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