Hi,

Assumed that cell A1 of a workbook (say "first") is linked to cell A1 of another workbook (say second) .  Assume that only the first workbook is open.  Now in cell A1 of the first workbook, Go to Tools>Formula Auditing>Trace Precedents and double click on the arrow.  This will open up and box and if you then click on the file name which appears in the GoTo box, you will get an error saying Reference is not valid.  This happens because the second workbook is closed.

To workaround this problem, try the Ctrl+[ shortcut instead.  This shortcut will open the second worbook and take you to the linked cell.

This is a very powerful trick which i use quite often.  Hope you find it useful.

Thanks Ashish buddy for the tut.