trading skills and bring you more consistent profits. You learn to understand and cope with the fact that despite having a 50 percent chance of being right, that 50 percent can creep up and hurt a perfect play setup. Chess players know they cannot control their opponents move, all they can do is react accordingly. While starting from scratch might seem easy, sticking to your plan and the tools available can give you better rewards in the long run. Recommended Article: Forex Parabolic MultiTimeFrame Trading System With TMA Slope Custom Indicator Doing this on Sunday has multiple benefits: since you completely split up the trade analysis and the trade entry, you wont be tempted to enter trades and spend more time on proper analysis. Review your trading week, the first thing I do as the weekend begins is to review the past week. What is there left to do? Now, with the market being an uncertain entity this is easier said than done, but a good Forex trader makes his moves with a predisposition for future developments. Am I triggering trades too soo, suffering from fear of missing out? I recommend you to trade following a trend, against the trend will make you very risky trade.
No matter what, learning and improving your knowledge of trading can be helpful in the long term. This new idea might sound like a good idea, but unless Ive tested it, Im not going to trade. Actually, theres plenty to do in weekends if you want to sharpen your forex skills! Having a quarterly review of your progress can tell you where you need to improve or whether you need to step up to the game. If you have been putting off serious trading, what better time than now to become more focused to improve your trading skills. Always look at the current trend. #3: Chess Improves Decision Making, a good chess player is analytical, and understands that with each step the field changes, and he needs to continuously reassess his positions, so he can play opportunistically.