Excel Stock Indices Trading Spreadsheet Trade Journal Book
Excel Indices Spread sheet Trade Journal will track all your trade transactions in a Excel Indices Trading Spreadsheet Trade Journal. By following this simple & easy to follow excel indices spread-sheet journal writing tip, you can easily improve your trading indices results. Here is how you do it:
Step 1 - Write down WHY you're making a trade PRIOR TO opening a trade transaction on your excel indices spread sheet journal.
Before opening a trade, write in a excel indices spreadsheet journal the reasons why you're making the trade. Just write down in the excel indices spreadsheet journal a few key reasons why you're making this transaction. Be honest with this excel stock indices spread sheet journal. If you're honest, it will prevent you from making biggest mistakes in your trading indices. If you see that you are making the trade transaction because of anything other than a sound trading strategy. DO NOT MAKE THE Indices TRADE TRANSACTION!
If you make a losing transaction, don't open another trade transaction immediately so that to make profits to neutralize the losses you have made, this is referred-to as revenge indices trading, do not revenge against the 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 do not lose.
Step two - Write down how you'll exit the trade transaction PRIOR TO making the trade.
Do not get trapped with a great entry strategy without an exit strategy. Your trading indices strategy should have both great entry & exit trading indices strategies. One is use-less without the other.
But you ask, Why bother? I know my indices exit strategy. Why do I have to write it?
Well, the reason is this: humans are at best irrational, impulsive, & emotional creatures. If you have your indices exit strategy written down, you have a point of reference when you as a trader get out of a transaction. You'll refer to your excel indices spread sheet journal PRIOR TO exiting a 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 spread sheet journal will save you as a trader more equity than you can imagine. It will prevent you from making impulsive moves, which is usually why traders lose equity in trading stock indices.
Step 3 - Write down why you exited the trade.
This should be the same reason that you wrote down in step 2. If it's not, it's up to you to analyze it. The most common reason why traders deviate from their trading indices strategy is lack of discipline. Your excel stock indices spreadsheet journal will be looking back at you with glaring evidence of precisely why you are not a winning trader.
Step 4 - How to Interpret the Indices results
You must learn from your mistakes in trading indices. This is the best way for anyone to improve their profits. Everybody makes mistakes, but great traders are able to learn from them & not repeat.
And the best way to learn from your mistakes is to write down & document them in a excel indices spread sheet journal. A few years down the road, you can still look back & realize that you're still making the same errors you were when you first began stock indices.
This data can't be found in any book or seminar. Your excel stock indices spreadsheet journal is personal & is uniquely you. Your personality will determine type of trader you will become, and will also determine type of mistakes you'll make.
Not only does your excel indices spread sheet journal high-light your weaknesses, it will reveal the trade transactions which are most profitable. After a little while you'll see the type of trade setups that make you as a trader the most equity, and a trading pattern will emerge. Do not let this info on your excel indices spreadsheet journal go to waste.
You should do every effort to understand why those trades went well and try to replicate it as often as possible. Profitable traders know their strengths and weaknesses. They play on their strengths & try to minimize their weakness.
Don't get lazy & forget to write-down in your excel indices spread sheet journal. Documenting your thought process is fastest & surest way to get better at indices trading. Do this consistently, & you'll learn more about your habits than you can imagine.
Your trading indices goal is to identify and break the bad habits as soon as possible. If you realize that you always cling on to a losing trade transactions too long, you should do everything that's in your power to prevent this from happening again.
Summary
Your excel stock indices spread sheet journal is indices. It contains a wealth of information that will play a vital role in your success as a trader. We strongly urge you to use it for atleast 1 month. If it hasn't helped improve your trading indices profits in thirty days, then feel free to stop. But be sure to try it prior to deciding not to. It may be just the trading indices tool needed to push your trading indices to the next level towards becoming a successful trader.
