Financial & Legal Services
27/09/2014 Financial & Legal Services
“Are you unique forex Trader?” Is common sense is common in all? Heck no!! Trading decisions starts from common sense and lead towards smart approach!What all works here is your uniqueness which makes you to stand all around the world.No two men are of same kind among 8 billion population of world. Even the twins who look identical have different finger prints. Out of which around three 3 trillion people are trying their hands in forex trading. Let me ask you a question “How many of you are giving positive outcome on this common platform, on the same system with the same frequency?” Every student of a class gives different outcomes by acquiring knowledge via same teacher!Forcing yourself into the system which doesn’t match your personality may hinder your progress in trading zone.Whatever type of forex trader you are,whichever trading style you choose, It is not going to give any give fruitful results until and unless you give best of your abilities.Now let’s paint the complete picture....Light! Camera! ACTION!From light camera means to keep focusing on your goal, before taking any shot you must focus on camera settings, lights, background color etc. In case, the shot is not perfect you go for lots of retakes just to bring perfection. The same goes with forex trading which is like an art that takes lots of effort and time to become proficient in it. To acquire positive trading habits one should go with proper mindset and decent knowledge. The use of powerful tools like effective strategies and smart plan amalgamated with effective risk management plan, adds to the art!Action: “We are what we think about and do” Your action reflects the result of your performance no matter you win or lose. The point to consider here that forex trading isthe profession in which nothing is sure about the money you will be earning this month or the losses you are going to bear this time, but whatever gains you make should be seen as “successful trading” in the end!Feedback: “Keep third eye over your action”Keep an eye towards every action of yourself, watch your trades! Maintain trading journal if you cannot analyze your activities in the forex market.To protect the traders what we have is “Trading Journal” which provides an ease of maintaining your trades to make them stick to the trading plan at any cost. It is like a record of what a trader tries to accomplish in trading and of course measures if you're on or off track. It may be targets, entry/exit time, dates, risk- reward ratio, profits or lot-size. Commitment:“Record, Review, Analyze, make adjustments and speed up the learning process”
Now you have got all the tools at your fingerprints by going through the journal, you may know all the details of the trading strategy. For instance, the investment, the outcome of each trade, info about the trading signals you are applying, the profits or losses etc. Now, you may know that “Why were you lagging behind?”, and “What’s really needed to make an improvement?” “Where had you deviated from your trading plan?” “Which pairs I have traded well?” “Atwhich time,market is more suitable for my systems?”Learn by yourself! Analyze wisely with your experiences with the Trading journal!
Positive & realistic attitude with discipline and dedication are those qualities, which make you professional forex trader. Forex trading for an individual is something like how to create own structure around you to implement your unique ideas at global level where trading plan and trading journal reflects the fact that how disciplined and organized you are!
Be unique! Stay focused.....happy trading!