Hello and welcome back to today’s post, dear beginner trader.

In today’s post, I would like to ask you an honest question to know your stance as a beginner trader.

I believe that this question can help you to become a better financial market trader if you are an open-minded beginner trader.

 

So, let’s get started.

Have you been making any profitable progress in your trading career?

More importantly, are you making profit withdrawals and tracking them?

If you’re like many traders out there and the only thing you remember about the start of your year goals list is that it’s buried deep in your desk drawer, then it’s probably time to revisit those goals, if not make new ones altogether.

Let’s take a look at some pretty easy (but necessary) trading habits that have helped many traders but might have missed your resolutions radar.

Hopefully, you will give these trading habits a better chance (if you haven’t already) over the next few weeks and someday you’ll look back and be thankful that you did.

 

1. USING PROVEN CALCULATED STOP LOSSES:

Losing trades are inevitable in financial market trading and investing.

Even the best of Forex market traders have losing days.

Unfortunately, many beginner traders would rather be right than be profitable and using stops would confirm that they are wrong.

This could lead to uncontrollable losses and ultimately, blown accounts.

While you can’t control market behavior, you can control how much you lose per trade as a financial market trader.

You can widen, tighten, or adjust your stop losses, but make sure that you always have them.

 

2. MAKING PRE-TRADE PREPARATIONS:

If you plan to win, you don’t go into a match without a game plan, which means you also don’t start trading without some kind of strategy or play in mind.

Those who don’t have any plan in mind unnecessarily expose themselves to psychological mistakes that could cost them avoidable losses.

Making pre-trade preparations can be as simple as marking important economic events and chart levels, or it could be as detailed as considering different setups and contingency plans for a single event.

 

3. JOURNALING HABITS DURING FINANCIAL MARKET TRADES:

Keeping a journal is a crucial task in any performance- or goal-oriented endeavour.

Remember that your broker logs only give you the raw data of what happened, not why it happened.

Also, you can’t improve what you don’t measure.

The key is to have some way to track and stay focused on improving your performance.

Whether it includes just your basic journal statistics or even the overlooked ones, a trading journal is a must-have for consistently profitable financial market trading.

 

4. ALLOTTING A SPECIFIC TIME FOR YOUR FINANCIAL MARKET TRADING:

Just because Forex trading is a 24-hour party doesn’t mean that you should be around the charts all day.

The fact is a lot of traders are part-time traders.

This means limited trading time and even less time for other trading activities.

You can still make the most of your trading time, though, by avoiding distractions and focusing only on trading-related activities during a specific part of the day.

 

5. FINDING YOUR PERFECT PROFITABLE TRADING SYSTEM STRATEGY:

I have met a lot of beginner traders who have been trading for months but have yet to determine strategies that suit them.

I always recommend specializing when it comes to Forex market trading, which you as a beginner can have easy access to when using the Band single system strategy indicator.

While it’s always good to try out new methods and systems, it’s also great to be able to pin down which currency pairs, time frames, and indicators generally work for you as a financial market trader.

This way you’ll at least have some place to start when you’re ready to improve your Forex trading performance.

There you have it, an honest question that can help you to become a better financial market trader if you are an open-minded beginner trader.

 

Congratulations, as you plan and make every right effort to succeed as a financial market trader.

 

Based on its beginner friendly and profitable user experience as a trader, here is my recommended technical indicator for you as a beginner today (Band Single Indicator).

Also, to join other beginners in my recommended ongoing 14-day Career Freedom Opportunity, click here

 

P.S.: If you have any questions regarding this post, kindly go ahead and comment in the comment section below or share this post with your financial market trader friends using the share button on this post page. Thank you!

I want to see you succeed in life and in your financial market trading career.

 

Talk to you soon,

 

Daniel Ohuegbe,

14-Day Career Freedom Opportunity Founder And CashForex Trading System Creator!

14-Day Financial Market Success Mentor! 

Dedicated To Redeeming Your Career And Financial Freedom!