Wednesday 27 April 2011

Forex Trading Psychology - Know your trade setups

At Beta 2 we specialise in Forex trading and we know that defining the exact criteria for your trade setups will ensure that you have little room to question whether or not they have indeed been set up. In short, be very specific about the criteria you want to see.

You should have already researched your trades and know precisely what a choice setup looks like. Train hard to learn how your setups unfold on your charts and come into the market well-prepared, knowing not only your trade setups but also where they are likely to show up.

Anticipating likely areas (e.g., support & resistance levels) where your trades will set up gives you an advantage, you are ahead of the market, and this will help curb your doubts.

In short “Set your criteria” for Forex trades, suggests Lane Clark, Beta2 CEO.