Thursday, October 6, 2016

Tips to ensure your long term success in the currency market




  • Plan every trade on paper before entering it
  • Set clear goals : daily, weekly, monthly, yearly
  • Journal every trade
  • Master the basics, and practice key skills to build competence
  • Stick with what you know, don’t try anything fancy without being comfortable first
  • Keep a journal to build on success and learn from mistakes
  • Monitor yourself and develop yourself
  • Study and learn continually with focus on full comprehension
  •  Manage your money and risk constantly
  •  Keep your pride and ego in check, they won’t make you money
  •  Keep a clear head and listen to it, but don’t get caught up in emotions. Stay objective.
  •  Keep your awareness high, especially regarding time. This is a marathon not a sprint.
  • Keep respect for the market, yourself, and your money.
  • Think every trade all the way through, including all possibilities.
  • Review your trades, your journal, your goals, and your milestones on a regular basis. Build on success and avoid the same mistakes.
  •  Do your trading in an organized place and adhere to your policies and this success sheet
  • Run your trading the same way you’d run your business. It is YOUR BUSINESS.

No comments: