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Daily Analysis: Trading Manual Part 7

morning trading

Daily analysis of the Market

As a professional trader, your trading routine starts as soon as you wake up. You will
check the current market status, and the price movement overnight. This shows you
what happened to any open positions overnight. You may have to adjust your stop
losses or your stop loss may even been hit. But it’s also perfectly possible that your
take profit has been hit while you were sleeping.

The essential part is to register any stops or take profits in your free trading journal
which is included with this course! This is what most amateur traders forget to do, or
simply don’t want to do. However, this is exactly what separate the amateurs from
the professionals. Your trading journey can only be seen over a long period of time,
therefore it is essential you update your journal regular to see your growth.

We strongly advise you to take screenshots of all your trade set-ups as. This will help
you to analyse what went wrong and what went right when a trade played out. It will
surely help you to improve your trading routine, which will give you the opportunity
to spot high potential trade set ups in a short period of time.

Professional trader tips

As a professional trader you will only be trading a selected amount of currency pairs.
Trading a wide range of currency pairs will only bring you extra risk. We’ve proven
that a professional trader who is focussing on a selected amount of currency pairs,
was able to achieve much more profit than a messy trader who was trading tons of
currency pairs. It is simply more efficient, and you will see that your analysis become
“much more effective; This normally leads to success and profitability within the Forex

morning financial news

The essential part of the development from a trading routine, will be checking the
markets on certain times during the day. You will need to treat trading as you would
do when you have your own business. You can’t see trading as a fun game you play
when you have some time off, as this will certainly not bring you any profits on the
long term. As a professional trader you will be monitoring at the beginning of the
main trading sessions as the London session and/or the New York/European session.
It depends on which one comes first in your specific time zone.

The overall thing we trying to explain here, is that a professional trader has pre-
defined trading times. Besides that, they master their trading strategy perfectly, and
they know the importance of trading only a handful of assets which suits them. This
ultimately allows them to have a decent trading routine, which make them
understand that Less=More in the market.


Next part of the trading manual releasing soon!!!

Check out our Selection list of Brokers: Top Brokers 2018

Avoid the scam! check out this list before choosing a broker!: Scam Brokers List

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