Useful Tricks to become a very Good Forex Trader.
Here, you will find some tips that will help you to make smarter, and more profitable trades.
Step 1: Define your goals and choose a style of trading that is compatible with these goals..
Step 2: Choose a broker with whom you feel comfortable and also one who offers a trading platform that is appropriate for your style of trading.
Step 3: Choose your methodology and then, be consistent and logical in its application
Step 4: Choose a longer time frame for direction analysis and a shorter time frame entrey and exit.
Step 5: Calculate your expectancy, to determine how reliable your system is. Take a look at your 10 last trades and analyse them to get lessons from them, and so you won’t reproduce the same errors.
Step 6: Focus on your trades and learn to love small losses
Step 7: Build positive feedback loops: Success breeds success. Even if you take a small loss but do so in accordance with a planned trade, then you will be building a positive feedback loop.
Step 8: Perform weekend analysis. It is always good to prepare in advance
Step 9: Keep printed records: This is one of the best learning tools a trader can have.