Example of How to Write a Journal

Gold trading journal will track all your trades in a gold journal. By following this simple, easy to follow journal writing tip, you as a trader can easily improve your results. Here is how you do it:

Step 1 - Write down WHY you're making a trade BEFORE executing a trade transaction on your journal.

Before opening a trade position, write in a journal the grounds why you're making the trade. It does not have be long; it does not even have to be in compete sentences. Just write in the journal a few key explanations why you are making this transaction.

Be honest with this trading journal. If you are honest, it'll stop you from making the biggest mistakes in your trading. If you see that you are making the Gold trade because of anything other than a sound gold strategy. DO NOT MAKE THE Gold TRADE TRANSACTION!

If you as a trader make a losing position, don't open another gold transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge xauusd trading, do not revenge against the market. Turn off the PC Desktop computer, take a walk, take a cold shower. Remember that you'll never lose money which you do not put in. A winning trading 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 Gold trade PRIOR TO & BEFORE making the transaction.

Don't get trapped with a great entry trading strategy without having an exit strategy. Your strategy should have both great entry and exit strategies. One is useless and not useful without the other.

But you ask, Why bother? I know my xauusd exit strategy. Why do I need to write it?

Well, the explanation is this: humans are mostly irrational, impulsive, & emotional creatures. If you have your exit strategy written, you have got a frame of reference when you exit a trade position. You will refer to your trading journal BEFORE exiting and getting out of a trade position. If you're closing a position for any reason/explanation other than your initial gold exit strategy, you as a trader must ask yourself why?

Your xauusd journal will save you more funds than you as a trader can imagine. It will stop you from making impulsive decisions, which is usually why people lose money in xauusd.

Step Three - Write down why you exited the Gold trade position.

This should be same explanation which you wrote in step 2. If it is not, it's up to you to interpret & analyze it. The most common explanation why people deviate and stray from their strategy is lack of discipline. Your trading journal will be looking back at you with glaring evidence of exactly why you're not a winning trader.

Step 4 - How Do I Analyze the trading results

You must learn from your own mistakes in xauusd trading. This is the best way for any trader to improve their profits. Everyone makes mistakes, but great 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 trading journal. A few years down the road, you as a trader can still look back and realize that you are still making the same mistakes and errors that you were when you first began gold trading online.

This information can not be found in any book or seminar. Your trading journal is personal & is uniquely you. Your personality character will determine the type of trader you'll become, & also will determine the type of mistakes you will make.

Not only does your journal highlight your weaknesses, it'll reveal the transactions that are most profitable. After a little while you'll see the type of trade set-ups which make you the most money, and a setup will emerge. Do-not let this information on your trading journal go to waste.

You should do every 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 & forget to write down on your xauusd journal. Documenting your thought process is the fastest and surest way to get better at xauusd trading. Do this consistently, & you'll learn more about your own habits than you as a trader can imagine.

Your goal is to identify and break bad habits as soon as possible. If you notice that you always hang onto a losing gold transactions too long, you should do everything within your power so as to stop this from happening again.

Summary

Your xauusd journal is gold. It contains a wealth of information which will play a vital and crucial role in your success as a gold trader.

We urge that you use it for at-least one month. If it has not helped improve your profits in 30 days, then feel free to stop.

But be sure to try it out before deciding not to. It might be just the tool needed to push your trading to the next level toward becoming a successful trader.

Learn More Tutorials & Courses:

Trade Gold Trading

Example of How to Write a Journal

Step 4 - How Do I Analyze the trading results

Summary