Are you a person that is thoroughly interested in Trading but it just don’t seem to work for you? Then here are some things you would like to pay attention to. Understand in life we begin as a baby crawling, then making steps with help, before walking on our own. Same with bicycling, first you are hold when keeping balance, next you try to cycle 10 meters, then 20 meters. Before you know it you are not supported anymore and are cycling on your own through the street. In next months and years you learn to do tricks on your bike and ride without your hands holding the handlebar.
Now this is very much the same as any other endeavor you approach in life. Remember your last activities in business, sports, home? See all is done in tiny steps after each other. And you get the results you want right? Try starting small with trading and repeat those steps to be successful. Then scale up when things go well but never forget these steps:
- It’s never too late to start improving and start winning more.
- Scale back your trading size.
Look at your available margin and maximum risk container.
- Scale back your trading amount.
How often do you trade or how many trades do you have open at the same time?
- Scale back in the amount of pairs you trade and keep in mind correlated pairs or assets.
- Review your trading strategies. Is it still working as it should?
Keep strategies that work or cut back on the amount of different strategies you are using, it is confusing you more then you realize.
- Clean up your charts so you get clarity in what you want to do.
Doesn’t have to mean you have to drop all indicators just get the focus back on your system.
- When things don’t work they give no positive results on equity.
Make adjustments to your strategy. Be open to try new strategies. Put new or not working strategies in testing mode by trying those out on a demo account first.
- Grow confidence in having multiple winning setups.
Know your good trades and know losing is a part of trading.
You just need to win more then you lose.
Do you question yourself how to do all this? Confused about your approach but know what you want? Let me know in the comments below what you want me to write about. I find ways to teach you, make you improve your trading style, grow your confidence and win rate.
Feel free to register with one of our recommended brokers. You can have multiple accounts demo and live to separate risk with different strategies or approaches. Contact your account manager for details.
Thanks for your interest in reading my posts and be well and prosper. If you would be so kind, help your friends and family by sharing this message to them with the share buttons below. Thank you so much for your support and I see you next time.
Wilco van Boxtel is Chief Currency Trader & Mentor at TradeReact. He has over 17+ years trading experience since 1998. Besides currencies he knows many other markets and assets. Now he is here to educate and inspire you to be successfull in trading too. Subscribe and follow his lead.