Mindset #16 - Simple Forex Trading Checklist
GOOD MORNING STEEMIT!
It's Monday morning in Sydney and I'm stoked to get back into it!
I'm sure if you're reading this from your crappy job in Australia or dreading going tomorrow in the US and Europe then you wish you could feel anything other than what you feel now.
One of the advantage of being a trader is that you actually look forward to Monday mornings. Not many other jobs can say that, but speak to almost any trader on the weekend and all they want is for that Monday morning market open to hit.
There's always money to be made in markets. Take advantage of the opportunity!
...speaking of opportunity. Before I get into the checklist, is anyone else watching IOTA/USD after my Friday Altcoin in Focus: IOTA - IOT/USD blog post?
I want it to pull back anywhere near the 50c level and I'm going to be all over it like a rash. I am actually burning (I hope you're seeing the imagery that I'm trying to create here) that I'm not on yet.
- Continues sobbing softly into my pillow.
Well I at least hope some of you were intelligent enough to identify momentum and smash the buy button!
Fuck.
Simple Forex Trading Checklist
This is a quick Monday morning trading checklist designed for Twitter that I've brought over to Steemit in order to stimulate some discussion around the points.
Know myself.
Make sure you’re physically and psychologically at your peak. If you’re not at 100% then don’t trade.
Glance at the economic calendar.
Any big news releases upcoming? Depending on style, this helps you avoid or find markets in play.
Check the US Dollar Index & Gold.
Always have a directional or momentum bias on these two major risk on/risk off indicating markets.
Flick through my higher time frame charts.
This is where you find markets and levels that are in play. Only trade in the direction of these levels holding or breaking out.
Zoom into my intraday charts.
This is where you find your good risk:reward trade entries on short term pullbacks. Used in conjunction with higher time frames.
Actively manage my positions.
Managing or stepping away depends on your personality and discipline as a trader. Each to their own here.
Start a conversation with a quality comment and get upvoted for your work. Please at least try to mask your spam as a real contribution around this particular blog.
Peace!
The @forexbrokr Mindset Series
Mindset #11 - Do you Write Lists? How OCD are you?
Mindset #12 - The Evolution of an Entrepreneurial Idea
Mindset #13 - 3 Reasons that Entrepreneurs Fail
Mindset #14 - 6 Traits of Highly Successful Traders
Mindset #15 - 6 Ways to Stay Motivated as an Entrepreneur
Instagram: @forexbrokr
Website: www.forexbrokr.com
i upvoted your post plz upvote me back !!
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I'll be having a look and staying in contact. Good informational post about trading.
Thank you senor. See you around.