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How to create a crypto trading journal for success
The world of cryptocurrency is a knowledge of its volatility and unpredictable, which is a challenge even for the Ther-Tex. With the right strategies and tools, everyone can increase the crypto market. Efficient achievement is a box jurnal through credit of a box.
In this article we will examine how you can exchange the trade with cryptocurrence with which you can follow your refugee, and it.
Why create a crypto trading journal?
A crypto trade Jurnal is an essential instrument for every serious dealer. It enables them:
- Track -Trades, including data, time, price, profit/loss and notes
- Analyze your hate over time and identify trines and pastes
- Stay organized and focus on your goals
- Make sound decisions based on data -controlled knowledge
Set up IRPTO Trading Journal
For the box that has an effective crypto trade journal, you have to set up a system that you all follow. Here are the steps you have to follow:
- Select a platform : Select a reliable cryptocurrency exchange platform such as Binance, Coinbase or octopus. You can also online brokers such as Etoro or Robinhead online brokers.
- Select trade terms
: opt for the trade conditions you use for yours. For example, you can follow:
* Ordered (buy/sell)
* Entry/exit prices
* Time frame (e.g. 1 hour, 4 hours, daily)
* Profit/loss
- Set up your diary : Create a table or consume a dedicated trade in traditional trade such as Google from Google Sheets, Microsoft Expecel or Cryptotrader.
- Fill out the details : Record communication with very trade, including:
* Date and time of the entry/output
* Price of the assets
* Order type (buy/sell)
* Profit/loss (neet profit/loss)
Add additional knowledge
To get your Pypto trade job to the next stage, look at this thesis knowledge:
- Technical analysis : Integrate diagrams and technica indicators to help you identify patterns.
- Basic analysis
: Follow the economic indicators, news and the feeling of feeling to maintain a more compressive.
- Risk management : Set goals and risk yield for every trade to ensure that you manage your exposure.
Best practice for using your Crypto Trading Journal
To maximize the effectiveness of them, follow thees:
- Make it a habit : Use your diary regularly, Idelly daily or woe.
- Lens : Avoid environmental decisions and remain distant priors.
- remain organized : Hold all trading files in one place and make it easier to check and analyze the performance.
- Check regularly : Check your journal regularly to identify patterns, adapt strategies and make well -founded decisions.
Diploma*
Creating a Crypto Trading Journal is an essential step to achieve the martt. By tracking, analyzing and organizing your trades, you will be informed of your well -founded decisions in Welling and maximize your. Remember always a solid strategy, nobody can certainly predict the markets. But by using your crypto trade with the Joly, you will better equip the heights and depths of the brand.
recommended to read
- “Trade in the zone” by Mark Douglas:
- “The Crypto Trading Bible” by David F. Gaubatz:
- “Technical analysis of the financial markets” by John J. Murphy: A detailed analysis of the technology indicator.
Additional resources
- Cryptotrader: A Poppelhandel Jurnal for software for Windows and MacOS.
