The Hustler's Digest StaffClint Fester is a forex mentor & the founder of FestX. An educational platform for learning how to trade in the forex market. Clint put together this platform himself after gaining extensive knowledge doing two major international courses more than 3 years ago
In this article, Clint Fester who is a multi six-figure trader shares his top 10 tips, successful traders do.
Wait For Trades To Come To You
Think of the market as the Ocean and you’re the Surfer. A surfer waits patiently to catch that perfect wave before he rides it out, That’s the same way you should execute your trades. Wait for confirmation and as much confluence as possible before jumping into the trade
Don’t Trade Every Day!
Every day is not a Trading Day, the same way every day is not a surfers day. If there are no setups to trade don’t force it
Stick To Major Pairs
Leave the exotic pairs and Focus on 1-3 pairs like AUDUSD, EURUSD, and GBPUSD. These pairs have the best spread, they’re not volatile and very predictable
Journal Journal Journal!
Journal all your trades at all times. Date entered, the reason for entry, the risk to reward ratio, keep screenshots of the before and take screenshots of the after.
Review Your Losing Trades
This will not only track your trading history but grow you into a better trader as all mistakes you pick up in your trading will be documented, deleted and you will make sure you never make them again
Never Over Trade
Make your target for the day/week and get out. It’s that simple the more you Trade the more you open yourself up to the market
Get a hobby
If it’s surfing, Motocross or even playing Fortnite do something to occupy your mind. Especially if you have traded running that are intraday or swing targets, it’s pointless staring aimlessly at your charts watching each and every pullback. It will drive you crazy
Never Marry your trades
Never let your emotions get so involved in a trade setup that you can’t admit you are wrong when it’s going against you. So many traders marry the position and the direction of the trade even when it’s time to get out, call it a loss and move on. Do not refuse to accept defeat and end up blowing up your account
Never Compete or Compare
Don’t look at other traders that have been in forex for years and want their success overnight. It doesn’t work like that. I remember back in 2016 I followed traders on Instagram and told myself “I want that lifestyle one day” and I told my wife the only difference between them and me is time…
They just had more time to master their craft, and time is all that was standing between us. Once you realize that, you will start focusing on yourself and your race without looking left or right
Protect Your Energy
Energy is everything! If you surround yourself with a bunch of traders that always complain about how the markets do this and the markets do that, you will never succeed.
You need to protect YOUR ENERGY by surrounding yourself with positive people or positive audiobooks if you don’t like having people around.
Just keep your thoughts positive before you Trade. Don’t trade when you are in a negative vibe, it will give your account that negative balance.
