Tejas 4 months ago.
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I was to scare to pull my sleeves up and get to work, study, do my own research, do my own analysis. Every speculator is different, every human psyche is different and unique, every personality is exclusive. Casey's rules and plan work for him because he came up with them, they match his personality and emotional boundries.
He profits with them, but I might not profit with them, but rather with my rules. It's also a matter of confidence, believing in yourself, believing that you are capable of working on your own.
Remember, you are responsible for every trade you make, so make your own mistakes. But of course not everyone is prepared and willing to go through that. In general we prefer to fall into the safety of the group, which is everything this profession is not. Would you agree to stop trading, even on your demo account, and spent the next months studying, reading, researching, taking notes and questionnning every aspect of this profession technical side, fundamental side and psychological side?
Helder thanks so much for your insightful comments. I hope that you stay around because i like your wisdom that you so willingly share with everyone. I would like to exchange links with your site http: Good article, Each and every Place is good Sufficient.
Many thanks for sharing with us your wisdom. You certainly deserve a round of applause for your post and more specifically, your blog in general. Very high quality material. I find it difficult to subscribe RSS feeds, bookmark this site anyway I have is a very useful and complete information.
Your tutorials have been a great source of trading tool for me. I have not been following my own check list religiously. Also I am learning to be prudent in keeping my trading journal.
Now Following the inspiration received from this posts, I will become a better trader. Thanks to your efforts. Your email address will not be published. Our Recommended Forex Checklist First I identify the trend and look for trades that fall within the direction of the trend.
Next, I find the signal that I will enter the trade Then I identify support and resistance points Lastly, I determine the amount that I am going to risk on the trade After these steps are in place I then place the trade and log them in my forex trading journal.
Thank you for reading! Please leave a comment below if you have any questions about Forex Checklist! Also, please give this strategy a 5 star if you enjoyed it!
Jaap on June 27, at 8: Great point , always check for news events. Thanks for the comment Reply. Nisar Ali on June 27, at 8: Yes that is interesting, I will have to try that and see if I can add it to my own plan. Thomas Shawn on June 27, at 9: Thanks Thomas, I like the dead hours rule and the correlations, those can be helpful. Sifufx on June 28, at I really appreciate it. Sifufx on June 28, at 2: Hi Casey, Hope it helps a little atleast. Here is a little something on how to use pivots.
Allow sufficient preparation time before delivering the course to familiarise yourself with the training manual by reading the module plans, corresponding presentations and handouts.
Ensure that your knowledge is up to date by familiarising yourselves with the accompanying resources and guidelines, recommended reading and by visiting the websites detailed. Remember to look constantly for local examples, illustrations and statistics to update slides and expand on the materials provided. It needs to be comfortable and of a suitable size to accommodate and conduct both whole-group and small-group learning.
A service-based setting is not always the most appropriate if work demands interfere with the learning. Aim for an environment that provides opportunities for learning without distraction. The location should be readily accessible to participants. Specific consideration should be paid to the needs of participants with disabilities or special needs. You may need to give specific instructions relating to travel, parking and public transport. Ensure that toilets and any necessary catering facilities are available.
Always check that the equipment you need is available and working and that you have the materials listed at the beginning of each workshop. Ensure that all participants have been given the workshop outline and are aware of the learning objectives in advance of the workshop.
You may want to guide them to identified resources to assist them in preparing for the training module. Training PWID may require specific planning and discussions.
Double check those numbers! Speaking of risk, revise your risk-reward ratio. Is it wise to use leverage on this trade? If not, you might want to reconsider your strategy. Most traders agree stop-loss is a must in trading, but it will only help if you put your stop-loss at a logical level. At the same time, however, the level should be enough where stop-loss is able to do its job and manage your risk.
Are there any events taking place before or during the time you are planning to trade? Earnings reports, company announcements, and news tend to affect market conditions. In some cases, such events result in abrupt changes. Nonetheless, researching beforehand already puts you ahead of the game. It can also give you an idea of market volatility. Take a quick moment to assess your emotional state before entering a trade.
Is your mind clear, or are you feeling stressed out? Asking yourself these simple, quick questions can help prevent emotions from getting the best of you while you trade. Some traders write out their checklists, others type them up, and a number of them even laminate it.