In the army we had the six P’s drilled into us.
Prior Preparation Prevents P*** Poor Performance.
(Soldiers are nothing if not crude)
We learned that it’s the planning done beforehand that produces results in an uncertain environment. If we fail to prepare, when it’s time for action, the limbic system hijacks our thought processes and we end up as toast.
Now is the time to prepare for the year ahead, by doing these significantly important things.
Remember, the better the groundwork the better the results. Simple as that.
- Write down clear rules for your trading system:
- Treat your trading like a business:
- Keep detailed records of your trades:
- Set clear objectives for you to trade towards (action without objectives won’t get you to where you want to be):
- Collect your trading beliefs and principles in one place:
All the best for your trading in 2016.
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders (get free access). He is the owner of www.fxrenew.com a provider of Forex signals from ex-bank and hedge fund traders (get a free trial). If you like Sam’s writing you can subscribe to his newsletter.
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