Pondering of creating recent trading goals to begin a brand recent trading quarter?

In the event you’re taking a while to review your trading goals over the long weekend, listed here are some helpful reminders to consider.

1. Latest just isn’t at all times higher.

Unlike numerous franchise reboots, I don’t imagine that “recent is at all times higher.”

Before you explore recent strategies, take a re-evaluation at your old ones and check if a straightforward adjustment in stop losses, position sizing, or indicator settings would have modified the final result of your trades.

Also, check your journal to see when you consistently executed your strategy–even one of the best strategies can’t be made profitable with poor execution.

2. Set realistic expectations.

Simply because you caught a 200:1 reward-to-risk trade doesn’t mean that you must aim for a 1,000% gain in your account for the remainder of the yr.

Set your goals and expectations based in your average performance, available time for trading, and capital limitations.

3. Winning might be as dangerous to your account as losing.

Do you realize how losing streaks could make you terrified of taking trades?

Well, winning may cause psychological damage by making you overconfident.

This may result in an absence of preparation and overtrading, which is worse than being too fearful because you’re more than likely taking up unnecessary risks.

4. Deal with the method, not the profits.

All of the points above might be summarized on this one: Foreign currency trading is a marathon, not a sprint.

Like several worthy endeavor, becoming consistently profitable requires consistent practice and self-development.

Don’t kid yourself when you think it requires anything lower than that.

Don’t be distracted by one-time profits and losses.

Keep your eyes on the prize, and stay focused on doing the precise things, the precise way, at the precise time.

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