THE 6 STAGES OF SUCCESSFUL TRADE

May 12, 2018

 

 

#1 ANALYTICAL STAGE

  • Analyse the CHART.

  • Look out the worthwhile OPPORTUNITY to take a trade

  • Identify the LEVEL of entry with a good risk reward ratio

#2 TRADING PLAN DEVELOPMENT

  • Create a trading PLAN.

  • A Buy or Sell ORDER will now be executed.

  • Bring the TRADING PLAN into existance.

  • Adhere to your trading principles.

#3 TRADE ENTRY

  • EXECUTE the trade.

  • A high probabilty trade entry with the aim of achieving optimal profits with good risk to reward ratio.

#4 TRADE MANAGEMENT

  • MONITOR the trade.

  • Absorb all the market information that is being presented in the chart.

  • Minimize the risk and Maximize the profits.

#5 EXIT THE TRADE

  • Releasing the Profits and rolling in the pips.

  • Closing the trade.

#6 REFLECTIVE PROCESS

  • Reflect the whole process.

  • Reflect it stage by stage for maximum learning experience.

  • Look out for area of improvement.

  • Learn from your trade.

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