Wednesday, March 22, 2023
Forex Broker News
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    Revisión de VastWealth -español

    XTB Review

    Sollari Review

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
  • Home
  • Forex Broker Reviews
    • All
    • Preferred Brokers
    • Regulated Brokers
    • Unregulated Brokers

    Revisión de VastWealth -español

    XTB Review

    Sollari Review

    VastWealth Review

    Stockscale Review

    Fibinex.io Review

    Homefx-Plus Review

    StockHome.io Review

    LegacyFX Review

  • Broker Types
  • Forex & Fintech Jobs
  • News
No Result
View All Result
Forex Broker News
No Result
View All Result
Home News Forex Broker News fxcc blog

The observations novice forex traders should record for each and every trade

Ensure that you document the precise entry point for every trade you take. Record how close to the quote your trades are filled, whether or not you experience any slippage and how consistent the spreads are during various times of the session, or during times when high impact calendar data is published and when outlier political events break. 

Perhaps take a snapshot of your chart and
record the image both at entry and at exit. Not only will this enable you to
establish how close your fills were to the quotes you saw on your platform, you
can also easily record how close your exits are to the quotes. If you’re
trading using an indicator based trading system you can also record how precise
you were in relation to the signal you rely on. Did you stick to your plan, or
did you enter and exit too early?

It’s worth noting what emotions you
experience on entry and what expectations you have for the trade, assuming
you’re not applying a take profit limit order to each and every trade. It’s
also worth noting the position size you’ve used and why. Did you also stay
within the risk tolerance and money-management discipline you’d outlined in
your trading-plan?

Record your initial stop loss decision,
this can prove to be extremely useful if your trade goes bad, or if your stops
are hit too early consistently. In doing so you’ll develop a plan as to where
you should place your stops. For example, you may decide to place your stop at
the session low if you take a long trade and vice-versa if you trade short.

Make a note how often your take profit
limit orders prove to be effective. You may reach a conclusion that you’re
leaving too much profit on the table, therefore, you might consider widening
your profit range. 

It’s worth asking yourself several other
questions, for example, did you commit any errors of execution, what could you
have done to minimise the size of the losing trades and what could you have
done differently in order to maximise the profit potential of the winning
trades?

Record what regrets you have over a period
of trades. Do the regrets involve emotional issues related to lack of control
or your psyche, or do the regrets involve corrupting your trading-plan?

ADVERTISEMENT

Has your belief in your method and
trading-system remained steadfast during the trades you’ve taken during a
session, or on a specific trading day? You must note how much faith you have in
yourself to follow your trading plan. Ask yourself have any doubts appeared.
For example, do you still have faith in your trading strategy to develop profits
over the medium to long term? Notice if you’re satisfied with your choice of
trading style; if you’ve settled on trading as a swing-trader or day-trader,
ask yourself if you’re still comfortable with your decision.

How stressed are you? Make a mental note of
what  (if any) anxiety and stress you
might have experienced during your trade, if you followed your plan did you
experience stress? If you did then perhaps there are elements contained in your
trading-plan that require addressing.

Share197Tweet123ShareSend

Related Posts

fxcc blog

Defend yourself at all times when trading FX

June 19, 2022
fxcc blog

How fear in its various forms can impact on your trading

June 18, 2022
fxcc blog

Accepting what you can control when trading FX is critical to your progress

June 18, 2022
fxcc blog

How to employ a multi time-frame strategy when trading FX

June 18, 2022
fxcc blog

Some essentials to place in your trading-plan

June 12, 2022
fxcc blog

Focus turns to the latest Q2 GDP growth figures for the USA for clues as to the direction the FOMC monetary policy will take.

June 11, 2022

Select one of the Best Forex Brokers for your Trading  |  Read the Reviews

Revisión de VastWealth -español

XTB Review

Sollari Review

VastWealth Review

Stockscale Review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money. forexbroker.news is an affiliated partner with various Forex brokers and may be compensated for referred Forex traders.

Risk Disclosure: Forexbroker.news assumes no liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and forex signals. Operations in the international foreign exchange market contain high levels of risk. Forex trading may not be suitable for all investors. speculating only the money you can afford to lose. Forexbroker.news remind you that the data contained in this website is not necessarily real-time and may not be accurate. All stock prices, indexes, futures are indicative and not appropriate for trading. Thus, Forexbroker.news assumes no responsibility for any trading losses you might incur as a result of using this data.You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Disclaimer: It is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While ForexBroker.News has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by ForexBroker.News, nor shall it bias our reviews, analysis, and opinions.

  • Privacy Policy
  • Contact US
  • Terms of use,

Copyright © 2020 forexbroker.news

No Result
View All Result
  • Home
  • Forex Broker Reviews
  • Broker Types
  • Forex & Fintech Jobs
  • News

© 2020 https://forexbroker.news - Forex Broker news & magazine