What to do during and after the trades
September 7, 2017 at 8:45 pm #1160
It is a question of many traders what to do during and after the trades. We are not discussing the before parts of trading as you all know it. Before you are going to place trades in this financial market. You will have to know the market news, check the market trend and also analysis the market. If everything is good for you, you can place a trade with proper money management. The most important part begins when traders have placed their trades in Forex. They cannot withdraw their trades neither they can change the entry price.
There are only two fixed outcomes in Forex sector after placing trades. One is to make profit and other is to lose money. As this market is volatile, the second outcome is most common for the traders. In the Australia, most of the new traders do many things during and after the trade. They analyze the market over and over again and make things very complex. But the trading system needs to be extremely simple and easy. In this article, we are going to tell you how you can improve your trading outcome when you have placed your trades.
During your trades
After you have placed trades in the market, do not wait for something magical to happen. Hercules will not come out of the screen and you can stop looking into it. Many traders believe they can change the outcome when they are staring at the screen with a hope that the trend will change to their favor. During your trades, do not do anything. Just simply sit on your chair. You cannot undo your trade and wait for the market to crash and get back your trades. Patiently wait for the market to give you an outcome. If you have correctly analyzed the market, you will get a profit. If you do not, you will make a loss. There is no point of changing the stop loss and take profit level over and over again. If you know the perfect way to analyze the market then you should have confidence in you that your trades will hit the potential take profit level. However, if it goes wrong then there is no to worry. Focus on the market trend and wait patiently for the next possible opportunity.
After your trades
As we said earlier, there are only two outcomes of your trades and you need to set your plan according to your trading results. We would like to think that you have won the trades. You are in a good mood and want to make money again. This is where you need to get a hold onto yourself. You are going to make mistake if you trade the market again with the same strategy. The market has changed and you need to analyze it again. If you feel tempted by the volatility of the market then use demo trading account Australia to resist your urge. Trade the market with your virtual dollar as long as you want and no one is going to stop you.
If you have lost the trades, you need to analyze where you have done wrong. Was it your strategy or you trade against the market? Check your trades and make your trades better to make a profit. Do not place trades if you have not completed your analysis of your trades. Consider the losing trade as a business cost and focus on your development. Develop a strong reading habit as gaining knowledge increases the chance of winning trades during the hard trading session.
You must be logged in to reply to this topic.