Winning, Losing, and Setting Goals

It’s the end of another week, approximately an hour before then market closes. This has been a low-key week, for the most part. It started off well but became somewhat vague as the week wore on. When there were trades to be made, you had to just get into it(not before thorough analysis!) and take a profit before experiencing a pullback(when the move changes direction). I did not trade every day but I did not lose on any of my trades, which I am happy about. It is better to lose out on a trade than lose money. Remember that. Also, unless you feel absolutely confident about what you are wanting to trade, you should not invest your money in that position. You have to do your thorough analysis, be able to see with your eyes and confirm that your assessment is correct, then with undoubted assurance you will enter into your position. You can hardly go wrong with this! From time to time, we all lose on a trade, but never let it get you down. Pick yourself up and try again, you are bound to succeed. When you keep the losses to a minimum and most(80-90%) of your trades are winners, then you know you’re in business! 😀

It is always a good idea to set goals for yourself. Set your daily, weekly, monthly, yearly goals. How much money do you want to earn per day? Per week? Per month? What do you want to accomplish in a  year? 5 years? Write them all down and stick to it. Without goals, you will just be going around in circles, like a dog chasing its tail.

So, next week…we’re looking for big moves and big profits, right? Yes we are! All the currency pairs have been moving sideways for the past few weeks, it should really being trending(cross your fingers!) soon. Hopefully the US stimulus bill will prove itself extremely useful in the coming months.

Have a great weekend! 😀

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