Forex trading diary
sleep AT night, because if you are having trouble sleeping due to your trading, it means youve risked too much. Not to mention, your frazzled and obnoxious existence from risking too much will probably make your wife or roommates want to kill you or send you to the loony bin. Dont trade if you dont have the money to lose, its really that simple. Tower Resources identify 18 million barrels of contingent reserves worth 118M in Cameroon. When you make money in the markets you need to pay yourself, dont re-invest all your profits in some vain attempt to grow your account to infinity. While hope is generally a good thing in every other area of life, in Forex trading it can cause you to do irrational things that destroy your trading account. Your success as a trader is the result of many months of trading results, not just one or two. Exiting is not an exact science, and there are times when deviating from your initial exit plan makes sense, but you should always decide before you enter a trade what your ideal exit strategy is and then try to stick to that plan as much. So, without further ado, here are my 9 not-so-secret secrets to successful Forex trading: 1) pick ONE trading method and keep it clean and simple. This is called pre-empting your tradesinstead of randomly jumping in and out of the market, you are watching pre-defined areas in the market and waiting for price action setups to form near them.
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Jim, from Queensland Australia, is a full-time.
Forex, trader, currently residing in Vietnam.
His knowledge of currency trading extends over a 14 year period and has evolved from the old fashioned manual charting when he first started in 2002, to trading on multiple screens and entering the arena of automated trading.
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Find out more at m, cFD Trading Books 20 cashback, get paid to trade, every time you trade. Some people risk too much money for the rush, some do it out of stupidity or greed, whatever the case, make sure you are risking a decent amount, but not an amount that makes your heart pound, and not an amount that causes you. The actual process of updating your forex trading journal will help you stay disciplined and organized. Seriously, go play golf or something, dont sit there and think about your trade after you enter it, stop forexgrand forum thinking for a while and you might just make some money in the markets. So, get off your butt and drink a few coffees, or do whatever you need to do, but if you really make an effort to implement these 9 tips, you will see your trading improve. Learn more, crypto Trading Books, learn to trade Bitcoin, Ethereum and other cryptos with. Instead, stay neutral and act like a strong minded professional with skill, rather than a little school boy who just won 100. The only thing that matters is what the price chart is telling you, so learn to read and trade from that instead of outside sources. The answer is you have to take the bigger loss because you did not take the smaller lossalways take the smaller loss by not ever moving your stop further from entry. The late Rene Rivkin, a famous Australian stock broker and trader, had a classic line about greed: Leave some for the next guy. Holy Grail to long term success is in factsticking with something, believing in it and not hesitating when the opportunities present themselves.