Best 4 Tips to Improve Your Forex Trading Today
Popular blog posts:
13 Habits of Successful Forex Trader https://www.becomingtraderfx.com/13-habits-successful-forex-trader/
44 Maxims of the Successful Forex Trader
18 Lessons I Learned in 10 Years of Forex
Hello forex traders,
Zan here from Becomingtraderfx.com and in todays video I will share with you best 4 tips to improve your forex trading today. It does not matter if you are new to trading or already experienced and profitable trader, those 4 tips can help you to improve your daily forex trading process to become a better forex trader.
1ST TIP: USE ONE TRADING EDGE, STRATEGY
When it comes to trading, I suggest you to stop trying to trade everything. Focus only on one edge and become really good at it. You do not need anything else.
2ND TIP: LIMIT THE NUMBER OF TRADES
Today anyone can trade anything. Different types of instruments, commodities, companies. But here comes the danger for the most of traders. You can trade all day, if you want, but from my experiences I know this is the recipe for a trading disaster.
Trading the markets all day will leave you confused, tired and exhausted.
You must understand trading the financial markets is a marathon, so you must treat it this way. Market does not care for your wishes and desires to make money so Stop chasing the market moves and setups. You must understand great setups will always come to you, once you follow your proven trading process. Do your preparation and stay patient.
3RD TIP: FOCUS ON THE PRICE AND HIGH TIMEFRAMES
Traders today are overthinking with strategies and different indicator, and that makes their trading process very complicated. I suggest you to always stick to the basics of the market and simplify your trading process.
Ask yourself what drives the forex market and what is only thing that will be always right?
Market is driven by emotions, by fear and greed. Every chart print you see is caused by human emotions. And you simply need to use this info to make your trading decisions. You do not need useless indicator and magic formulas.
4TH TIP: TREAT YOU TRADING AS A BUSINESS
If you started with trading just because you need extra money in your pocket, you better stop right now my friend. Trying to make a “quick and easy money” will never work on the long-term. Trading randomly will achieve exactly zero.
When you open your live trading account, and you decide to start trading the financial markets you did not become just a trader.
You became a businessman, and your trading account is your capital you will manage. You are in the charge, no one else.