Top 10 New Years Forex Trading Resolutions

As we start a new year, now is the time to contemplate how we can improve our trading results. Below are the top 10 New Year's Resolutions Forex traders can include in their goals that can help them in their quest to dominate the forex market in 2008.

1. Resolve to simplify your forex trading strategy and stick with it.
2. Resolve to always enter a trade based on a specific plan that is part of your core forex trading strategy.
3. Resolve to analyze the performance of your forex trading tools. This includes your forex broker, platform, and signal provider. This assessment should be done on at least an annual basis.
   
4. Resolve to carefully plan your exit points as well as you do your entry points for all your forex trades.
5. Resolve to remove emotion from your currency trades. Only execute the trade after you've done your homework and the trade makes sense based on your forex trading strategy. Let the forex strategy guide your trigger points and eliminate second-guessing.
   
6. Resolve to trade the forex market only after careful analysis and research.
7. Resolve to protect your profits. Protect those pips! Don't be afraid to take profits off the table. Remember to pay attention to the pip spread. Is too frequent trading affecting your results and your profit?
8. Resolve to analyze your forex trading results on a periodic basis.
   
9. Resolve to invest in yourself by continuing your forex education and training.
10. Last, resolve to get some sleep! Just because the forex market is a 24-hour market does not mean you have to trade all of them. A better performing forex trader is a rested forex trader.

Happy New Year and happy forex trading and investing!

For more information about forex trading for novice to advanced forex traders, check out Forex Trading Essentials, a website containing forex tools, forex broker info, currency charts, trading systems.


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