Day Trading Forex: How To Stop Impulsive Trades Before They Occur
In this Q&A #7, I discuss the topic of impulsive trades, especially for people who are day trading Forex. In addition, I go through the 3 questions I ask myself weekly to identify the problem I face in my trading, and how to overcome them. That has made an immense difference.
The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast.
This episode ends with a quick discussion on trading beliefs. Those can either make you broke or rich. Therefore, I suggest you spend some time evaluating your beliefs. A good way to start would be to listen to my interview with Dr. Van Tharp as he describes the belief examination process he makes his students go through.
In This Episode, You'll Learn…
- What are impulsive trades
- The simple question that will keep you out of bad trades
- The 3 questions to evaluate your progress & get consistent profits faster
- Why your beliefs can make you a broke trader – and how to change that!
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The magic question: When I'll review this trade, will I be proud of having entered it? Share on XWhat is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!
Resources Mentioned
DesireToTRADE’s Top Resources
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist
- One-Page Trading Plan (free template)
- DesireToTRADE Academy (lifetime membership promo until Dec. 18th 2016!)
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