Example of How to Write a Crude Oil Journal

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

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

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

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

If you make a losing oil trade, do not open another oil transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge crude oil, do not revenge against the crude oil market. Switch off the PC computer, walk away, & take a very cold shower to cool down. And remember that you will never lose money that you do not put in. A winning oil 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 oil trade BEFORE making the oil trading transaction.

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

But you ask, Why bother? I know my crude oil trading exit strategy. Why do I have to write this down?

Well, the reason is this: humans are at best irrational, impulsive, & emotional creatures. If you have your oil exit strategy written down, you have a frame of reference when you exit a oil trade position. You will refer to your oil journal BEFORE exiting a oil trade transaction. If you are closing a position for any reason other than your original oil exit strategy, you must ask yourself why?

Your oil 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 crude oil.

Step 3 - Write down why you exited the oil 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 oil strategy is lack of discipline. Your oil journal will be looking back at you with glaring evidence of exactly why you are not a winning Oil trader.

Step 4 - How Do You Interpret the oil results

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

And the best way to learn from your mistakes is to document them in a oil journal. A few years down the road, you can still look back & realize that you are still making the same errors you were when you first began trading oil online.

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

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

You should do every effort to understand why those oil trade transactions went well & try to replicate it as often as possible. Profitable oil 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 oil journal. Documenting your thought process is fastest & surest way to get better at oil trading. Do this consistently, & you'll learn more about your habits than you can imagine.

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

Summary

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

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

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