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Excel Spreadsheet For Tracking

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Published at Friday, April 30th 2021, 00:29:51 AM. Tracking Spreadsheet. By Laurel Sparks.

With that in mind, lets look at some of the differences between these two different types of tools. For the purposes of this article, I selected six criteria by which to make the comparison. These were selected from the feedback of customers and prospects as well as learning what is important for the successful adoption and implementation of project tools within an organization. Data Mining Data mining is a huge part of project management tools. The whole reason for having a tool is to collect data, so that you can look intelligently at that data, make sure your processes are performing as advertised, and make good decisions. You need to know which projects and tasks are slipping through the cracks so that you again react. You need to know when you will not have enough resources to meet demand so that you can allocate them properly or manage the demand. You need to know which issues are lurking so that you can address them now before you lose the favor of a critical customer. And you need to see how your processes are working so that you can continuously improve your processes.

After being rejected and coddled by the market one too many times, I came to the realization that I was literally spinning my wheels with no chance to succeed unless I could figure out exactly what was adding to my bottom line and conversely, what was keeping me from being just another "break-even" trader. I had already created a simple trading spreadsheet that told me the basics, but I had no way of tracking the overall performance of my trading activities. I finally resolved never to take another trade unless the primary reasons for taking it could be analyzed over a sample number of trades. The result? I created a multiple categorical performance tracking sheet that would soon have me climbing the ladder of success. Lots of work and planning went into this project, but afterward I had concrete evidence that told me when I should step on the gas, or when to put on the brakes. What I created told me key statistics in six different categories, which led to a confidence boost that cannot be described.

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As a full-time day trader now for nearly six years, I know what a roller-coaster life can be when first entering the market arena. I also know how much easier your trading life can be with the proper tools, tactics and mindset. While all three are extremely important to your overall success as a trader, this article delves into the often neglected record-keeping aspect of your trading business. Why? Again, because it is very often neglected, especially by newer traders who are unaware of the challenges that theyre up against in this business endeavor known as trading - an endeavor that is well known to have a 90% failure rate amongst retail traders. Personally, my early days were akin to navigating a jungle full of killer predators, without a local guide to keep me from harms way. An old trading partner of mine summed it up best when he said, "The Market will eat you up and spit you out and cuddle you back into her arms every day. And when you get fed up she will outsmart you, entice you and bring you back all over again." As a novice trader trying to take his pittance from the Wall Street jungle, I found that to be the truth!

As a full-time day trader now for nearly six years, I know what a roller-coaster life can be when first entering the market arena. I also know how much easier your trading life can be with the proper tools, tactics and mindset. While all three are extremely important to your overall success as a trader, this article delves into the often neglected record-keeping aspect of your trading business. Why? Again, because it is very often neglected, especially by newer traders who are unaware of the challenges that theyre up against in this business endeavor known as trading - an endeavor that is well known to have a 90% failure rate amongst retail traders. Personally, my early days were akin to navigating a jungle full of killer predators, without a local guide to keep me from harms way. An old trading partner of mine summed it up best when he said, "The Market will eat you up and spit you out and cuddle you back into her arms every day. And when you get fed up she will outsmart you, entice you and bring you back all over again." As a novice trader trying to take his pittance from the Wall Street jungle, I found that to be the truth!

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