Secrets of Consistent Forex Profits

Hello, I hear from traders over and over again is how to become a consistently profitable trader. Many traders will have this yoyo trading where they have a great run. Then they get back their profits
they do another great run, and then they lose everything and maybe more, so how do you get to this place where you’re making consistent profits from the market? What I found is that to become consistent in your trading, you have to become consistent in your actions, so the first essential thing is to make sure you have a daily routine, and this doesn’t have to be something fancy all you’re trying to do put some structure
around your trading, so in your daily routine, you want to make sure you check all the news, so you go through your Bloomberg voitures each, so you understand what’s going on in the different markets then you want to go to your fat forex factory or any economic calendar
that you like and make sure you understand when the important news is coming and when this news is in the markets you know that it’ll be volatile, so you want to stay away from that, and then we go to the charts and make sure you do your rundown
you prepare yourself for the following day, so having a simple routine like this will help you make sure that you’re hitting all the points that you need to before you make a trade
so you’ll see that when athletes go into a tournament or something, they will warm up before they start playing the same way we as traders need to warm up before we jump into the trades, and having a simple routine like this before taking trades will give you that warm-up where you’ll have a better idea of what’s going on in the market so that you can make better trades and if you want to find out my morning routine click this video another thing that most of us do not like doing but I have found that it is very very important to become a consistent
the trader is to keep a trade journal. One thing that a lot of us don’t like to do is keeping a trade journal. I know it’s hard to keep a trade journal; I wouldn’t say I like it, and this is why I started turning pro challenge so that I bring that structure to my trading.
. It will force me to do a trade route, but what do we need to, but why do we need a trade journal? The trade journal forces us to focus on our actions so we’ll be able to see what kind of trades we are taking and once we’re looking back at the markets
without the emotion attached to jumping into the trades, we’ll be able to see whether that was a good decision or not, so having that sort of accountability and review of your trades will over time help you take fewer trades but much, much better trades because now you will have a lot of data of what you’re doing which is not working and you’ll have the data of also what you did that worked well so in that case, you can discard the stuff that’s not working and do more of what is working for you, but to find out what it’s working for you we do need to have a trade
journal, so having a trade journal is very, very important if you want to become a consistently profitable trader and something that goes hand-in-hand with our trade journal is tracking and analyzing our trades a lot of times, we’ll jump into the trades we’re so excited about taking
trades, but when it comes to reviewing our trades, we sort of fall on our faces. Going back to sports, you’ll see that many athletes will spend hours reviewing the tapes. They will go back to watch what they did on the field, their performance, and how they can improve that same way. We need to review our trades as well, so when you’re doing a review, you want to make sure that you capture the trade setup
that you took when you got into the trade and then looking back at it after things have worked out, you want to capture the market once again to see how did that play out and if you do that, you’ll see that there are certain trades or types of trade setups that work better for you and it will help you take those another thing is when you’re analyzing your trades you will also notice if you’re taking too many trades
and if you are, you will find out that the more trades you take, the less profitability you have, so it will also help you narrow your focus and only focus on good high-quality trades as opposed to just getting into trades because you’re afraid of missing out on the trades so make sure you’re not just keeping a trade journal you’re also taking time to analyze your trades and learn from them and if you’d like to join me in making sure you are becoming a consistently profitable trader click
the link below and join the turning pro challenge. You will get all the resources that I’m using to become more of a consistently profitable trader so that you can apply them yourself as well and track your results as I
do that myself, so that’s it for today. Have a wonderful trading week, and I’ll see you next time.

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2 thoughts on “Secrets of Consistent Forex Profits

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