How to get your trading done
Trading is the easiest hardest way to become financially free.
You need to follow a simple approach and then have the discipline to do it again and again for the rest of your life.
It can at first be a daunting task because you have to implement an element of risk.
But before you know it, you’ll be free from your financial shackles and struggle.
Here are five tips to help you get your financial trading done efficiently and effectively.
Step #1: Always have your cheat sheet with you.
A cheat sheet is a list of rules that you have set for yourself when trading.
These rules are from how to spot trading signals, getting your trading setup ready, to implementing the maximum amount of money you’re willing to risk on a trade to the indicators you look for when deciding on a trade.
Always make sure you have your cheat sheet with you to have a clear set of rules to follow. This way you’ll avoid making impulsive decisions.
Step #2: Look for the right trading setups with high probability trades.
Before you enter a trade, it’s essential to look for the right trading setup.
A trading setup is a specific combination of conditions that must be met before you enter a trade.
For example, you may look for a bullish continuation or reversal price breakout strategy, combined with a moving average crossover and RSI divergence indicator.
Once you have identified the right trading setup, you can then look for high probability trades within that setup.
Step #3: Execute your trades or just take the trade.
Once you have identified a high probability trade, it’s time to execute the trade.
When executing a trade, it’s important to remember that the market can be unpredictable.
You may have done everything right and still end up losing money on a trade.
Therefore, it’s essential to take the trade, execute your plan, and move on to the next opportunity.
Step #4: Journal your trades
It’s essential to keep a record of all your trades, including the reasons why you entered and exited the trade.
This can help you identify patterns in your trading and make adjustments to your strategy as needed.
This way you can record, monitor and also identify areas where you can improve and re-evaluate your trading plan accordingly.
Step #5: Rinse and repeat the process.
Finally, once you have executed a trade, recorded it in your journal, and made any necessary adjustments to your trading plan, it’s time to rinse and repeat the process.
Trading is a continuous process.
There will always be new opportunities to explore and it’s ALWAYS the right time to start or continue.
If you follow the above steps, you’ll increase your chances of success and make the most of your trading endeavours.
If you found this was helpful let me know in the comments.
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