Categories


  » Home
  » About Forex
  » Forex Scam

Most Popular Articles


Increase Your Forex Pips When The Market is Down

Increase Your Forex Pips When The Market is Down
Sponsors


ADV HERE

Search




Forex Articles - Read and Download Free Articles About Forex Market, Forex Trading Articles, Forex Brokerage, Forex Strategy, Forex Charts and Forex Basics


Learn Forex Trading: 3 Simple Tips for Setting the Stage

By : Todd Judkins
View : 0 Times

You know what they say; trading Forex is 80% mental and that only 5% of all currency traders make money consistently. If this is so, then we are all in an extremely competitive environment. This means that when we trade, we must always be on our "A" game, our peak performance period. Here are 3 simple tips to prepare you each day for the competitive playing field that is the Forex market:

1. REST

Before we turn on the computer and look at the currency pairs, it is imperative that we have had adequate rest. Proper sleep allows us to recharge our batteries and extend our period of maximum focus. Sometimes we all wake up and things are just not in balance. Issues outside of our trading environment or our physical conditions, or lack thereof, are ruling the roost. This is when all successful online Forex traders pull out their Ultimate Weapon of Successful Currency Trading.

We simple don't trade the Forex!

Use this time to review, read or play golf! It's all about probabilities, and the probability of success in Forex trading multiplies when we are at our best.

2. PLAN and REVIEW

Forex Trading is a business and should be treated accordingly. In the business of trading currencies we all should have a plan, a business trading plan. This plan should consist of 2 components: A Mission Statement which should explain your personal "Why?" Why are you trading Forex? Your mission statement must be compelling enough to overcome the inevitable challenges all online Forex traders face. The second component is your Forex trading plan. The component of the overall plan covers the execution of Forex trading. Your Forex plan should cover the what, how, when and risk components of your currency trading. Before each Forex trading session review your entire plan and trade it! Make this a habit. Another trick of successful Forex traders is after losing some focus during the trading period, take a break and before returning refocus by reviewing your plan.

3. RELAX

You must sharpen your mental saw before each and every Forex trading session. There are a variety of methods for helping you relax and focus. You can listen to your favorite music, meditate in a quiet place, recite positive wealth building affirmations, or listening to a Confidence for Traders CD. When it comes to developing a mental edge, play every ace. The correct method is the one that works for you!

After all of your preparation you still find yourself not on top of your game you can once again consider the ultimate weapon of great online Forex traders. Walk away! You do not have to trade the Forex today. Preparing for your trading session is all about placing yourself is the best position possible to take advantage of the myriad of opportunities that makes the Forex market great. When you incorporate mental preparations into your daily Forex trading ritual you have set the stage for handling whatever the currency market can throw at you with confidence, determination and clarity. Remember, above all the hype, strategies and methodologies lies common sense.

Use it and you too will find success, because it's always the little things that make all the difference in the world!

About the author:
ABOUT THE AUTHOR: Todd Judkins specializes in teaching real
people how to trade the Forex market for long term success by
focusing on strategic, mental and money skills. He is a currency
trader, educator and success coach to traders worldwide! If you
are now ready t take action, follow this link to begin training
with Todd immediately and live in the Forex market today. Visit:
forexjourney.com" target=_blank>http://www.forexjourney.com and sign up for Forex Jour


2008 - Daooer - Free Forex Articles And FX Resources. All Rights Reserved.