A good component of a decent Trading plan is the Trading Routing. Trading Routing is a programme which details for the trader when he should and when he should not be in the market to trade. It allows the trader to know when he or she should prepare for trading, the activities that should be in the preparation process, when the actual trading takes place and what things to look out for to be able to trade profitably as well as consolidate on their strengths and correcting mistakes. Click to read more.
You need to prepare a Decent Trading Routing because this is the main challenge for many traders. When you do not understand how to do a particular thing, it becomes very difficult for you to even start doing it. This of course is one of the reasons many procrastinate. A Decent Trading Routing comprises of 3 key sub-components namely; Trading/Preparation stage, Market Watching/Trading stage and Evaluation stage.
Trading routine in forex trading: 3 basic sub-components of a trading routine: Preparation and thinking time (when you get up each day to prepare for each day’s trading activities). Events watching/trading time (when you would be in the market to watch and probably cash in on the trading opportunities you preview or analyzed earlier). Evaluation time (when to sit back and evaluate your trading day and activities: time to correct errors and mistakes and pick up new disciplines). The routine will help those whose jobs and businesses do not allow much time, to trade without jeopardizing their current business.