Forex Market News
If the last 2 months of 2014 are anything to go by, 2015 is going to be a massive year for global financial markets. If you’re not ready and raring to go, then you’re only going to be chasing the bus or getting run over.
QE, rate cuts, rate rises, negative rates. Oil, gold, North Korea, Russia and the return of the big dollar…bring it on!
If you haven’t taken the time over the Xmas break to review your Trading Plan and Strategies, then now is the time.
What are you doing right, what are you doing poorly ? Where do you think the opportunities are and will be? How do you plan to make sure you capture those opportunities? Are you confident your Trading Plan will enable you to capture those opportunities? Do you know how to efficiently and effectively use your trading tools to identify those opportunities ?
If you don’t have the answers to these questions, then you need to get busy and do something about it. Otherwise, you’ll only have yourself to blame for being lazy and missing the opportunities when they come. Get pro-active and focused. A small amount of preparation and discipline can have substantial tangible results.
Keep it simple. Plan the trade, trade the plan!
Don’t focus on the cash and the results. Focus on the opportunities and making sure you capture them. If you do that, then the results will come.
There’s a number of Trading Axioms that you can use and include in your Trading Plan. You can read over them each day before you trade and have them printed out and placed around your trading desk!
- The trend is your friend
- Preserve your capital
- Do the smart trade, not the easy trade
- Plan the trade, trade the plan
- The market is always right
- Buy low, sell high
- Avoid fear and greed
– (Add whatever works for you!)
Other things you should consider are being in the right state of mind. Sometimes the smartest trade is to turn the computer off and stay away. Remember to be in control, be disciplined, patient yet hungry, and above all, enjoy your trading!
Good Luck !
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