Simple FOREX Trading Improvements

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Are you finding that you’re hardly quite having the results you desired from trading Foreign Exchange or FOREX?
Are you continue to struggling to obtain a bit of a boost to your account?
There are lots of easy ways to enhance your FOREX trading. Most of them are fairly generic for the reason that they sign up for trading generally speaking. The thing is that being human, we often let our emotions get in the way and that we understand that whenever we traded like machines, we’d probably improve results.
Let’s proceed through a number of the more obvious things you can do.
Have you have your trading plan sorted out yet? Does it specifically let you know how you put on, manage and exit trades? What the trade timeframe is, what currency pairs you will consider trading.
Do minimise your risk on every trade. If it’s likely to set you back 20 pips to be wrong and there’s merely a target of 18 pips within the trade, it’s not worth the bother! Keep your reward to risk ratio to no less than one to one, better still if one makes it a lot more like 3 to a single.
Have you recorded your trades and updated your stats from them? For me, this is the most fun little bit of trading. Every month end, I analyse my trades to find out the location where the money originated (or got lost to). I know what currency pair made me the most money, what type of trades were the top ones plus what were the worst.
Remember your losers provide you with the most successful information simply because they educate you on what to avoid doing!
Do watch industry news. I don’t mean spending hours of TV watching, I just go through the daily news releases and make up a note products time they’re in order to avoid trading at these times. I know some people like these volatile moments in trading, but my plan is more conservative and safe.
Don’t be greedy! I’m quite happy with getting only a 10% or 20% move in a trend, it’s better than nothing in any respect. Don’t try to get 100 pips each time. This attitude will cause overtrading and certain losses. You often learn this one hard way though!
Don’t use a lot of tools and indicators on your own charts. Simple is better. Don’t get analysis paralysis! I use only one indicator, the RSI.
It’s these obvious items that we often ignore that reduce our trading performance. You’ve just received being really honest on your own and have whether you are doing them or otherwise.

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