Anything Is Possible
There is nothing that you cannot achieve in forex trading if you focus your time and energy in trading, rather than complaining about your losses without a strategy and yet hoping to get more. You only need to set clear goals and understand how the trading system works.
Set Goals Compatible With Your Trading Style
It is imperative to have clear goals on what you want to achieve in mind- which is in line with your trading style.
Select A Broker Who Can Give You A Suitable Trading Platform
Choosing a broker who has a good reputation is very important for your trading success, so spend time researching an appropriate platform before commencing to trade.
Carefully Select Your Time Frame For Entry And Exit
Understand the difference between the daily and weekly charts. To avoid confusion, always wait for the right buy signal from your chart.
Compute How Much You Expect
Measure the trades you won and those that you lost- as this will determine how profitable your winning trades were against how much your losing trades cost you.
Build Feedback Circles That Are Positive
Planning and executing your trade well will create positive feedback, even though you take a small loss but do so in accordance with a planned trade.
Stay Focused On Your Trades And Learn To Accept Minor Losses
Losses are always bound to come, so small losses shouldn’t distract you from focusing on your trading.
Analyse on Weekends
During the weekends, when the markets are closed, observe and study weekly charts to look for patterns or news that could possibly affect your trade.
Print A Record And Store It
Make a print out of charts and list all of the reasons for the trade, including the fundamentals that sway your decisions. Also mark the chart with your entry and your exit points while making relevant comments.