The next few blog post we`ll be noting the ten habits that we live by at Currency Traders Club to becoming a successful forex trader online. These are as follows:
1- Plan the trade, Trade the Plan
Successful currency traders online have a specific plan of attack for each position. This include size, entry point, stop-loss exit, and take-profit exit. No successful traders will last very long without a well-conceived game plan for each trade. Staying flexible with take profits, sometimes settling for less when we judge that. That`s all we can take out of the market at the moment, other times extending our profit targets if market developments are shifting in our favor. Never moving stop-loss orders from our original setting unless it`s in favor of the position to lock in profits is a habit of a Successful Forex Trader online.