Are These 5 Forex Myths Or Realities?

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asked Sep 21, 2019 in Electron Microscopy by alisaprincy (10,120 points)

This is one of my favorite sayings "you become  Bitcoin Revolution 2 Review what you think about most of the time". Those that continually think about the reasons why they cannot achieve their goals become those reasons. Those that continually think about ways to achieve their goals find those ways. Consistent trading performance starts with the same 3 simple steps: Write down your trading goals. Create a detailed trading plan. Stick to the plan. reason individuals have inconsistent performance trading is they do not create a solid written trading plan to work from.

They typically look at a particular currency pair or pairs, blind to the conditions, and make a quick emotional justification of why they are going to place a trade and do it. They are literally trading from the seat of their pants. What are the results of this practice over time? You make money, you then give it back, as time progresses you give back more than you make. The first rule to follow-Plan your trade, trade your plan. The 6 P's-Proper, prior, planning, prevents poor performance.

We wait for the market to come to us. We plan trades. We do not just look for trades. To be able to do this one must learn via the correct training how to interpret price action and understand market conditions. In short the trader evaluates a particular currency pair and then can set an alarm to be notified when price is in the correct area for a high probability trade. The trader has zero risk at this point. He is waiting for a high probability set-up to develop.

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