Example of How to Write a Stock Index Journal
stock index trading journal will track all your stock index trades in a stock index trading journal. By following this simple, easy to follow stock indices journal writing tip, you can easily improve your stock indices results. Here is how you do it:
Step 1 - Write down WHY you are making a stock indices trade BEFORE opening a stock indices trade transaction on your stock indices journal.
Before opening a stock indices trade position, write in a stock indices journal the reasons why you are making the stock indices trade transaction. It doesn't have be long; it doesn't even have to be in compete sentences. Just write in the stock indices journal a few key reasons why you are making this stock indices trade.
Be honest with this stock indices journal. If you are honest, it will prevent you from making the biggest mistakes in your stock indices. If you see that you are making the stock indices trade because of anything other than a sound stock index trading strategy. DO NOT MAKE THE Indices TRADE TRANSACTION!
If you make a losing stock indices trade, do not open another stock indices transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge stock indices, do not revenge against the stock index 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 stock index 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 stock indices trade BEFORE making the stock indices trade transaction.
Do not get trapped with a great entry stock indices strategy without an exit trading strategy. Your stock indices strategy should have both great entry and exit strategies. One is useless without the other.
But you ask, Why bother? I know my stock indices 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 stock indices exit strategy written down, you have a frame of reference when you exit a stock indices trade position. You will refer to your stock indices journal BEFORE exiting a stock indices trade transaction. If you are closing a position for any reason other than your original stock indices exit strategy, you must ask yourself why?
Your stock indices 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 stock indices.
Step 3 - Write down why you exited the stock indices 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 stock indices strategy is lack of discipline. Your stock indices journal will be looking back at you with glaring evidence of exactly why you are not a winning Stock Indices trader.
Step 4 - Analyze the stock indices results
You must learn from your mistakes in stock indices. This is the best way for anyone to improve their profits. Everybody makes mistakes, but the great stock indices 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 stock indices 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 stock indices online.
This information cannot be found in any book or seminar. Your stock indices journal is personal and is uniquely you. Your personality will determine the type of stock indices trader you will become, and will also determine the type of mistakes you will make.
Not only does your stock indices journal highlight your weaknesses, it will reveal the stock indices transactions that are the most profitable. After a little while you will see the type of stock indices trade setups that make you the most money, and a stock indices pattern will emerge. Do not let this information on your Stock Indices Trading journal go to waste.
You should do every effort to understand why those stock indices trade transactions went well and try to replicate it as often as possible. Profitable stock indices 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 stock indices journal . Documenting your thought process is the fastest and surest way to get better at stock index trading. Do this consistently, and you will learn more about your habits than you can imagine.
Your stock indices goal is to identify and break the bad habits as soon as possible. If you notice that you always hang on to a losing stock indices trade transactions too long, you should do everything in your power to prevent this from happening again.
Your stock indices journal is stock indices. It contains a wealth of information that will play a vital role in your success as a stock indices trader.
We strongly urge you to use it for at least one month. If it has not helped improve your stock indices profits in thirty days, then feel free to stop.
But be sure to try it before deciding not to. It may be just the stock indices tool needed to push your stock indices to the next level to becoming a successful stock indices trader.