Happy Christmas – Taking Stock and Next Steps

Happy Christmas from Forex Trading London

Happy Christmas from Forex Trading London

Firstly my very best wishes to you at this Christmas time and thank you for reading my Blog posts.  As the trading year draws to a close, it is a good time to take stock and analyse how you have done, what you have achieved and what could be improved upon in the coming year.  If you can spend some time reflecting on your trading year you should be able to:

  • Highlight your strengths and weaknesses
  • Then review and if necessary update your Trading Plan
  • Draw up some ideas of where you would like to be as a trader at the end of 2014
  • Then make a Plan as to how you will achieve those ideas
  • Break the plan down into achievable bite size chunks
  • Consider how you will address each chunk
  • Then take that Plan into the New Year and try your utmost to make it reality.

Do watch out for my first post of the New Year with some tips and hints on how to turn your Plan into Reality.  Happy Christmas and I bet Santa has a Plan!

Top Trading Tip:  Always have a Plan, both a Trading Plan covering the whole of your trading endeavours and also a specific Trade Plan for every trade you take.  A plan can always be improved and amended, but without one it is easy to be a ‘startled Rabbit in Headlights’ when something unexpected occurs.  As I have often said and written, Prior Preparation Prevents Poor Performance (The 5Ps)