#441: Planning Your Trading Year to Ensure Success

Online Forex Trading Course

Planning Your Trading Year to Ensure Success Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course - Click Here #441: Planning Your Trading Year to Ensure Success In this video: 00:24 – The first video for 2022 – Making this a good trading year 01:23 – What are you going to do differently this year? 02:37 – Providing a template to help achieve trading goals 03:19 – Trading with Prop firms 04:22 – What size account should you have to start trading? 04:51 – Which FX broker do I recommend? 06:15 – Trading in 2022 is off to a great start What will you be doing differently this year to ensure that your trading is better than last year? Have you got a plan? Let's talk about that, and more, right now. Hey, traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 441, the first video and podcast for 2022. The first video for 2022 – Making this a good trading year So welcome back, hope you've had a good Christmas and New Year break. And now that we're into trading for the year, I just wanted to discuss a few things to help you into this year. You see, you heard the phrase doing the same thing over and over again and expecting a different result or a different outcome is basically the definition of insanity. It's a common phrase, I'm sure you heard it. And it's very true. And it's exactly the same when it comes to trading. Now, if 2021, or before, was not good for you, doing the same thing this year moving into 2022, and we're already getting into mid January now already, doing the same thing and expecting a different result is obviously not going to end well, it's the definition of insanity. What are you going to do differently this year? So what is it that you're going to do differently? What have you done so far this year to create a plan, a trading plan, a realistic trading plan as well, trading goals as well? And again, make it realistic. Look at what you did last year that was good. What did you do last year that was not good? What do you need to change? Whether it be with the way that you trade, your strategy, your mental approach, your business approach to it, your position sizing, timeframes that you trade, directions that you trade, all those type of things. Timeframe charts, when you trade, what's realistic for you around other things that you do in your life? So you need to sit down and come up with a plan, and plan to succeed. Because if you don't, then the year's just going to disappear. As I mentioned, we're already midway through January already, and if you don't do anything, we're going to be into February, March, April, and you're going to go, "Oh my goodness, another year's disappearing on me and I'm still getting bad results." So a really good opportune time now, in early January, to sit down and have a good think about that. Providing a template to help achieve trading goals We did exactly this last night on our live webinar with our clients. And we provide them with a template and I shared my exact trading goals and my trading plan, when I'm going to trade, when I'm not trading, what happens if I get a run of bad trades, what happens if I see setups that are against the daily direction, all those type of things, what am I going to do at those times? And so having all that written down, not so much set in concrete, but at least that you've got it written down that you know that if something happens, good or bad, you've got an idea of what you're going to do about it, rather than just reacting at the time. So that's really important, so just wanted to discuss that. Trading with Prop firms Another thing that we also discussed was the amount of our clients now trading with prop firms, and it's really, really exciting to see. We had four clients last night who talked about prop firm trading and how well that they're doing. We had one client over in Hong Kong who's now just passe...