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Achieving Any Success In Life Involves Tracking (Including Trading)

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(Image credit: Stephen Dawson)
- Runners track their speed to see improvements 

- Businesses track their leads to calculate their conversion rates

- Websites track their click-through rates tounderstand customer psychology better

In most professions, people will look at you oddly for not tracking or journaling your progress. This is because they understand - what gets tracked, gets accomplished.
But when it comes to trading, the industry that involves more numbers than anything…
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Without statistical confirmations in trading, you can easily find yourself in one of these scenarios:
1 - You're on track to reach your goals but feel as if you're not so you divert from your plan.
2 - You aren't on track and don't know so you keep repeating errors.
A data scientist could never find themself in the situations above, simply because they use their own data to assess what's happening.
As a trader, you either assume what's going on or know what's happening.
In crypto, it makes sense as to why most traders assume things - exchanges, TA analysts, and other traders aren't instructing them to track their results.
So, it seems like it's not required. But that's until you realize the quality information every trade carries:
- Your trade setup
- Decisions (level of commitment)
- Account risk
- Risk/reward ratio
- The day and hour
- Time in a trade
- Confidence in entering
- Reason for winning or losing
As your trades increase, the recorded data above will compound and end up providing unique valuable feedback.
For Example: After 100 trades, you might notice that you win most trades on Thursday, and are constantly unprofitable on Monday.
Knowing this, you can either choose not to trade on Monday or look deeper into it.
Your data-based feedback can even let you know beforehand if your account is heading to the moon or blown to 0. 
How To Track And Journal Your Trades In Crypto Trading
There are 2 ways:
1 - You can create a spreadsheet and manually input your trades (Duration: Hours)
2 - You can automate it with free software (Duration: Instant)
The manual way is perfect for investors but not ideal for active traders as it's too time-consuming and worst of all, can easily interrupt your trading activity.
Using free software like CMM, you're provided with a simple interface that lets you connect your account to the exchanges you trade with.
All you do next is press the import button, and seconds later...
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Your trading data is completely tracked and the overview stats are shown right away. 
This lets you know how your trading day has been, and here's why something as simple as this is important:
You can have a bad trading day but your stats tell otherwise.
You can have a good trading day but your stats tell otherwise.
You can have a mixed trading day but your stats tell otherwise.
Stats eliminate all assumptions that are based on feeling.
So now, think about the times you were going through the worst trading days. 
You likely had moments of missing opportunities, buying at the top, and fighting losing trades. We all do.
But if you kept your account risk low and cut losses early, your performance would appear as a small dip in the overall picture.
Knowing this would instantly change the way you feel about bad results.
That's the power of tracking your trading activity.
Accountability Is a Byproduct of Tracking
One of the biggest reasons why traders don't journal their trades is because it requires a level of responsibility.
It can be difficult for a trader to accept the fact they've been trading volatile, or haven't been following their trading plan.
Especially when it's day after day.
Solving this issue in most professions can be done with the help of a mentor or coach. However, in crypto, you would need something more automatic that gives you accountability feedback on the fly.
Advanced AI Analytics is the solution:
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This is another feature in CMM which reports what you're doing right and wrong. 
So, whenever there's a time you need an unbiased report on your trading, this grading feature will provide information that enforces accountability.
The quicker you become accountable, the faster your trading gets consistent.
Remember, trading is a game of speculation - the goal is to limit random results and become consistently profitable.
Tracking your data helps you do just that.
Get lifetime FREE access with CMM UNLOCKED
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