HOW TO FIND YOUR TRADING STRENGTHS AND WEAKNESSES
Once you find your strengths and weaknesses in trading…
you can:
- Do more of what you are best at
- Do Less of what you do wrong
The first thing is to figure out your strengths and weaknesses
Your strengths and weaknesses should be easy to spot after you have made 20 trades and recorded the reason for the entry or exit of each trade on the TRADE TRACKER.
Check out this short video on how to use the TRADE TRACKER.
Go through the exercise of taking 20 trades. Find the groupings of the things you do well then concentrate on practicing those things you have determined to be strengths.
You will find that you don't have to work as much on correcting the things you do wrong if your are focused on your strengths.
Always focus on the direction you want to go. There is no need to concentrate on what you don’t want. You tend to get what you focus on.
Then make those strengths the core foundation of your trading.
After using the TRADE TRACKER and recording the results of 20 trades you will see why you take most trades and why you exit most trades. Do this exercise 4 or 5 times and you will see a true picture of your trading habits.
After each set of 20 trades make small adjustment as needed then repeat the process until you are comfortable with your entry and exit points.
Now you should work on becoming a mechanical trader. Consistently do what you do right and stop doing what you do wrong.
It is pretty easy once you know your trading habits.
Adjust your trading plan to reflect the way you trade when you are successful and follow the plan.
This is all part of finding out what your core strengths are and learning how to have your strengths work for you.
Check out www.forexstrategysecrets.com for more tips on effective trading.