try and keep up with the Joneseswho cares about the Joneses, they arent that interesting anyway. They are nice things to have if you can truly afford them, but you really dont need them to trade successfully. Many of you know that I take a very stripped down and simple approach to trading the markets, and so if you think about the benefits of being a minimalist in everyday life, it really is no big surprise that its also the best way. So what the hell does this have to do with trading you ask? What are the critical elements of a trading plan? It is very easy to feel over-confident or in control of the market after a string of winning trades.
The reason Im sharing this story with you, is because I believe that most of you out there can benefit from applying a similar logic to your life,.e. However, you might not know WHY I trade and teach this approach. This is the entire point of having a forex trading plan; to have a physical reminder of what the best thing for your trading account is at any given time. Determine the risk to reward scenario on any potential trade setup before entering. Just as having less material things in my life has significantly increased my peace of mind, bank account and time spent with my family, it can also help you to become a better person and trader. Whether its in your home or from the local Starbucks, make your surroundings minimal.
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The best time to make your trading decisions is when you are not in any trades, this is done by creating a logical Forex trading plan that acts as your guide to the market, and this is really the only effective way to consciously make. Meaning of 5th Letter in Nasdaq Ticker Symbols 110 Financial Calculators, for Small best forex trading in chennai Cap Stocks, A Recovery Is Taking Place. Most traders lose money because they make emotional trading mistakes; this is something most all of us can agree. The period of time right after a trade is one of the most, if not the most, emotionally sensitive period for traders. Success in the markets is a function of discipline, and most people simply do not have enough self-discipline to determine if they are trading emotionally or objectively. Dont do this, dont write it down in a note book, type it up on your computer and print it out if you need to, then place it on your trading desk, hang it on your fridge, whatever it takes so that you read. I recently sold my luxury house in Queensland Australia and am currently renting while my family and I decide where we really want to live.