Solve Forex trading programming problems in an effective way
Now if we discover a problem with the programming of these forex trades where they’ve made 40 trades now, someone can say they can look at the number and say well they know they’re supposed to get $50 and they’re only making $40, well, we have to confirm whether This one had a skill issue and I’ll be putting it back into circulation, so stay tuned and read on.
Solve Forex trading programming problems in an effective way
Pay attention. Does this person have skill or will? Okay, so we go to a forex trader and say hey, I noticed you’re doing 40 forex trades instead of 50, what’s going on okay, I think we were only supposed to do 40 forex trades, yeah, I’m supposed to be 50, I wasn’t I know that.
I have fixed the forex trader now, it was a knowledge gap, it was a skill, I thought she was doing the right thing she was doing, no wonder she was doing 40 every year. A booming month, so now let’s reverse that and say we come to a forex trader and say hey forex trader, last month you set your goal of making 50 forex trades per month but you only did 25 forex trades from what happened.
Dealing with the knowledge gap in Forex trading
Forex trader started making excuses to us, oh, I’ve got this going on and I’m not saying that’s the thing I’m not saying as a sales coach that life is not life, but when we come here we know that we’ve got to do what we’ve got to do, we’ve got to We stop working abroad if we don’t, we won’t succeed, that’s their rule.
So don’t bring drama from us, I get it, it’s like you want me to be a robot, no, we just understand that this is a workplace and we have to maintain a high level of importance, so a forex trader comes in and she just makes 25 forex trades.
The ability to perform a specific task within your Forex trading skill level
As a forex coach I may have to put her on corrective action if I decide she is doing something within her skill level, well the ability to do a certain task is within her skill level, she’s not doing that, so it’s a problem in the wheel now let’s compare that to trading.
So let’s say for example okay, I’ll give you one of the things we’re going to do go to our 10 reasons, okay, one of the first reasons I would say is not having a trading plan, so you’ve decided well as a trader you know you don’t have a forex trading plan.
Our first problem is the lack of a Forex trading plan
We may not be able to go through all of them because I only wanted this article to be about 15 minutes but we will see a huge lack of trading plan Do you know how to create a trading plan skill or will or do you are just saying I don’t want to create a trading plan, I just want To see what happens and so if you’re not profitable by looking at what are the reasons that you can pinpoint as to why you’re doing that probably the number one reason is that you don’t have a trading plan.
The answer is always with us, so create a very simple trading plan, it’s like we’re trying to complicate it uh, so the number one reason not to have a trading plan is to create trading and make simple details of your goals now, keep in mind that your plan will change over time.
The trading plan I had in 2017 is very different from the trading plan I had in 2017. I’ve been fine now for seven years in the other thing I noticed. What I was doing was trading, well, I’ve just fallen into the market and I want to get involved in it, I was learning and I thought this is it, it was just trading.
Set what I will do to how many trades I can do in Forex
One of the things that I did was simply I would set what I would do set a limit on the number of trades that I could do in a week, and then I would do that as well, there was one time when I was doing a rating system where I would take all the trades that I would take and my weekly analysis would take All the trades that fall under this guideline and I’m going to go through them and say okay, I’m going to rank them by all the things that I say make a good forex trade.
I’m going to make a scoring system for that this extra star system because the XYZ boom is moving forward in priorities so now I’m not trying to trade forex with everything I’ve seen I’m just prioritizing the highly profitable opportunities so there’s another reason why I’m not profitable and remember that’s me using myself like this So you don’t feel persecuted.
The idea of ignoring destructive Forex trading risk management
A lot of traders think they’re alone or they think the problems they’re having are the only ones who’ve had them, so the idea of ignoring risk management now I was lucky when I first started trading Forex and I had a very structured format for learning risk management.
Now the problem was that as my knowledge evolved I realized that the basic risk management strategy had to evolve because every market is different so with that being said, make sure you have in your plan some way to limit your risk based on a percentage of your account.
Summary
I think limiting risk to a percentage of your account is better mentally because sometimes we realize that we become obsessed with the dollar or peso or whatever currency your account uses, so ignoring risk management is one of the reasons it took me so long to make a profit in Forex.