Silver Trading Journal Book
Silver trading journal will track all your trades in a silver journal. By following this simple, easy to follow silver trading journal writing tip, you can easily improve your silver trading results. Here is how you do it:
Step 1 - Write down WHY you're making a silver trade BEFORE opening a trade transaction on your xagusd journal.
Before opening a silver trade position, write in a silver 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 xagusd trade.
Be honest with this xagusd trading journal. If you are honest, it will prevent you from making the biggest mistakes in your silver trading. If you see that you're making the silver trade because of anything other than a sound silver trading strategy. DO NOT MAKE THE Silver TRADE TRANSACTION!
If you make a losing silver trade, do not open another silver trading transaction immediately so as to make profits to neutralize the losses you have made, this is known as revenge silver trading, do not revenge against the xagusd trading market. Switch off the computer , walk away, & take a very cold shower to cool down. And remember that you'll never lose money that you don't put in. A winning silver strategy is not only about how much you win, but how much you do not lose.
Step 2 - Write down how you'll exit the silver trade BEFORE making the silver trading transaction.
Do not get trapped with a great entry silver strategy without an exit strategy. Your silver trading strategy should have both great entry & exit strategies. One is useless without the other.
But you ask, Why bother? I know my silver trading exit strategy. Why do I have to write it down?
Well, the reason is this: humans are at best irrational, impulsive, & emotional creatures. If you have your silver trading exit strategy written down, you have a frame of reference when you exit a silver trade position. You will refer to your silver trading journal BEFORE exiting a silver trade. If you are closing a position for any reason other than your original silver trading exit strategy, you must ask yourself why?
Your silver 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 xagusd trading.
Step 3 - Write down why you exited the silver trade position.
This should be same reason that you wrote in step 2. If it isn't, it is up to you to interpret it. Most common reason why traders deviate from their trading strategy is lack of discipline. Your silver trading journal will be looking back at you with glaring evidence of exactly why you are not a winning Silver trader.
Step 4 - How Do I Interpret the silver trading results
You must learn from your mistakes in silver trading. This is best way for anyone to improve their profits. Everybody makes mistakes, but great silver traders are able to learn from them & not repeat.
And the best way to learn from your mistakes is to document them in a xagusd 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 silver trading online.
This information cannot be found in any book or seminar. Your silver trading journal is personal and is uniquely you. Your personality will determine type of trader you will become, & will also determine type of mistakes you'll make.
Not only does your silver trading journal highlight your weaknesses, it will reveal the silver trading transactions that are the most profitable. After a little while you will see the type of silver trade setups that make you the most money, and a silver trading pattern will emerge. Don't let this data on your journal go to waste.
You should do every effort to understand why those silver trade transactions went well & try to replicate it as often as possible. Profitable silver 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 silver trading journal. Documenting your thought process is fastest and surest way to get better at silver trading. Do this consistently, & you will study more about your habits than you can imagine.
Your silver trading goal is to identify & break the bad habits as soon as possible. If you notice that you always hang onto a losing silver trade transactions too long, you should do everything in your power so that you prevent this from happening again.
Summary
Your silver trading journal is silver. It contains a wealth of data that will play a vital role in your success as a silver trader.
We urge you to use it for at-least one month. If it has not helped improve your silver profits in thirty days, then feel free to stop.
But be sure to try it before deciding not to. It may be just the silver trading tool needed to push your silver trading to the next level to becoming a successful trader.
