1. Identify where your stop loss should go
  2. Identify where your take profit should go.
  3. Identify if you will be using break even points at a certain profit level.
  4. Identify what your risk per a trade is
  5. Identify these parameters for each instrument you are trading
  6. Make sure the trade management you are using has worked in the past.

Set Up A Trade Station

A trade station is a dedicated space to take trades. A gym is a place you workout. A trade station is a place you trade. It is ideally distraction free and enhances your operating basis.

  1. Keep pictures of your setups in front of you
  2. Keep a list of your trading rules in front of you
  3. Keep a list of your trade management rules in front of you
  4. Setup MT4 on your computer

Download MT4 on your computer :