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