- Identify where your stop loss should go
- Identify where your take profit should go.
- Identify if you will be using break even points at a certain profit level.
- Identify what your risk per a trade is
- Identify these parameters for each instrument you are trading
- 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.
- Keep pictures of your setups in front of you
- Keep a list of your trading rules in front of you
- Keep a list of your trade management rules in front of you
- Setup MT4 on your computer
Download MT4 on your computer :