Example of How to Write a CFDs Journal

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

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

Before opening a cfd trade position, write in a cfd 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 cfd journal a few key reasons why you are making this trade transaction.

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

If you make a losing trade, don't open another cfd transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge cfd, don't revenge against the market. Shut down the computer, walk away from your PC computer Desktop PC Desktop PC, and take a cold shower to cool down and chill. Remember that you'll never any lose money which you do not put in. A winning cfd strategy is not only about how much you win, but how much you don't lose.

Step two - Write down how you'll exit the cfd trade BEFORE making the cfd trade transaction.

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

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

Your cfd journal will save you more money than you can imagine. It will stop you from making impulsive moves, which is usually why people lose money in cfd.

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

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

Step 4 - How Do You Analyze the cfd results

You must learn from your mistakes in cfd. This is the best way for any trader to improve their profits. Everybody 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 cfd 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 trading cfd online.

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

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

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

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

Your cfd goal is to identify & break the bad habits as soon as possible. If you notice that you always hang on to a losing cfd trading trade transactions too long, you should do everything that's in your power so-that-toso-as-to stop this from happening again.

Summary

Your cfd journal is cfd. It contains a wealth of data that will play a vital role in your success as a cfd trader.

We urge you to use it for at-least one month. If it hasn't helped improve your cfd profits in thirty days, then feel free to stop.

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