FX:GBPUSD British Pound / U.S. Dollar
1. Are you sufficiently trained in trading?
If so, in the different aspects of your trading, you are in your element
2. In your chosen market, has your opportunity-finding methodology already proven itself?
If so, you are satisfied with your current success rate.
3. Does your money management really protect you against capital loss?
If so, your trading is profitable, at worst flat.
4. Do you systematically enter positions with a trading plan?
If so, you know that not having one is not such a good idea.
5. Do you know how to manage your stress when the market turns against you?
If so, you don't stress, at worst you are a little disappointed.
6. Do you know how to manage euphoria when the market easily proves you right?
If yes, you never fall into euphoria. At best you feel a great deal of satisfaction.
7. Do you take into account the spread levels before placing an order?
If yes, when the spread is too high, you postpone your trade.
8. Do you always place a stop loss to protect yourself from a bad analysis?
If yes, you never trade without one, because you consider them an indispensable safety.
9. Do you know how to let go when the market proves you wrong?
If so, you never move your stop and you always exit your position according to your initial trading plan.
10. Do you trade out of passion or just for the money?
If you trade out of passion, in your eyes, trading is more than a living. It is a way of life, a challenge, a quest ...
You're ticking off as many of the bases as possible. Congratulations, you're on the road to winning trading.