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A typical conversation with a ‚Wannabee’ pro trader goes like this:
Me: Soooo, what’re you doing?
Wannabee: I’m gambling on forex ????
Hahaha… no.
This statement is apparently innocent and most Wannabees tell it as some sort of a joke, but the truth is – it’s a dangerous one. Do you know why? Because it shapes your actions. Yes, the way you think and talk about yourself shapes your actions.Have you ever talked to a professional trader? If you ask one what does he do on forex, he will tell you:I’m making money.Notice the difference? He is totally aware of the risk and he knows he’s gonna lose some money in the process, but, he still states that he earns money. You will never hear him calling himself a loser.There’s a reason to why professional traders make money on Forex – experience, good trading methodology, good risk management etc, etc. But there’s also one factor that usually slips away unnoticed.
Have you ever talked to a professional trader? If you ask one what does he do on forex, he will tell you:
I’m making money.
Notice the difference? He is totally aware of the risk and he knows he’s gonna lose some money in the process, but, he still states that he earns money. You will…
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gargantua avatar
gargantua 21 Apr.

very interesting

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12/26
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You should keep a trading journal of every trade you make! Backtest every system for at least 1,000 trades! Brush your teeth before bed!
All of this is sound advice. However, how many traders actuallyfollow this advice? Do you? I would bet that less then a third of you reading this article keep a trading journal. Don’t get me wrong, I’m not special. I didn’t keep a record of my trades during the first few years of my trading career. This changed one year ago. Here are the tips that helped me to finally create this habit. These rules are not specific to trading and can be used to build any habit in any area of your life!
The 1 Minute Rule

How do we get on the path of building a habit? This is where the 1 minute rule comes in! If your goal is to keep a trading journal, at
the end of every trading day, take one minute and write down your trades. Even simpler, at the close of trading just write down 1 sentence. This could be your best or worst trade of the day, your trading mood, or a combination of both. Here’s an example:
‘’May22nd: I took a signal where there wasn’t any and I proceeded to lose$400 as the AUD/USD moved against my position’’

Based on a true story. Okay it IS a true …
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Elani avatar
Elani 9 June

Very useful article!

FxMidaso avatar
FxMidaso 10 June

Useful article. I have the same problem, I anticipate a signal and then make a trade only to realize that the signal didn't come and i have lost trade. hmm....

fxsurprise8 avatar

Thank you kind sir and madam :)

Olga18375 avatar
Olga18375 21 June

wow! very interesting article!!! well done!!

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