How To Become A Better Forex Trader
August 1st, 2017: In this Montreal Forex trading vlog, I discuss how to become a better Forex trader. This is something a lot of new traders want to learn about. Vlog #156.
Unfortunately, becoming the best trader in the market can't and will never happen overnight. The idea behind how to become a better Forex trader is to pick ONE thing to work on first.
Here are the categories I suggest you rank yourself on (ideally in a notebook):
- Execution
- Planning/Trading Strategy
- Money Management
For instance, at the time of publishing this video, my #1 challenge is improving my execution so that I can increase my professional trading activities (trading for other people).
The one thing I do, almost on a daily basis, is backtesting on various currency pairs to improve my primary trading strategy.
Recommended interviews on money management:
- Brent Penfold: The Universal Principles Of Successful Trading
- Michael Toma: The Mastery Of Risk Management In Trading
- Michael Toma (2nd interview): Expert In Risk Management & Futures Trader
You should always have one part of trading that you are working on as well as one action step that you intend to do in order to move forward. That is the only way to consistently become a better Forex trader.
Subscribe on Youtube (daily video at 7:00am EST)
Join the Facebook Forex Trading Group
Music
Dyalla – So Bad – https://youtu.be/YIx-PeA7y5E
DJ Quads – Show Me – https://youtu.be/QnB9nGEr3KM
About Me
My name is Etienne Crete (from Montreal, Canada). I’m a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
What you must know: I’m all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast in the hope that I can help you become a better Forex trader. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That’s why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you’re good at.
Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
Products Used In This Video
- Camera: Sony a5000
- Tripod: Joby GorillaPod
- Editing: Final Cut Pro (Mac)
