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The Six Stages of a Successful Trade

Ardy Ismail (Chief Currency Strate gist & Head Mentor) FOREXACHIEVERS F.A @forexachievers ad victoriam THE SIX STAGES OF A SUCCESSFUL TRADE Refect on the whole process and do it o stage by stage for maximum learning experience. Look out for worthwhile opportunity to take a trade. Look out for areas for Reflective Analytical Stage Process improvement in every stage. Learn from your trades. • Identify a level for entry with a good risk-reward ratio. Realizing the profits and rolling in the pips. Bring the Trading plan into existence. Exiting the Trading Plan Development Trade EXIT Closing the trade. • Adhere to your trading principles and guidelines. Trade management and monitoring. Trade Entry Trade • Execute the trade. Management A high probability trade entry with the aim of achieving optimum profits with a good risk to reward ratio. Minimize risk and o maximize profits. 4. Trade Management: 1. Analytical Sta ge: Manage the trade at this stage and absorb all market information that is Analyse the charts and base on your analysis, you would have identifed a trading opportunity. Make a decision whether you will take a trade or not. being presented to you right now through the chart. Adapt to the changing market environment while the trade that you have taken is still in play. 5. Exiting the Trade: The most pivotal stage of the whole trading journey. Profits are earned at this stage and your capital base increases for you to trade larger contract sizes or redeem the profits for 2. Trading Plan Development: After deciding that a trade will be taken, you will now have to reserve some time to cre ate a trading plan. A buy or sell order will now have to be executed when price hits a certain level, notwithstanding whether the trade will provide you with a profit or whether you will incur a loss. a better life. 6. Refective Process: 3. Trade Entry: At this stage, the trade would have been executed as the price that you have planned for your trade entry has been reached. The price that you have determined earlier for your trade to be entered has arrived. The Scrutinise the trade that you have entered andexited. Reflect on the trade and how it went andeven how it made you feel. Give yourself a mark for that trade on a scale of 1 to 10. Collate your marks and see your total score. Add up the marks from all the trades and divide it by the number of trades taken to get a mean number. trade could have either been entered upon the triggerof a market order or you would have entered the trade at the prevailing price in the market. by Ardy Ismail, Forexachievers: Forex Inner Circle @forexachievers https://www.

The Six Stages of a Successful Trade

shared by Arsalan_89 on Feb 11
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This infographic explains the six stages of a Successful forex trade.


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