Uni-Forex Trading Brokerage FIRM

Another beautiful day!!!
Quote of the day: Focus on the Opportunities and not the obstacles!!!

We focused on falling into common trading mistakes such as not having emotional control yesterday.

The second trading question we will be looking at today is:

Have you developed a trading system?
Trading without a system is like pushing random buttons into a video game controller, hoping that you’ll hit a winning combo.
You may win, but you won’t know how you can do it again.
A trading system will go a long way at helping you become consistently profitable.
If you don’t know how to build one, then you can start with simply identifying your entry and exit parameters.

Hello fellow traders out there, it is the beginning of another great week. I hope you are looking forward to profitable trades as I am. How ever I want you to remember the forex community has lots of information worth sharing among ourselves so that we succeed together.

These are some questions and answers I would want us to through together for this week.

How do you know when you’re on the right track?

Does a negative balance automatically mean that you suck as a trader?

How many trades do you think is needed before you HAVE to show profits?

Should you panic when you’re on a losing streak?

If you freaked out over the questions above, don’t.

Remember that losing is as much part of trading as winning.

However, a stream of losses or consistent lack of profits could be a sign that your trading process needs tweaking.

Here are five questions you need to answer to help identify your problem areas of course, trading on demo before opening a live account would’ve already answered most of these.

1. Are you falling into common trading mistakes?
As humans, we have the tendency to think that we'll be the exception to a rule.

We buy lottery tickets believing that we’ll win the huge jackpot prize.

Others buy houses near fault lines thinking “Eh. There won’t be any earthquakes while I live here anyway.”

Traders are no different.

Though we’ve been warned that more than 95% don’t survive their first months, we are still overconfident enough to think that we'll be immune to the classic trading mistakes.

Don’t be afraid to check if you’ve committed one of them.

Whether it’s the basic ones like not setting stops or psychology-related ones like lack of emotional control, it’s better to confront your trading problems as early as you can.

Uni-forex trading brokerage firms is your no. 1 stop shop for all trading lessons from beginners to advance. tweet us for all your trading advice.

Creating wealth together through forex trading. There's more knowledge and information.

Uni-Forex Trading Brokerage Firm. Book your trading appointment. Call +233 24 396 9265/ +233 54 990 3932 email: [email protected]