Strategy and mindset

Discipline is an integral part of any forex trading #strategy. Without #discipline, a solid trading system and proper #risk management rules lose all of their value.

87.6% expect a December interest rate cut

SUCCESSFUL TRADING

1. Trading system

- Vision
- Execution
- Analytical skills

2. #Risk management

- Discipline
- Consistency
- Probability-based approach

3. #Psychology

- Patience
- Emotion control
- Long term thinking

You don't need more % You need more #capital

ARE YOU AN EMOTIONAL TRADER? Do This Self-Exam.

An emotional trader's typical mindset:

1. I must keep looking for new trading strategies until I find out the best and most accurate one.

2. I feel excited when the price goes in my favour.

3. I am upset when I lose in a trade.

4. I feel regret when I miss out a profitable trade.

5. I enter a trade based on my "gut feeling" that the price will go as I predict.

6. I hope that price will one day go back in my favour.

7. As long as I don't cut loss, I am not losing yet.

8. I bet almost all my chips on a single trade that I "feel" is a profitable one.

9. I don't have a trading plan. In fact, I don't even know what a trading plan is.

10. I always risk $1 to get LESS than $1.

11. I want to trade more when I have successive win trades.

12. When I incur losses, I am eager to trade more to hopefully cover the losses.

13. I enter a trade because my friends told me to.

14. Don't ask me to learn. I want only trading tips.

15. Tell me which currency pair will go up tomorrow without knowing yourself.

16. Tell me the best time frame/indicators to trade on.

17. I feel like a stupid to learn from scratch even though I had huge losses.

"If you eliminate all of the above, you will be a super profitable trader. To be sincere "