Example of How to Write a Metals Trading Journal

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

Step 1 - Write down WHY you are making a metals trade BEFORE opening a trade transaction on your metal journal.

Before opening a metals trade position, write in a metals journal the reasons why you are making the trade transaction. It doesn't have be long; it doesn't even have to be in compete sentences. Just write in the trading journal a few key reasons why you are making this metals trade transaction.

Be honest with this metal trading journal. If you are honest, it will prevent you from making the biggest mistakes in your metals trading. If you see that you are making the metals trade because of anything other than a sound metals trading strategy. DO NOT MAKE THE Metals TRADE TRANSACTION!

If you make a losing metals trade, do not open another metals trading transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge metals trading, do not revenge against the metal trading market. Shut down the computer, walk away from your PC Desktop computer Desktop PC, & take a cold shower to cool down & chill. Remember that you will never any lose money that you don't put in. A winning metals 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 metals trade BEFORE making the metals trade transaction.

Do not get trapped with a great entry metals strategy without an exit strategy. Your metals trading strategy should have both great entry and exit strategies. One is useless without the other.

But you ask, Why bother? I know my metals 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 metals trading exit strategy written down, you have a frame of reference when you exit a metals trade position. You will refer to your metals trading journal BEFORE exiting a metals trade. If you're closing a position for any reason other than your original metals trading exit strategy, you must ask yourself why?

Your metals 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 metal trading.

Step 3 - Write down why you exited the metals trade position.

This should be the same reason which you wrote down in step 2. If it isn't, it is up to you to analyze it. The most common reason why traders deviate from their trading strategy is lack of discipline. Your metals trading journal will be looking back at you with glaring evidence of exactly why you are not a winning Metals trader.

Step 4 - How to Analyze the metals trading results

You must learn from your mistakes in metals trading. This is best way for anyone to improve their profits. Everybody makes mistakes, but great metals traders are able to learn from them & not repeat.

And best way to learn from your mistakes is to document them in a metal 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 metals trading online.

This information cannot be found in any book or seminar. Your metals trading journal is personal and is uniquely you. Your personality will determine the type of metals trader you will become, and will also determine the type of mistakes you will make.

Not only does your metals trading journal highlight your weaknesses, it will reveal the metals trading transactions that are most profitable. After a little while you will see the type of metals trade setups that make you the most money, & a metals trading pattern will emerge. Do not let this information on your Metal journal go to waste.

You should do every effort to understand why those metals trade transactions went well and try to replicate it as often as possible. Profitable metals traders know their strengths & weaknesses. They play on their strengths & try to minimize their weakness.

Do not get lazy and forget to write in your metals trading journal. Documenting your thought process is fastest and surest way to get better at metals trading. Do this consistently, and you'll study more about your habits than you can imagine.

Your metals trading goal is to spot & break the bad habits as soon as possible. If you notice that you always hang onto a losing metals trades too long, you should do everything in your power so that to prevent this from happening again.

Summary

Your metals trading journal is metals. It contains a wealth of information that will play a vital role in your success as a metals trader.

We urge you to use it for atleast one month. If it has not helped improve your metals profits in thirty days, then feel free to stop.

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