In this week’s lesson, I am going to share with you a proven technique for
becoming a “Master” of your Forex trading strategy. If you’re a regular reader
of my blog then you know that I refer to “mastering” your trading strategy in
many of my articles, and today’s lesson is going to get into the meat of
exactly HOW to master your trading strategy and WHY it’s so important.
Staying focused on one trading method long enough to really learn how to
trade it effectively is something that many traders struggle with. Based on my
personal experience from observing and helping thousands of traders, the
traders who focus on learning one entry trigger or one setup at a time are
typically the ones who succeed at trading. Since I am a price action trader and
I teach price action trading, I teach my members to focus their attention on
learning ONE price action setup at a time, until they feel they’ve “mastered”
it, and then they can move on and add more setups to their arsenal.
Mastering one setup at a time helps create focus and clarity in a trader’s
mind by removing clutter and minimizing decisions.
Why You Need To Become A Master In Trading Strategy
I know that this might seem obvious, but you really need to “Master” your trading strategy before you try trading it on a live
account. Why am I saying this if it seems so obvious you ask? It’s simple, from
my interactions with traders every day, I know for a fact that far too many of
them are diving into live-account trading without any real clue as to what
their trading strategy is or how to trade it. Many traders “think” or “feel”
like they know what their trading strategy is and how to trade it, but the
truth is that most beginning and struggling traders have not truly “mastered”
their trading strategy yet.
Ask yourself these two questions: Do I know my trading strategy inside and
out? Am I at the point where I can flick through the charts in 5 or 10 minutes
and instantly know if there’s a setup worth trading or not? If you can’t answer
an honest “yes” to both of these questions then you aren’t ready to trade live
and you have not mastered your trading strategy yet.
I talk about trading like a sniper in many of my articles. Whether it’s what crocodiles can teach you about
trading or how to trade
from a coffee shop in a minimalistic manner; the underlying point is
basically the same; trading in a relaxed and scaled-back manner is best.
But, HOW do you arrive at that point of trading in a relaxed and confident
manner? You have to first become a master of your trading strategy, and then
you will have the ability to quickly scan the markets and make a confident
decision to trade or not to trade. If you aren’t doing that, then you are probably
sitting there for hours mulling over your charts until you eventually convince
yourself of a trade signal that later you realized was not really worth trading
at all. If this sounds familiar then read on, I’m going to tell you how to fix
it…
Remain Focus
Most traders struggle with focus, and it’s not surprising really. How can
you easily focus when there are so many different trading methods, economic news events and other
market variables bombarding you every day?
With all the different trading systems and strategies out there, how can you
really know if what you’re doing is “right” or if it will work if you can’t
focus on it enough? Well, the answer to that question is that you can’t. You
can’t know if any strategy or system will work until you try it, and the key is
that you have to try it over a large enough series of trades to see it play
out.
MOST traders struggle with sticking to one trading method long enough to see
it play out. Why? It’s because they try to tackle too much at one time; they
try to trade with 10 different forex indicators or they try to trade 30
different markets at once with 5 different entry triggers. The truth is, the
entry trigger is the easiest part of trading, and it’s also the part that
traders over-complicate the most.
I wish you the best in your trading experience. Forex is not gambling, it's all depend on you and the set mind you put in your trading life.
Success in your trading experience.
t4josy
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