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7 Tips to Maximize Trading Performance

Maximize Forex PerformanceWe all know how important it is to find our edge in the markets. Finding an edge could take months even years but once we have acquired such an edge, it is not the end and expecting windfall profits could only be a dream which is as good as wishful thinking. The next step is to work on yourself and develop the right mindset. Here are some tips that can help you Maximise Trading Performance:

1. Focus on implementing your trading plan perfectly for every trade

2. Focus on long term gains For ex. Weekly or Monthly gains as opposed to results of individual trades

3. Track and analyse performance to closest minute detail

4. Evaluate your actions and make changes on regular basis

5. Keep a positive frame of mind

6. Avoid any conversations or thoughts that instil doubts about your ability as a trader

7. Be a teacher, help others maximise their performance, which in turn will maximise your own

To find a systematic method that can help you avoid emotions and discretionary judgement is just the first step. I can’t emphasise enough how important is to then develop the right mindset. Hopefully the tips above help. What do you do to Maximise Trading Performance?

EURUSD Correction To Continue

EURUSD Market Outlook

Last week we expected Euro to continue the bullish correction. EURUSD rose 2% last week, credit goes to reports of improvement in talks between Greece and creditors along with better than expected bond auctions from Spain and France.

Though this rally may not last much longer but we could very well try to ride it while it last.

Let’s quickly look at EURUSD daily chart:

Daily Signals (click to enlarge)

EURUSD broke above the trendline on daily chart and came back down to retest on Friday. We can clearly see that price bounced off from the trendline after retest which is a good sign that market is also monitoring the same trendline as us. This week we can expect price to continue moving up towards the next Resistance level at 1.3080 – 1.3100

Forex Signals

Keep in mind the holiday in China and other Asian countries as they celebrate beginning of New Year. I won’t be surprised if we see thin markets for a day or two.

Forex Trading Signal : Look for opportunities to go long until 1.3100, once price gets there we can expect a small reversal. We will then wait for clear Breakout above 1.3100 before taking any long trades.

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