This post is not a screenshot explaining an entry, it's just about most the important and basic rules of trading, which we ALWAYS have to remember.
Supply and Demand trading helps us to achieve this, no lagging indicators, no overloaded charts, just price action.
The text above is an extract of Zen in the Markets book... So simple, so clear!
Our left hemisphere (the rational side) does a great analysis most of the times once you have a sound trading plan, but the right hemisphere (the emotional side) is the one that will most likely pull the trigger.
What to do? What am I doing?
1. Trade live 3 hours a day, then turn MT off
2. Pre-plan all of your trades, never open an market execution order, your orders should always be limit orders
3. Set & forget versus Set & Regret. Set & forget all of your orders. Whatever happens happens
4. Don't modify your orders
5. Make sure you have a sound trading plan, you let your runners run and cut your losers quickly. A minimum 3:1 Risk/Reward is a good companion
6. Meditate, relax and disconnect. You don't know what the markets are going to do next
Have a nice weekend.
Supply and Demand trading helps us to achieve this, no lagging indicators, no overloaded charts, just price action.
QuoteDisliked1. Buy low, sell high
2. Let profits run, cut losses quickly
3. Add to a winning position, not a loser
4. Go with the trend
These rules look simple and are certainly easy to understand. So, why so many of us kill ourselves in the market? What makes it so difficult to follow these guidelines? The answer to this question contains the secret for our future success in forex. The problem lies not within the rules, but within ourselves as we apply these rules to our investments and trading decisions.
The text above is an extract of Zen in the Markets book... So simple, so clear!
Our left hemisphere (the rational side) does a great analysis most of the times once you have a sound trading plan, but the right hemisphere (the emotional side) is the one that will most likely pull the trigger.
What to do? What am I doing?
1. Trade live 3 hours a day, then turn MT off
2. Pre-plan all of your trades, never open an market execution order, your orders should always be limit orders
3. Set & forget versus Set & Regret. Set & forget all of your orders. Whatever happens happens
4. Don't modify your orders
5. Make sure you have a sound trading plan, you let your runners run and cut your losers quickly. A minimum 3:1 Risk/Reward is a good companion
6. Meditate, relax and disconnect. You don't know what the markets are going to do next
Have a nice weekend.
Set and Forget supply and demand trading community