Cryptocurrency Journal – Post your question in our Google Group. Add a link to the page where you got the spreadsheet so others can find it later.

There are trading services that allow you to register trades, but they can be expensive and not always available for all trading platforms.

Cryptocurrency Journal

This is a list of Excel templates and spreadsheets that are perfect as a trading journal for crypto trading. If you are trading in technical analysis or if you like scalping then forex you can usually use patterns from stock trading.

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This is your super simple business journal spreadsheet. It only has absolutely necessary fields, but at least it doesn’t take forever to enter your transactions.

EarnForex Excel Template in its basic form already contains everything you need in crypto. Changes to its 2020 version are minimal – just switch Forex markets to crypto markets and you’re good to go.

Link below (work in progress) – EarnForex’s forex trading log converted to Google Spreadsheet and modified for crypto markets.

In this edition of Trading Journal, 10 different crypto markets are created for you. You can rewrite them in other pairs depending on which markets you trade. But be sure to change the column with the Google Finance integration, which will give you the conversion rate in dollars.

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Thanks to this data, your PnL is calculated in the base currency and the USD rate of that base currency.

From the Trading Journal, the payout ratio probably says the most about your business. This trade log calculates both the expected return (from your target price) and the profit rate achieved for each trade. The cryptocurrency industry has attracted millions of new traders over the past few years. However, crypto trading can be quite daunting for newbies as there are many differences compared to traditional trading. The strategies may be different, the crypto market is more volatile and the terminology is also different. All of this takes time to master, and if you don’t, you’re likely to make mistakes. Unfortunately, these mistakes can be quite costly. As such, it is in every trader’s interest to make as few mistakes as possible.

A good way to do this is to keep a crypto trading journal. This guide explains what a crypto trading journal is, how to use it, and how to get started.

Crypto Trading Journal is pretty self-explanatory. It is a record containing the details of all crypto transactions, whether long or short. It should include trading opening times and dates, your investment strategies and any additional information about the trade. You should also remember why you made a particular trade by writing down your motivation.

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If you organize your crypto trading journal, it will give you some deep insight. If you are experiencing a loss, it can tell you where you went wrong. It can also tell you where you missed an opportunity and why. If you record your business plan, risk management details and so on, you will have a lot of data to analyze. This analysis shows what you did and what you didn’t do. Ultimately, this will help you become a better trader.

Many traders rely on memory, which is a gamble, especially if you are new to trading. Memory is unreliable and you may forget what you did or why you did it. If you are involved in day trading, there is a lot of data to keep in mind. Day traders make several trades per day, each with its own details. Writing them all down makes it easier to summarize your business performance.

So far, we have established that Trade Journal can help you track your transactions more efficiently. However, let’s take a look at some of the reasons why you should use a trading journal.

Keeping a crypto trading log records your transactions and calculations. Crypto trading is highly dependent on market behavior so it is unique to every business. Sometimes you may take a step that is not part of your business plan. However, changes in the market may be necessary to avoid losses. Once you have your business details, use them to create a solid framework for your business strategy.

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Emotions are one of the crypto trader’s biggest enemies. Things like greed can cause traders to hold on to their trades longer than necessary. Meanwhile, fear can cause traders to close trades prematurely, leading to the loss of potential profits. Fortunately, journaling can help you work on your mental state. It helps you organize your thoughts, understand emotional triggers and stay in control. This way, your open trades are influenced by trading signals, not by fear or greed.

If you write down your thoughts before you trade, you can reflect on them later. You can see who made your move and decide if it was a good move. It helps you learn more about yourself, including your motivation. You can use this information to correct your behavior and modify your business activity. It contributes to know more about risk management.

Another great benefit of Crypto Business Journal is that it helps you create a growth plan. You can increase your profit rate by recording entry prices, exit points, investment strategies and so on. You look at what worked well and what failed in the past and focus on the positive results. That way, you can learn what deals work and repeat them as you go along.

Setting up a crypto trading journal is very easy. You can use a physical notebook or document on your computer. You can also create a spreadsheet and populate it with data along with your transactions. The format of the paper does not matter. What matters is what you write in it.

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Since this is information you are recording for personal use, you can add more details. For example, what goals do you want to achieve from cryptocurrency trading? It’s a good idea to write down your strengths and weaknesses as a reminder. Your business philosophy, your ideas about the business, or aspects that need more work. Remember – you should use your trading journal to analyze yourself and your trading performance.

So far we have seen that a crypto business journal serves several different purposes. Now let’s briefly state its pros and cons.

Crypto trading journal templates are ready-made journals that make it easy to record your data. As mentioned in the Cons section, you have to pay to use them. However, if you don’t want to build your own, starting from scratch is a better option. Here are some great options at your disposal right now.

Coin Market Manager, or CMM, is a portfolio manager that functions as a crypto trading journal. It has many practical and attractive features. Its system prompts you to manually upload your transactions while creating a journal. You can link your account to your exchange through the CMM API Manager. In this way, the journal automatically records and categorizes your business data.

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Another option is TradersVue, which has several analytical tools and other features. Everything it offers can be very useful in business. The journal also includes a sharing option that allows you to share your business entries with others. Other additional features include: risk analysis, trade notes, automatic import function, automatic price charts and more. The best part is that this magazine has a free plan, although it doesn’t have all the features.

Another platform designed to record and track your trades is TraderSync. It allows you to enter your cryptocurrency trade details manually or by importing a .CSV file. It is very easy to use and has many additional features. One example is a performance evaluator and the other includes detailed reports on your performance. You can write notes and analyze your movements. It does not have a free plan; Instead, there are three premium plans – Pro, Premium and Elite.

Crypto trading magazines are useful because they help you learn more about yourself and the market. More importantly, they show you how to behave when engaging the market. If you write everything right it can reveal your strengths and weaknesses. With such knowledge, you can significantly improve your performance and profits.

Of course, a crypto trading journal doesn’t automatically make you a better trader. You still need to learn from your mistakes and work on changing your trading behavior. However, crypto trading magazines give you a place to start.

Cryptocurrency Trading Journal

A crypto trading record is a record of the trades you have made. By recording it, you can gain insight into your decision making and its effectiveness.

Starting and maintaining a trade journal is easy as you only need to record the details of your transactions. After that you should

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