Being organised is very important to achieve success in the forex market. And consistency can always keep you organised.
Being organized helps you to be calm and positive
Being organised can help the trader to be more efficient and productive during his trading hours. Maintaining a trading journal, reviewing it frequently, maintaining a weekly analysis, staying updated on the news, reviewing the price movement through RSI, and planning trades from beforehand can help you be more organised, and increase your focus, and make profits.
There would be many discrepancies and problems, such as a lack of management, if the trading structure is not properly organized. Simply organizing and planning everything ahead of time can help one avoid all of these problems.
When a trader has a clear path to control their trading and how to go in that direction using the right tools and strategies, we can call that trader an organised trader. But when a trader is not like that, they are not organised, and they fall prey to huge losses. That is why it is crucial for traders to be organised while trading forex.
Having a daily routine can surely make a positive difference to our lives. It will save you a lot of time and you will be less stressed. This applies to forex trading as well. Being organised and being a planner can surely help you a lot to become a consistently profitable trader.
Nicely explained. The importance of being organised is surely underrated. Maybe we just need to be organised and half or our problems will be solved. This is what makes a difference between a beginner and successful trader.
Being a trader, I look at my trading journal before placing each trade to figure out how much risk I should be taking based on my trading plan.
OP really looks like a disciplined person and this is essential when you are a trader. Having a routine and day planned in advance will save you a lot of time and energy in my opinion. You won’t waste much time and it will be a lot less trouble. Being organised is the best thing you can do to attain success in any area of life and this applies to forex trading as well.
Traders should focus on creating a roadmap for their trading journey. Everything they do should be relevant to this road map. Every action should be intentional and aimed at achieving the goal you have set. Being organized in small ways plays a major role in trading journey.
Being disciplined makes one successful in forex. Having a routine and sticking to that routine helps to achieve goals quickly and efficiently.
It helps not just in trading but in real life too
As a trader, being organised is a key ability. For both physical and mental aspects, it can increase productivity and attention during trading.
In my opinion, I think, an organized person is naturally inclined to practice habits that promote productivity, tidiness, and structure. A person will keep things in order and in the right place by employing strategy and thoughtfulness.
It’s important to be organised, it improved both of my physical and mental aspects of productivity and focus during a trading day.
Being organised helps traders to maintain discipline while trading.
It’s important to be organised, especially if you’re a forex trader. Both the physical and mental components of productivity and concentration can be improved during a trade day. Being organised might encourage a more upbeat and concentrated state of mind as opposed to seeing clutter and feeling distracted. The ability to keep things organised, maintained, and categorised helps promote a positive attitude and improve trade performance.
Creating a schedule is a great way to be organized especially for part-time traders as we juggle multiple things in a day. But I think it’s only helpful when you have a specific goal that you want to achieve by end of the day.
When you don’t know what you are setting out to accomplish, you can never stay focussed.
So, what really works for me is: Having a specific and attainable goal even if it’s as small as making $50 in a day.
Gives me clarity and helps me stay focussed.
The organisational skill which has most helped me in my life and in my trading is time management.
I was taught this using the basic principles of Stephen Covey (?). All tasks are either Urgent or Important or both or neither. This tells you what to do and when -
- Urgent and Important - Do it
- Urgent but not Important - Delegate it
- Important but not Urgent - Defer it
- Not urgent and not Important - Dump it
My life was happier from that day onwards.
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I have that book. I have yet to read it. How ironic.
I’ve been focused on reading financial books. Too bad I can’t delegate reading it.
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