The Beta2 Lane Clark blog is all about the practicalities of Forex trading and we believe that if you are not moving, you are standing still. Learn to be fluid and never limit yourself to one style. If a trade has passed you by, plenty more will be available. If the markets are behaving in an irrational manner, or it appears too volatile to trade, learn to roll with the punches. Choose positions that will withstand the initial volatility, don’t just exit because it gets to choppy.
If you do exit, stay out as when in doubt…the worse thing you can do is to jump back in if you are uncertain.
Monday 9 May 2011
Wednesday 4 May 2011
Forex Trading Psychology - Review your trades and note your progress
At Beta2 we know that analysis, review and refinement in Forex trading is essential.
The more you see that high quality trade setups combined with proper focus leads to good trading, the more you will believe in yourself and your abilities to trade and the less you will allow other things to cause you to hesitate. Carrying out regular reviews takes commitment and a daily routine. Working with a trade journal is the best way to analyse both your trades and your performance as a trader, and to make improvements in both.
The more you see that high quality trade setups combined with proper focus leads to good trading, the more you will believe in yourself and your abilities to trade and the less you will allow other things to cause you to hesitate. Carrying out regular reviews takes commitment and a daily routine. Working with a trade journal is the best way to analyse both your trades and your performance as a trader, and to make improvements in both.
Monday 2 May 2011
Forex Trading Psychology - Focus on the process of making the trade
The Lane Clark Beta2 blog is all about dealing with the challenges of making Forex trade decisions and then executing.
Once you have recognized that your trade has set up, concentrate on the process of taking the trade. Let your mind say what it will (it will anyway) but focus your attention on making the trade. Focus on what the market (and not the mind) is telling you and take the appropriate action.
Keep your focus on what the market is telling you, not your mind. If you find this difficult, work to develop your focus and concentration. Mindfulness exercises can be a big help in this regard.
Once you have recognized that your trade has set up, concentrate on the process of taking the trade. Let your mind say what it will (it will anyway) but focus your attention on making the trade. Focus on what the market (and not the mind) is telling you and take the appropriate action.
Keep your focus on what the market is telling you, not your mind. If you find this difficult, work to develop your focus and concentration. Mindfulness exercises can be a big help in this regard.
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