Preplanning and setting goals will help you develop an organized trading approach and help you become a more polished trader. Trading is an art, and the only way to improve your skills is to practice consistently and systematically.
A Methodology That Is Consistent!
Before you enter any market as a trader, you need have a rough notion of how you'll make trade execution decisions. You must understand what information you will require in order to make an informed decision about whether to enter or exit a transaction.
To choose the optimal moment to execute the trade, some people look at the underlying fundamentals of the economy as well as a chart. Others rely solely on statistical analysis.
Here’s how to do it:
Whatever methodology you use, be consistent and make sure it's adaptable. Your system should be able to adapt to shifting market circumstances.