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THE 6 STAGES OF SUCCESSFUL TRADE

#1 ANALYTICAL STAGE

  • Analyse the CHART.
  • Look out the worthwhile OPPORTUNITY to take a trade
  • Identify the LEVEL of entry with a good risk reward ratio

#2 TRADING PLAN DEVELOPMENT

  • Create a trading PLAN.
  • A Buy or Sell ORDER will now be executed.
  • Bring the TRADING PLAN into existance.
  • Adhere to your trading principles.

#3 TRADE ENTRY

  • EXECUTE the trade.
  • A high probabilty trade entry with the aim of achieving optimal profits with good risk to reward ratio.

#4 TRADE MANAGEMENT

  • MONITOR the trade.
  • Absorb all the market information that is being presented in the chart.
  • Minimize the risk and Maximize the profits.

#5 EXIT THE TRADE

  • Releasing the Profits and rolling in the pips.
  • Closing the trade.

#6 REFLECTIVE PROCESS

  • Reflect the whole process.
  • Reflect it stage by stage for maximum learning experience.
  • Look out for area of improvement.
  • Learn from your trade.
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