<center>http://profitribes.com/wp-content/uploads/2018/06/hand1.jpg</center> <br/>The new sector of cryptocurrency is extremely enticing and it has been filled with ultimate gains, losses too. As we know, the bear market is currently ensuing and the ultimate shakeout is upon us. It is critical to protecting capital in bear markets. Yet, how do you keep track of your gains? Do you?

Here are a few strategies I like to use:

<strong>Excel is your friend</strong>

Learning Microsoft office is something they taught us in grade school and something they emphasize in the business college at UF. It's quite funny actually because every student puts it on their resume as some sort of skill. Yes, it takes awhile to get used to it, but any average 5th grader could make beautiful spreadsheets. All this means is you can too.

First excel spreadsheet is strictly for your trades.

So, the date, type of trade, leverage(if used), entry/exit, stop loss, PNL %, starting balance, ending balance.

Here is an example of one of my losing trades: I did not fill in certain boxes for my own reasons, but you can see it is effective. If you do this, it will improve your trades no doubt. It doesn't allow you to get away with mistakes and emotion. Trust me, when you document those losses it hurts.

<img class="alignnone wp-image-223 size-large" src="http://profitribes.com/wp-content/uploads/2018/06/line-1024x42.jpg" alt="" width="1024" height="42" /><br>

<strong>Outside income source budget</strong>

I have started to record all of my gains outside of crypto onto an excel sheet as well. It helps me keep track of where my money is and where it's going. Also, it pushes me to make money every day. Not filling out that sheet each day puts a bit of a strain on me. As an entrepreneur, it is crucial to do some sort of income generating activity each day. Often times its trading, writing articles for Omniloquent, working, selling my program etc., you get the point.

I have also found it vitally important to track your monthly income and expenses. Set some goals and go get them.

All in all, documenting your personal finances can really wake you up to how much money you are really making. Enjoy the summer, do not stop grinding.

<img src="https://steemitimages.com/DQmQgjv2awSp18k2oUSoaDXFi8ApCyCu2KYZ5XxC2dZ2Uw2/separador.png" alt="separador.png" /><br>

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