A new month is upon us as the summer months slip away for 2017 and a new season is about to begin.
Renewal. A time where we can evaluate the old and let what doesn’t work slip away and have a fresh start.
In trading, nothing is more important than your trading plan. Inside that trading plan is the result of hard back testing work where you have decided:
What makes up your trading setup
How you will get triggered into the trade
What time frames you will pay attention to
Risk management – per trade risk and overall portfolio exposure
All of those points in your trading plan are held together by trading discipline and the understanding that you will lose. Handling the losses in a positive way is about your expectations, reality, and your understanding of trading psychology.
They must all hold together for you to find success.
follow your trading plan
What’s The Big Deal?
I’ve been publishing free Forex signals (more like setups) for a while now and for many, they are a lesson in price action and bull/bear battles. They are developed with the understanding of market mechanics and the actions of other traders.
My approach does not change.
I got to thinking when I was fortunate enough to get some comments in regards to some of the currency pairs. It is so easy to be led off your path even though it is allowed you to have the freedom that many crave.
I found myself having respect for the person that commented. I don’t know them but through the brief words, I could tell they have an actual process they follow. Yes, I could be wrong but that is how it appeared.
I have my process. I have not influenced by anybody but I guarantee that many that read this trading blog will deviate on the words of someone else.
Understand that what I am about to say is not bashing this commentator. In fact, they have my utmost respect but I must use the words as a lesson to those who are easily led off their own path.