What would you do differently today for better trading results?

This weekend was Easter, so I admit that I focused little on my trading and spend it with my family instead. Next weekend I’ll probably go back to analyzing my trades during the week.

During the weekend, I decided to trim down my Forex and Forum feeds because they were bringing me a lot of noise and distractions. So I felt the need to trim them down so that I can have some sanity and keep myself well-focused.

Trade safe and prosper.

Very much true; a key reason for this thread.

I agree. I firmly believe in the old saying that one should learn something new every day. As long as we live we should grow and develop, learning more about Forex is part of that process.

Truly, to be relevant and to keep in the path of success, continuous learning and improvement is key.

Trade safe and prosper.

I am pleased to say that I had closed my positions on Friday so the gap with which all the EUR currency pairs opened after the elections in France had no effect on my trading. I have learned that it’s better to wait out such events.

Here’s a video for thoughtful reflection. Let’s know what you learn from it that could enhance your trading.

Trade safe and prosper.

Very good! Is that an improvement to your trading strategy?

Trade safe an prosper.

I definitely consider my avoidance of trading news to be an improvement of my strategy, yes. I only trade news when I am very certain of the outcome, and that doesn’t happen often.

Learning is the key to become successful and not the book knowledge, we need to learn through Demo and later through small investments, it could change our trades.

Do you think Forex trading is difficult? Why?

I have always thought Forex trading was difficult until very much recently. Forex trading is very easy; what is difficult is succeeding in Forex trading. And here’s why:

It takes a load of hard work and mental effort to plan and prepare for consistent profitability; and much more mental and emotional effort to wait for the right time, price and location. Only very few traders can do this.

Trade safe and prosper.

Trading is an intellectual exercise to me. I don’t really regard is as easy or difficult. It requires my focus and my attention, as well as for me to be calm and disciplined.

Focus and attention, being calm and disciplined! Important concepts to employ in the trading business. Nevertheless, they are not easy to apply. Any body thinks differently? How important is staying focused (not being distracted by noises and other ‘gurus’ opinions, for example), together with being calm, patient and disciplined, central to consistent trading success?

I think it takes time to learn how to be disciplined. It does require an effort, but it’s hardly impossible to learn.

We all need to improve on our trading discipline and work at long-term, consistent trading success. Any trader who remains undisciplined leaves themselves open to failure.

Trade safe and prosper.

What approaches do you use to improve your discipline?

Improve on my market analysis, identify levels/zones to trade from, develop key rules for trade entry/setup and wait for the market to come to my levels/zones.

Trade safe and prosper.

What are you doing to improve and get better at market analysis? Share it with fellow forum members.

Trade safe and prosper.

Demo accounts have their place in trading success. For success in live accounts, demo accounts should be used for developing and mastering one or two functional trading systems/strategies and learning solid risk and capital management. What have you being doing to master one or two trading systems/strategies rather than system-jumping?

The only thing one can do is test it over and over again until they get used to using it to trade.