August 31, 2018 at 11:29 am #95
Did you ever have a feeling that you are becoming a machine in your workplace? You have to follow the same schedule every working day. The same route to your work and the same desk. The same paperwork. All these things might be boring but, it is important. Because those are the reason that you are making money. And you can spend some quality time with your family in the “Disney Land”. When you are planning to join the trading business, you are probably thinking there will be a lot of time for you. But, you will be surprised to know that it is the same in the trading business. And you will also have to follow a consistent trading schedule, especially when you are a novice. Let’s dig deep into the context and find out how to trade like a bionic machine.
Follow your schedule
When you are planning for trading, you have to find out proper time. You have to plan according to the free time. A time when no one can bother you. A suitable time for a family man would be midnight. Because that’s when your household work will end and your kids would go to sleep. In case you have a very busy schedule, you should not spoil your resting time (night sleep). But, for trading, it is necessary you plan for your trading schedule. Otherwise, you will not get a chance to be regular in this business. And regular participation is really necessary if you want to be a professional trader. If you are aiming at trading is your main job, you have to follow a schedule.
Lock your emotions
You have to lock your emotions. As a currency trader, you need to make sure you are executing orders with rational logic in your Forex trading account. Some of you might get emotional and take a huge risk to recover your loss. But do you really think this is the perfect way to deal with your losing trades? The simple answer is NO. Being a new investor, you have to craft a system which will help you to trade with an extreme level of precision. Try to take prompt action when you find logical trades. Never fear to execute any trades with managed risk. Losing or winning doesn’t really matter as long as you trade with proper risk management. Think smart and develop your mentality to deal with the complex nature of this market.
After you made a plan of trading, you need to maintain it. The initial time is the main to learn the basics of trading. And when you have learned the basic, you can try more advanced tricks of this business. But, you must join regularly. If you don’t want to trade, that’s fine. Just turn on your setup and observe the market. This will still help you learn more from the market. Because you will be able to learn the characteristics and behavior of the price. Look for new tricks on the internet and apply your theory when you are not trading. At least learn new strategies when you’re just sitting before your setup.
Focus on your trades
Trading is not like a poker game or gamble. Yes, fate has a high relation with it. But, if you can predict properly and execute your trade at the right time, you will be able to make money. That is why you need concentration on your work. Don’t think that money is the point of concentration because we mentioned it earlier. Your main focus should be on how to improve your trading performance. And by the performance, we mean how efficiently you can trade. Like a cyborg, you have to stay committed to your goal and focus on the execution. Not the Profit from your trades. So, act like a robot when you are trading and keep your trading quality at the first preference.
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