Cryptocurrency follows the psychology of a market cycle. We see this same pattern over and over and over again. It is a very useful tool when you are trading Bitcoin or Altcoins. It doesn't matter which coin you do, most trends follow the cycles according to the market cycles and you need to find out when to get in, and when to get out. This means all cycles will come up, and go back down. Make a trading plan. This is the way to think when you are investing and plan your exit strategy. As the markets change and your personal style changes so will your plan continue to evolve.
How to create a Crypto Currency Trading Journal?
Do you want to start trading Cryptocurrencies and need a way to keep track of your profits? Make sure you do that with a journal. In the same way, you can keep track of your finance in accounting, you can easily use this basic trading journal to keep track of your trades. Obviously, the success of your trades will depend on how well you are doing, but also how well you are keeping track of your results. You do not need to make an elaborate or complicated spreadsheet. However, it does help to include comments that confirm your strategy. It's very easy to modify and intuitive to use. Improve your skills, learn the basics, spend sufficient time and make the right calculations, and you are good to go.
There is only one person that can do it, and that is you. Write down and plan out every part of your trading journey, and think about the end. You will see that by keeping a track record of your successes and lessons learned, you become better as a trader and learn new strategies you will continue to update it.
Besides the Journal, this Excel spreadsheet template also includes the following:
- Crypto Lessons learned
- Crypto Strategy Trading Plan
- Wall Street Cheat sheet explains the psychology of a market cycle
- More advanced Crypto trading plan version can be found here
The more clear-cut and simple your trading journal is, the more you will benefit from it. Download this Crypto Trading Journal Excel spreadsheet here for your reference.
The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained this site constitutes a solicitation, recommendation, endorsement, or offer by Bizzlibrary or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
Stephani Graves - NZL
Please continue the good work, we all benefit from your templates.
Useful for my crypto activities
Maxine Larsen - NZL
Rafael Esparza - NZL
***** happy and grateful.
Amazing information source, and good to structure my crypto trades
Useful for every beginner in Crypto!
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