Monday, April 18, 2016

Trading Plan (lesson6)

It is important to have a trading plan.
Always have a structured plan when you look at your charts.

Example: you review your current fundamental situation, you look at central bank information, how are traders positioned, news thats happened for the day or upcoming news so you know on what currency to focus on. Then when you find a currency you want to focus on and go to your chart and find good areas for entering your trades.

Be methodical about how you approach the market every day. This will ensure that you are not overlooking things, or missing things because there is a lot of noise so you need to know exactly what you are looking for every time you are ready to trade.
You need to build a consistent approach to the markets, write down your trading plan and follow it every day until it becomes a habit.

Trader Alen

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