It is a well documented truth that within the “business” of trading the monetary markets, as a lot as 90 % with the participants shed and continue to lose money. So if 90 % are losing, that as a result indicates that 10% are gaining each and each time.

So that you can increase my personal buying and selling record, I deliberately set out to try and discover what it was I had to do to grow to be one of the 10% (The Winners) who are consistently creating cash from the unfortunate remaining 90%  (The Losers) who do not.

My research and investigations was to speak to as many successful traders as I could, to read as numerous articles, publications and books which have been created by successful traders. It wasn’t until I started my investigation, that I swiftly realised just how a lot may be and no doubt will carry on to become created about trading and also the psychology of trading. What is even more astounding is the amount that may be created by so called “gurus” who really haven’t produced any significant amounts of cash from a company that they are supposed to be experts in. I will tell you about some of my findings relating to these authors in future articles or blog posts.

It’s my intention to publish my findings inside a series of articles above the next 3 months and I hope you are able to discover and improve your own buying and selling from implementing the information which I release.

I personally trade the FOREX market now but I have tried trading stocks, futures, commodities and choices. I will probably be covering the reasons for concentrating on FOREX inside a later article but inside the meantime let me tell you about one of my many discoveries.

Each among the successful traders I interviewed, stressed the importance of keeping a journal of their trades. They would record the date, time, what they traded, acquire or sell, price, indicators used such as levels and/or figures, trends (lengthy, medium and short) and an overall description of why they took the trade. It absolutely was also imperative that the journal entry included notes in regards to the trade following the event. If it made funds what was the criteria, and if it absolutely was a losing trade, why had it turned out to become like this and any contributing factors.

Now comes the interesting part. Everybody of them stated that they on a regular basis reviewed their journal (some weekly and some monthly) but every person very categorically looked back over past trades. No doubt learning from their mistakes and to improve and repeat on their productive trades.

Buying and selling is extremely disciplined  with definite rules for entering and exiting trades. These guidelines should be adhered to at all times and among the principles is entering all details concerning the trade within the journal, creating no exceptions.

I hope you may all learn something from this and in case you aren’t already maintaining a record of your trades, then please start doing so from now on. Also on a regular basis go back more than your records on a normal basis. You will  see a marked improvement in your performance.

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