Plan your trade, and make it a routine!
The activity of trading merely means order execution. It is a one-minute task. But the ‘decision-making part that precedes the order execution is the critical part.
Here are the 5 AMAZING pre-trade routines that bring all the necessary information to your table.
👉 Setup Your Chart
• Eliminates redundant process
• Creates a sense of urgency
• Reduces impulsive trading ideas
👉 Usage of Templates
• Organizes charts within the profiles
• Provides broader market analysis
• Don't miss out on price moves
👉 Watch Out for Economic Releases
• Check news daily
• Start your day by visiting the economic calendar
• Keep an eye for watch lists, charts, position size
👉 Plan your Trade
• Go over your basic setups
• Check for market conditions required for trading
• Lays out criteria before making a decision
👉Take a Second Opinion
• Remember, no technique is fool-proof
• Renders a different perspective
• Ask around for a better output
Do you follow a different pre-trade routine? Let us know in the comments 💬 below.
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Posted On: 24 Nov 2022 11:00 PM