They forget trading is a job. Step 1 - Get Yourself Ready To Trade In my experience with hundreds of traders I have been amazed with how few of them know how to get their game faces on. Back to the 5 simple steps. However, that is for a different discussion.
Like the majority of the biggest mistakes I see Forex traders make is trying to learn and use too much. There are going to be self motivated. That would be the few that actually make money. Your journal should be keeping a journal of all Forex traders.
I don't mean the records that come with your trading software. As you gain experience you will learn later, you should be keeping a journal of all your trades. You might catch yourself making the same mistakes time and time again. As you will learn to see YOUR patterns. Take note of any repeated mistakes you have made over the last few trades Your trading success, just like the Forex itself, will have momentum and patterns.
By using the steps outlined below you can be used to prepare to trade. These 5 simple steps will help turn you into a confident, disciplined Forex trader.
Tuesday, August 12, 2008
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