EURUSDIt reached my support for a second time,so im hoping it rejects it again to shoot up to my resistance area ,swing trade
Process_outcome
MY MORNING TRADING ROUTINE - Steps I take before I tradeComplete Routine:
06:30: Wake up – My Morning Routine Starts
I just get right up and start my day. Don’t hit the snooze button!
06:40: What’s My Daily Report Card Goal?
Each day my trading journal includes a specific goal that particular trading session, concrete actions that I’ll take to achieve that goal, and self-evaluation at the end of trading to gauge my success in reaching that goal.
The idea is to never trade without consciously working on some aspect of my trading.
06:50: Risk Control Process
I define the risk for the day :
Position sizing guidelines
Per-trade loss limits
Per-trade price targets
Daily loss limits
07:00: Frame The Context
I do a quick scan of my markets, and I frame the context by doing my analysis and establishing potential directional biases. This doesn’t take me a long time since I build upon yesterday’s analysis.
07:20: Define Market Conditions
Here I start by asking myself two questions:
Should I or shouldn’t I trade?
If I do trade, whether to do so cautiously or aggressively?
And then, I go through some variables to understand the market environment
07:30: Identify/Look For Setups
Now I understand what I want to improve on, my risk profile, market context, and how the market moves (the environment; fast, slow, etc.?)
I have specific setups and plays that I love to trade; I wait patiently for these setups to develop. Usually, they develop during London Open, but if there’s a setup at this very moment, I take it and immediately go into my breathing and meditation.
07:50: Deep Breathing + Meditation (Mental rehearsals)
This is where I get my mindset right. Breathing and meditation help me be and sustain a state of calmness and staying focused.
08:40: Cold Shower
Cold showers are amazing; they fill me with energy and the concentration to stay fully immersed in the present moment while I trade the markets.
09:00: Trade The London Open
I’m fully ready and confident to start my trading day. I’m focused, calm, and immersed in front of the screen.
Why We Need Routines:
As traders having routines in our life that encompasses all our desired best practices and habits is key to sustain consistent performance day in and day out in the markets. Trading is hard, and having to maneuver the world of trading without any routines or systems in place, is really doing yourself a disservice. Routines make your life easier. They reduce stress because you don’t have to think about what to do; your brain and body already know what to do because of the patterns you’ve set in place! This is quite amazing and really powerful; therefore, seek to build a routine to facilitate your trading performance.
