THE 6 STAGES OF SUCCESSFUL TRADE
#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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