General Rules:
Pre-Trade
-Know which session you are trading; focus on the pairs that are most volatile in that session
-Make sure to prepare; study multiple timeframes and correlated pairs/commodities
-Check the economic release calender; use this to help identify pairs that will be in play for the day
-Identify key levels on your charts
-Develop if/then statements for your possible trading opportunities
-Share your ideas with other traders; sometimes a different perspective helps a lot
During the Trade
-Check the economic release calender; use this to help identify pairs that will be in play for the day
-Identify key levels on your charts
-Develop if/then statements for your possible trading opportunities
-Share your ideas with other traders; sometimes a different perspective helps a lot
During the Trade
-Focus on the current trade; don't let past trades (good or bad) affect your perspective
-Strictly follow risk management and make NO exceptions to the rules!
-Always have a hard stop, but don't be afraid close a position before it's if the circumstances change
-Only trade the setups you are familiar with; paper trade new setups for practice until you feel comfortable with them
-Be patient while searching for entries; don't settle for OK entries when patience will provide you with GREAT entries
-Don't chase plays you've already missed; wait for your next entry
-Avoid trading on a tilt
Post-Trade
-Go back to your charts, label significant points and save a screenshot for future reference
-Write a detailed observation of your trades and make sure to review them later in the day
-Talk over your trades with another trader if possible
-Visualize yourself making the trades again but focus on fixing your mistakes; this will help the next time you encounter a similar trading opportunity
-Always have a hard stop, but don't be afraid close a position before it's if the circumstances change
-Only trade the setups you are familiar with; paper trade new setups for practice until you feel comfortable with them
-Be patient while searching for entries; don't settle for OK entries when patience will provide you with GREAT entries
-Don't chase plays you've already missed; wait for your next entry
-Avoid trading on a tilt
Post-Trade
-Go back to your charts, label significant points and save a screenshot for future reference
-Write a detailed observation of your trades and make sure to review them later in the day
-Talk over your trades with another trader if possible
-Visualize yourself making the trades again but focus on fixing your mistakes; this will help the next time you encounter a similar trading opportunity
