet Trading Journal
Excel XAUUSD Spread sheet Trading Journal will track all your trades in a Excel XAUUSD Spread sheet Trading Journal. By following this simple & easy to follow excel gold spreadsheet journal writing tip, you can easily improve your trading results. Here is how you do it:
Step 1 - Write down WHY you're making a trade PRIOR TO opening a trade on your excel xauusd spreadsheet journal.
Before opening a trade, write in a excel xauusd spreadsheet journal the reasons why you are making the trade. Just write-down in the excel xauusd trading spreadsheet journal a few key reasons why you are making this trade. Be honest with this excel trade spread sheet journal. If you are honest, it will stop you from making biggest mistakes in your trading xauusd. If you see that you are making the trade because of anything other than a sound xauusd trading strategy. DO NOT MAKE THE Gold TRADE TRANSACTION!
If you make a losing trade, do not open another trade immediately so as to make profits to neutralize the losses you've made, this is known as revenge gold, do not revenge against the market. Turn off the Desktop computer, take a walk, take a cold shower. Remember that you'll never lose money which you do not put in. A winning XAUUSD strategy isn't only about how much you win, but how much you do not lose.
Step two - Write down how you'll exit the trade PRIOR TO making the trade.
Do not get trapped with a great entry xauusd strategy without an exit strategy. Your strategy should have both great entry & exit strategies. One is useless without the other.
But you ask, Why bother? I know my trade exit strategy. Why do I have to write it down?
Well, the reason is this: humans are at best irrational, impulsive, & emotional creatures. If you have your trade exit strategy written, you have a point of reference when you get out of a trade. You will refer to your excel xauusd spreadsheet journal BEFORE exiting a trade. If you are closing a trade for any reason other than your original trade exit strategy, you must ask yourself why?
Your excel xauusd trading spread sheet journal will save you more money than you can imagine. It will stop you from making impulsive moves, which is usually why traders lose equity in trading xauusd.
Step 3 - Write down why you exited the 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 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 trader.
Step 4 - How to Analyze the trading results
You must learn from your mistakes in trading xauusd. This is best waymethod for any trader to improve their profits. Everybody makes mistakes, but the great traders are able to learn from them and not repeat.
And the best way to learn from your mistakes is to write down & document them in a excel gold spreadsheet 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.
This info can't be found in any book or seminar. Your excel xauusd spreadsheet journal is personal & is uniquely you. Your personality will ascertain type of trader you will become, & also will determine type of mistakes you will make.
Not only does your excel xauusd spreadsheet journal highlight your weaknesses, it will reveal the trades that are most profitable. After a little while you will see the type of trading setups that make you as a trader most equity, and a pattern setup will emerge. Do not let this data on your excel xauusd spreadsheet journal go to waste.
You should do all effort to understand why those trades went well & try to replicate it as often as possible. Profitable 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 excel gold spreadsheet journal. Documenting your thought process is the fastest and surest way to get better at gold trading. Do this consistently, & you'll learn more about your habits than you can imagine.
Your trading goal is to identify and break the bad habits as soon as possible. If you as a trader realize that you always hang on to a losing trades too long, you should do everything in your power so as to prevent this from happening again.
Summary
Your excel gold spreadsheet journal is xauusd. It contains a wealth of info which will play a vital role in your success as a trader. We strongly urge you to utilize it for atleast 1 month. If it hasn't helped improve your profits in thirty days, then feel free to stop. But be sure to try it prior to deciding not to. It might be just the tool needed to push your trade to the next level toward becoming a successful trader.
